Rio Tinto Share Discussion Threads

[philanderer] 04/6/2024 00:05

June 03, 2024 at 08:24 am EDT

Already positive, the research from JP Morgan and its analyst Patrick Jones still consider the stock as a Buy opportunity. The target price continues to be set at GBX 6610

[blackbag21] 29/5/2024 11:26

Roger that. But I'd like to try and have a go! GL.

[casket1] 29/5/2024 10:27

Yeh, but £3m doesn't go anywhere these days :-(

[blackbag21] 29/5/2024 01:11

Looks like his timing wasn't too bad as well!
Hope this downward trend ends shortly for us all. BB.

[yump] 28/5/2024 20:01

Its a different world for some folk.

[philanderer] 28/5/2024 18:58

That's some sale last week by the Chief Commercial Officer


59,000 @ £57.461

[pugugly] 24/5/2024 09:06

Yump - Agree again!! On a salary level Train Drivers and many plumbers would be upper middle class or lower upper class as earning more than many in the legal profession.

Anyway back to Rio - FT today reporting that Palliser Capital calling for RIO to consolidate its listing in Australia as trading at a $27bn discount to its Australian Entity.
Anyone holding the Aussie stock? Thoughts?

[dewalt] 22/5/2024 14:00

Yump, would that would mean national min wage at the BOE

[yump] 22/5/2024 13:34

Shame their salaries aren’t linked to performance ;-)

[anhar] 22/5/2024 11:45

I wonder if anyone has ever plotted the increase/decrease notes from analysts against subsequent price movements in the following months to see if there is any correlation.

I reckon its a near certainty there is nothing, or perhaps an inverse relationship !

I'm pretty certain this has been done, think I read such research many years ago in the US, vaguely recall the author was David Dreman but not sure. Where there are several conflicting broker views it means nothing but may be particularly significant when there is a strong consensus of broker opinion, either pos or neg. In that case the more likely outcome is the opposite of their combined view but you can't rely on it alone.

However my view after many decades of investing is to ignore them completely and make up my own mind based on fundamentals. I used to take some notice, especially on the opposite effect of a strong consensus, but gave up on broker opinion probably around the same time I switched from trading to being a long term hold income investor. Never looked back.

[casket1] 22/5/2024 10:38

Yump, if you mean "do they talk a load of sh!te" then i completely agree

[yump] 22/5/2024 10:00

I wonder if anyone has ever plotted the increase/decrease notes from analysts against subsequent price movements in the following months to see if there is any correlation.

I reckon its a near certainty there is nothing, or perhaps an inverse relationship !

[greendig] 22/5/2024 04:22

Rio Tinto has declared force majeure on its Queensland smelters stating that it will take longer to repair gas supplies after a fire in March. This only affects third party contracts and Rio’s own smelters are unaffected.

Won’t this mean a protracted restriction in third party aluminium production potentially increasing prices while Rio’s own production is unaffected?

Sounds like it should be good for Rio?

[philanderer] 20/5/2024 14:36

Citi downgrades Rio Tinto on rising China concerns


Citi has cut its rating for Rio Tinto from 'buy' to 'neutral', saying that macro headwinds are rising for the mining group following a period of share-price outperformance.

As for Friday's closing price of 5,785p, the stock had risen by around 27% since last August, but its deep discount to the wider sector has "now eroded", Citi said.

"We still have China macro concerns. We are unlikely to see any meaningful support for steel demand from recently announced property easing; all property indicators are still in deep contraction," the bank said.

"While the recent Politburo meeting pledged to support the property sector through supply and inventory management (to stabilise house prices and sales), Citi thinks this is unlikely to stimulate incremental steel demand."

Citi added that China steel mills are now loss-making again and we are entering into a period of seasonal weakness for mining equities.

The bank has left its 6,000p target price unchanged, which suggests very little upside to the stock, which was up 0.3% at 5,801p by 0935 BST.


Sharecast.com

[craftyale] 20/5/2024 11:21

Approaching year high

[craftyale] 17/5/2024 15:34

Copper is having a nice day/year. So is Rio.

[philanderer] 17/5/2024 10:17

HSBC raises Rio Tinto price target to 5,550 (5,150) pence - 'hold'

[tuftymatt] 17/5/2024 08:31

Yes encouraging news from China today regarding their property market which hopefully leads to even better commodity prices.

Good luck all 👍🏻

[borisjohnsonshair] 17/5/2024 08:18

State will fund incomplete residential projects in China.

[craftyale] 16/5/2024 16:20

Come on China. Come on 60.