Rio Tinto (RIO)

Sector:

Mining

Index:

FTSE 100

5,017.00p
   
  • Change Today:
      39.00p
  • 52 Week High: 5,891.00p
  • 52 Week Low: 4,559.00p
  • Currency: UK Pounds
  • Shares Issued: 1,252.50m
  • Volume: 2,101,671
  • Market Cap: £62,838m
  • RiskGrade: 142

JPMorgan downgrades Rio Tinto

By Abigail Townsend

Date: Wednesday 14 Dec 2022

LONDON (ShareCast) - (Sharecast News) - JPMorgan has downgraded Rio Tinto to 'underweight' following a review of European mining stocks.
In a note published on Wednesday, the bank said it was 'overweight' on European, Middle East and African metals and mining for 2023, "since metals are a key beneficiary of China's re-opening, plus positioning for a weaker US dollar".

It continued: "JP Morgan Strategists' base case is for a European and US recession in 2023, but that China re-opens with 4% 2023 estimated GDP and easy macro-comps in 2023 are likely to support superior growth momentum of China versus the rest of the world.

"We identify 2023 as marking a pivotal shift in cyclical and structural themes that have dominated miners' share prices in recent years: 'green' metals demand growth, iron ore supply, capex and shareholder returns."

It reiterated Glencore and Anglo American - both of which have an 'overweight' rating' - as its top picks in European mining. But it reduced Rio Tinto to 'underweight' from 'neutral', despite expecting "strong tailwinds" for the Anglo-Australian miner in the first quarter.

In European steel, it downgraded Sweden's SSAB to 'underweight', and stayed 'neutral' on Mittal and ThyssenKrupp.

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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 5,017.00p
Change Today 39.00p
% Change 0.78 %
52 Week High 5,891.00p
52 Week Low 4,559.00p
Volume 2,101,671
Shares Issued 1,252.50m
Market Cap £62,838m
RiskGrade 142

Rio Tinto Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
92.72% above the market average92.72% above the market average92.72% above the market average92.72% above the market average92.72% above the market average
77.10% above the sector average77.10% above the sector average77.10% above the sector average77.10% above the sector average77.10% above the sector average
Price Trend
13.26% below the market average13.26% below the market average13.26% below the market average13.26% below the market average13.26% below the market average
49.65% above the sector average49.65% above the sector average49.65% above the sector average49.65% above the sector average49.65% above the sector average
Income
90.42% above the market average90.42% above the market average90.42% above the market average90.42% above the market average90.42% above the market average
47.83% above the sector average47.83% above the sector average47.83% above the sector average47.83% above the sector average47.83% above the sector average
Growth
88.38% below the market average88.38% below the market average88.38% below the market average88.38% below the market average88.38% below the market average
75% below the sector average75% below the sector average75% below the sector average75% below the sector average75% below the sector average

What The Brokers Say

Strong Buy 6
Buy 6
Neutral 9
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 28-Mar-2024

Time Volume / Share Price
16:42 3,083 @ 5,017.00p
16:38 3,000 @ 5,017.00p
16:38 799 @ 5,017.00p
16:38 799 @ 5,017.00p
16:38 799 @ 5,017.00p

Rio Tinto Key Personnel

CEO Jakob Stausholm
CFO Peter Cunningham

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