Rio Tinto (RIO)

Sector:

Mining

Index:

FTSE 100

5,581.00p
   
  • Change Today:
      26.00p
  • 52 Week High: 5,891.00
  • 52 Week Low: 4,559.00
  • Currency: UK Pounds
  • Shares Issued: 1,252.57m
  • Volume: 272,878
  • Market Cap: £69,906m
  • RiskGrade: 142

Citi upgrades Rio Tinto to 'buy'

By Michele Maatouk

Date: Thursday 08 Jun 2023

LONDON (ShareCast) - (Sharecast News) - Citi upgraded Rio Tinto on Thursday to 'buy' from 'neutral' as it took a look at the metals and mining sector.
"Hopes for stimulus from China and news headlines about potential measures to support the property sector have catalysed an upward move in steel and iron ore over the past week," the bank said.

"Citi's commodities team thinks the recent strength is unlikely to be sustained as effective stimulus measures will be difficult to achieve.

"Citi maintains its 0-3m point price target unchanged at US$100/t while downgrading our 6-12mth price to $90 (previous $105/t)."

The bank trimmed its CY23/24 benchmark iron ore price forecasts from $110/$105 to $105/$95 per tonne.

"All that said, we see clear upside risks regarding potential China stimulus and there has been 3 months of underperformance by the iron ore names."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Rio Tinto Market Data

Currency UK Pounds
Share Price 5,581.00p
Change Today 26.00p
% Change 0.47 %
52 Week High 5,891.00
52 Week Low 4,559.00
Volume 272,878
Shares Issued 1,252.57m
Market Cap £69,906m
RiskGrade 142

Rio Tinto Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
65.68% above the market average65.68% above the market average65.68% above the market average65.68% above the market average65.68% above the market average
29.85% above the sector average29.85% above the sector average29.85% above the sector average29.85% above the sector average29.85% above the sector average
Price Trend
39.31% above the market average39.31% above the market average39.31% above the market average39.31% above the market average39.31% above the market average
59.72% above the sector average59.72% above the sector average59.72% above the sector average59.72% above the sector average59.72% above the sector average
Income
87.39% above the market average87.39% above the market average87.39% above the market average87.39% above the market average87.39% above the market average
65.22% above the sector average65.22% above the sector average65.22% above the sector average65.22% above the sector average65.22% above the sector average
Growth
88.16% below the market average88.16% below the market average88.16% below the market average88.16% below the market average88.16% below the market average
67.21% below the sector average67.21% below the sector average67.21% below the sector average67.21% below the sector average67.21% below the sector average

What The Brokers Say

Strong Buy 6
Buy 8
Neutral 7
Sell 1
Strong Sell 0
Total 22
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Rio Tinto Dividends

  Latest Previous
  Final Interim
Ex-Div 07-Mar-24 10-Aug-23
Paid 18-Apr-24 21-Sep-23
Amount 258.00¢ 177.00¢

Trades for 15-May-2024

Time Volume / Share Price
10:36 65 @ 5,581.80p
10:36 77 @ 5,581.06p
10:36 56 @ 5,581.00p
10:35 1 @ 5,582.00p
10:35 66 @ 5,580.68p

Rio Tinto Key Personnel

CEO Jakob Stausholm
CFO Peter Cunningham

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