15/08/2024 09:15

RIO Tinto Ltd (RIO) $112.43

Over recent weeks, RIO has become several analysts' preferred diversified miner, but when the news around China is this bad, all related stocks basically fall as one. With RIO generating ~56% of its revenue from iron ore in 2023, we see slightly less earnings risk with BHP if the iron ore picture continues to deteriorate further through 2024.

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31/07/2024 16:53

Rio Tinto (RIO) $117.48

RIO $117.48: First half numbers for RIO today were broadly in line with expectations, showing its operational strength amidst some challenging conditions. They maintained cost and production guidance for the year ahead, while capex also remained unchanged. Net debt was slightly better, coming in at $5.1bn vs $6.0bn expected. Nothing to change the dial here for RIO, with the stock at the mercy of commodity prices, primarily Iron Ore.

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09/07/2024 09:25

RIO Tinto Ltd (RIO) $119.90

RIO has recently become several analysts' preferred diversified miner, with BHP 3rd in some cases behind South32 (S32). However, with RIO generating ~56% of its revenue from iron ore in 2023, we see less earnings risk with BHP if the iron ore picture does deteriorate further through 2024.

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14/05/2024 09:17

RIO Tinto Ltd (RIO) $129.04

At this stage, it appears that RIO is looking at simpler and smaller assets, a good strategy in theory. However, the value of such assets has rallied significantly over the last six months, and as we’re seeing with BHP, they’re not going to get anything on the cheap.

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07/05/2024 09:33

RIO Tinto Ltd (RIO) $129.66

Unlike BHP, RIO is still dual-listed, meaning that any interest in AAL will not be script-based. However, we don’t believe AAL is on RIO's menu; they are looking at simpler and smaller copper plays to increase their footprint in industrial metals.

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09/04/2024 09:20

RIO Tinto Ltd (RIO) $121.76

RIO is obviously a very similar beast to BHP, but it's worth noting for any yield-hungry subscribers that it's now forecast to yield 5.47% over the next 12-months compared to BHP at 5.07%.

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22/02/2024 09:22

RIO Tinto Ltd (RIO) $125.80

RIO reported a $US11.8bn underlying full-year profit overnight, a slight beat to expectations, as was the ~$2.61 fully franked dividend being paid in early March. However, the stock slipped ~1.5% from its open in the UK, with the rhetoric around Labor’s IR changes catching the headlines, e.g. the cost of producing iron ore in 2024 will be 77% higher than just six years ago.

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16/01/2024 16:33

Rio Tinto (RIO) $126.65

RIO -1.29%: the iron ore miner released their 4Q23 production update today with numbers largely as expected and 2024 guidance left unchanged.  Iron Ore production in the year was up marginally to 331.8mt while mined copper at 620kt was slightly above the midpoint of 590-640kt guidance.

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23/11/2023 09:08

RIO Tinto Ltd (RIO) $127.76

RIO edged higher to a level not enjoyed since February, now only 7% below its all-time high posted in 2021 when iron ore was trading ~$US225, over 70% higher than current levels. Also, we shouldn’t forget that RIO has paid out well over $25 of fully franked dividends since COVID-19 dominated the world, making this a stellar investment for patient investors who were prepared to ride the waves of pessimism towards both iron ore and China.

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28/09/2023 09:17

RIO Tinto Ltd (RIO) $111.05

RIO’s revenue in FY23 were 51.2% from iron ore, 27.3% from aluminium and 10.6% from copper plus 10.7% from other minerals – we simply prefer BHP’s commodities mix until further notice. However, RIO is cheap, in our opinion, trading on 10.2x while being estimated to yield 5.6%, the same as BHP, over the coming 12 months.

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