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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19/07/2023 17:01

Rio Tinto (RIO) $116.01

RIO -0.74%: the miner announced 2Q production numbers today, a mixed bag coming with small amendments to their guidance. Iron ore shipments were down marginally to 79.1Mt in the quarter, though the company pushed guidance for the year to the upper end of the previous range.

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05/07/2023 09:23

Why BHP/S32 but not RIO?

Throughout 2023 MM has discussed our penchant for both BHP Group (BHP) and South32 (S32) but we haven’t detailed why RIO has failed to make the cut, this morning we have clarified our reasoning behind this logic – ignoring a $162bn mining goliath should be explained!

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26/05/2023 08:54

RIO Tinto (RIO) $105.40

Diversified miner RIO has also fallen -18% from its 2023 high illustrating how both it and FMG are anchored to the underlying iron ore price. Similar to FMG we believe RIO is closer to a swing low than high.

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19/05/2023 08:57

Xero Ltd (XRO) v RIO Tinto (RIO)

XRO soared +8.9% yesterday following a solid earnings update from the accounting platform which illustrated good progress as they work towards balancing growth and profitability, interestingly this wasn’t a huge beat/upgrade illustrating the market was nervous that the high valuation business might struggle in today’s uncertain world.

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20/04/2023 16:39

Rio Tinto (RIO) $120.33

RIO -2.32%%: shares in the iron ore miner softened today, though largely traded in line with peers following a mixed 1Q production report. The iron ore front was strong, a record start to the year for Rio which usually sees a seasonally weak March Period.

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24/02/2023 09:49

RIO Tinto Ltd (RIO) $123.40

RIO reported after the market on Wednesday, again its earnings and dividend disappointed investors although the stock’s reaction has so far been muted compared to BHP i.e. the stock only slipped -1.7% yesterday. The dividend halved compared to this time last year due to falling iron ore prices but a $3.84 fully franked payment is still very attractive to most investors – RIO is forecast to yield more than 5% over the coming 12 months.

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06/12/2022 09:16

RIO Tinto Ltd (RIO) $116.13

RIO has bounced ~34% from its November low but it’s still only trading on a P/E for 2023 of 8.8x while it’s expected to yield almost 5.6% over the next 12 months – RIO can be considered as a lower Beta play than FMG when playing the iron ore market.

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01/11/2022 09:27

RIO Tinto Ltd (RIO) $88.20

RIO has followed a similar path to FMG with a test below $80 feeling a strong possibility over the coming months. Since their ill-fated blast of an ancient aboriginal site in early 2020, RIO has rightly attracted all the wrong headlines and with the importance of ESG considerations for large institutional investors (and many private ones), it is not surprising that RIO has drifted off many investors’ radars.

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