Rio Tinto Share Discussion Threads

[tuftymatt] 03/3/2023 11:10

Yes the sector has woken up these past few days after a tough few weeks or so.

Good luck all 👍🏻

[gurunostradamus] 03/3/2023 10:53

Perfect bounce off around 5600 levels. Been here a few years and it’s reasonably reliable for dividends.

[eggbaconandbubble] 02/3/2023 10:19

I posted twice. Doh!

[eggbaconandbubble] 02/3/2023 10:19

Oh dear! The Chinese must have found someone fiddled the figures!

Executions at dawn tomorrow.

[eggbaconandbubble] 02/3/2023 07:34

All miners up significantly yesterday because Chinese economy is doing far far better than expected.

I’ve never been a fan of China but……230;

[tuftymatt] 01/3/2023 11:04

And month too!!

[craftyale] 01/3/2023 09:45

Great start to the week.

[yump] 27/2/2023 09:34

I guess some people have sold on results if they were quick enough, betting on it dropping from around 6200 to a level ex-div that more than compensates for the loss of the final dividend, if they then buy back.

[tuftymatt] 27/2/2023 09:19

Let's hope so egg!!

[eggbaconandbubble] 27/2/2023 09:08

Is the rout over?

[tuftymatt] 24/2/2023 14:43

Yeah I agree yump and I am happy to hold even with the reduced yield.
Copper will climb much higher if China re opens at pace and I would sooner by RIO here than some of the big tech names that's for sure.

[yump] 24/2/2023 13:52

There will be major traders in here that focus on commodities, so not surprising to see a sudden drop - happened a lot in the past - stop losses etc. The dividend is still tasty and the cut is because of 2022 copper/ore prices, which had a long low area.

[cassini] 24/2/2023 13:42

Getting punished for reducing the dividend,

A very cyclical share, who knows, but 4500-5000 is possible as a bottom if this continues to sell off.

[tuftymatt] 24/2/2023 12:18

Yeah it's worth more than this and given time it will recover.

The divi cuts etc are never nice but the value remains there and I don't think it's unrealistic to expect to see 6400 again in 2023.

Good luck all 👍🏻

[philanderer] 24/2/2023 11:16

Rio Tinto share price to end year 'well above where it is today'

Rio Tinto is still a buy for the scribes at Jefferies as they believe consensus forecasts for this year are too low.

Full-year results this week were on track, said the US bank, with underlying profits higher than forecasts, earnings lower and the dividend at the top end of guidance.

Going forward, a cyclical recovery in earnings should lead to further outperformance in Rio shares believes Jefferies.

“There are obviously many risks and there will be occasional painful pullbacks along the way, but on our base case macro assumptions we would expect Rio’s share price to end the year well above where it is today.”

The bank's share price target is 7,500p compared to 5,874p today.


citywire.co.uk

[eggbaconandbubble] 22/2/2023 13:54

A longterm buy if you have the dosh!

[tuftymatt] 22/2/2023 09:48

Yeah no doubt what RIO and other miners produce is still very much in demand and will be for many years to come too.

6400+ and a new high isn't all that far away really and it won't take much in terms of a market boost to see that happen. That said more doom and gloom talk when it comes to longer term interest rates could see sub 5800.

A long term hold for me and good luck all 👍🏻

[yump] 22/2/2023 08:23

Both copper and iron ore prices are very significantly up on 2022 - I think thats the key thing looking forwards.

[waldron] 22/2/2023 06:59

Rio Tinto PLC reported a 41% fall in net profit for 2022 and cut its payout to shareholders, reflecting a downswing in iron ore and copper prices.

The world's second-biggest miner by market value on Wednesday said it made a net profit of $12.42 billion last year, down from $21.09 billion in 2021.

Underlying earnings totaled $13.28 billion, compared to $21.38 billion the year earlier, as prices for iron ore--which accounts for most of Rio Tinto's profits--and copper fell. Analysts had expected underlying earnings of roughly $13.39 billion, according to 15 estimates compiled by Visible Alpha.

Directors of Rio Tinto declared a final dividend of $2.25 a share, taking the total payout for the year to $4.92 a share.

"Despite challenging market conditions, we remain resilient," said Jakob Stausholm, Rio Tinto's chief executive.

BHP Group Ltd., the world's largest miner, on Tuesday reported a 32% fall in its own first-half net profit, and pared its interim dividend from a record-high level, mostly because of weaker iron ore and copper prices.

Rio Tinto makes most of its money from the vast iron-ore mining operations it operates in remote northwest Australia. While shipments from those operations were flat in 2022 versus the year prior, the average price Rio Tinto was paid for its ore was 26% lower year-on-year.

Prices for the steel ingredient tumbled to a three-year low late last year amid concerns about the state of China's property market and the outlook for the global economy.

Rio Tinto said the price it got for its copper, an industrial metal used in construction and manufacturing, was also 5.0% below 2021 levels.

The mining giant, which also produces bauxite, aluminum and diamonds, has been grappling with cost inflation pressures throughout its businesses, too.

It said the cost of mining at its Australian iron-ore pits surpassed its expectations in 2022, in big part because of higher diesel prices and labor expenses. So-called unit cash costs for that business totaled $21.30 a metric ton, compared to the company's forecast of $19.50-$21.00 a ton.



Write Rhiannon Hoyle at [e-mail]



(END) Dow Jones Newswires

February 22, 2023 01:06 ET (06:06 GMT)

[philanderer] 21/2/2023 16:53

Rio Tinto Registered Shares is due to post annual results tomorrow, with rising net debt and plans for higher capital expenditure likely to mean it adopts a conservative dividend approach.

Analysts at UBS said recently they expect Rio to moderate returns to a 60% payout for 2022, with the final dividend set to fall 57% year-on-year to $2.04 a share or $3.3 billion (£2.7 billion). “We expect no special dividend for the first time since 2020 as Rio pivots more towards growth.”

ii.co.uk

[craftyale] 21/2/2023 07:12

Iron ore back to 130, 7 month high

[yump] 20/2/2023 18:08

Glen had a meteoric continuous rise to 550 from 200 ish, RIO has traded in a range for a few years. So the buying/selling patterns of Glen are unlikely to be a predictor.

Glen was falling into results by the look of it, which looked like it rolling over.

[craftyale] 20/2/2023 17:36

Come on 6350 on Wed

[robrah] 20/2/2023 11:46

Careful see what happen to glen. Everyone thought it will go to 600 and when to 500 instead.

[craftyale] 20/2/2023 08:55

Good results to come Wed, share price to drive to 6350, 65 by end of March and 70 by end of year.