Rio Tinto Share Discussion Threads

[yump] 25/1/2023 12:28

Issue is where would it drop to, if it did and given the likely dividend, would the drop and repurchase just be totally pointless ?

Given the generally optimistic view, I'd be surprised if 6000 wasn't the support level, in which case a further rise 6500+ and fall-back would be about 10% if you timed it right. Assuming you bought back pre ex-div date.

Just thinking aloud really. Can't really be bothered messing while the propects are good.

[craftyale] 25/1/2023 11:06

Ive sold good shares in the past too soon. Im going to let this winner run.

[tuftymatt] 25/1/2023 10:40

I hold at an average of 4692 and have a stop loss in at 5745.
I would top up in a small way at 6060 and outside of that will be happy to pick up the divi

I hold some too in my GIA but top sliced there back in mid November at 5491. It was a good price then and a tidy profit but I should have held so that's why I am thinking like I am right now.

[yump] 25/1/2023 10:30

Difficult decision coming up if anyone bought near the bottom - do you pocket an unusually quick profit or sell and miss the div (ex-div in March)

[craftyale] 25/1/2023 10:19

Thats a year high now, approaching 3 yr high. Div declared on Feb 22nd.

[yump] 23/1/2023 22:21

I suspect this share price area is going to be rather bouncy

[eggbaconandbubble] 23/1/2023 14:36

Well, if you blinked you missed it!

[eggbaconandbubble] 23/1/2023 12:34

"There you go, Squire!"

[craftyale] 23/1/2023 09:40

63 please. Come on China.

[yump] 18/1/2023 11:17

Wow - they haven't used an obvious previous high !

[philanderer] 18/1/2023 10:31

Bank of America raises Rio Tinto price target to 7,400 (6,900) pence - 'buy'

[yump] 18/1/2023 08:40

I’ll get me coat - I was looking at my spreadsheet but that’s based on my purchase price !

Wonder if the good news is all in the price yet. Mind you, if you bought anywhere around the bottom, hopefully can sit on a chunk of the share price recovery and pocket the divs along the way.

Difficult to know where it might sell off to if it does

[woodhawk] 18/1/2023 00:35

4500p plus 40% = 6300p.

So broadly correct. Perhaps you need one of Rishi's maths courses!

[yump] 18/1/2023 00:03

40 percent since October ?!

Either a typo or someone should be fired !

[philanderer] 17/1/2023 01:09

Rio Tinto hints at higher iron ore output


Rio Tinto has hinted its flagship iron ore division is ready to grow export volumes again, promising that stockpiles are high across its Western Australian network and a big new mine will soon run at full speed.

The signs that volume growth could be back on the agenda extended across Rio’s other divisions, with the company promising to grow volumes in 2023 at its alumina, aluminium, copper and Canadian iron ore businesses.

The cautiously optimistic tone came as Rio completed another underwhelming year of iron ore export volumes, with the miner shipping 321.63 million tonnes from WA.

The result means Rio’s 2022 export volumes were incrementally higher than 2021, but earnings from the division will decline because of a 26 per cent fall in received iron ore prices over the year.

Rio also confessed on Tuesday that unit costs in the Australian iron ore division had blown out above the $US21 a tonne maximum it had promised.

Macquarie had expected Rio to produce iron ore in WA at a unit cost of $US22.57 a tonne in 2022, with unit costs tipped to ease in 2023.

Rio said it would ship between 320 million and 335 million tonnes in 2023; effectively reiterating the full-year export target it issued this time last year.

But while the full-year target has not changed, Rio’s chances of delivering to the top end of the target range appear to be stronger given the $US3.1 billion ($4.5 billioin) Gudai-Darri iron ore mine is now complete.

Rio shares have rallied almost 40 per cent since October and Morgans analyst Adrian Prendergast said market enthusiasm toward miners over the demise of China’s “zero COVID” policy was near its zenith.

“We maintain a positive view on current management, and their focused efforts to turn Rio’s operating performance around across its global portfolio. But it takes significant time to turn a ship this big,” he said.

“Rio remains in good shape and is about to deliver start up of [the Oyu Tolgoi Underground mine], but with market conviction on China’s restart already so high it is hard to see the value upside on offer in Rio’s current share price. We maintain a hold rating.”

[woodhawk] 16/1/2023 21:48

4th Quarter operations review now published:

[philanderer] 16/1/2023 15:34

Waiting for tonight's Q4 Operations Review.

[ariane] 14/1/2023 10:27

Looks like strong resistence cannot be broken thus the fall back

[eggbaconandbubble] 14/1/2023 09:21

Berenberg changed (“double upgraded” - lol) from ‘Sell’ to ‘Buy’ after a two month 33% bull run!!!!

I note. Spellchecker wanted to spell Berenberg ‘Beer berg’ How apt! - Respect!

[tuftymatt] 14/1/2023 08:51

Yes it should be an upbeat statement come Monday from RIO and hopefully a positive Q1 in 2023 too.

I heard in the week that Goldman have LME running from circa 9k to over 11k so that bodes really well for RIO.

I top sliced 15% pre Christmas to lock in a very good return ahead of what many said would be a difficult start to 2023. It's the opposite right now so I will be looking to add on any drop below 6150 as I am sure we can go above the high of April 21 at some stage in 23.

Good luck all 👍🏻