Rio Tinto plc ADR (RIO) Analysis & Forecast for 2024

Rio Tinto plc ADR (NYSE: RIO) is -4.34% lower on its value in year-to-date trading and has touched a low of $59.35 and a high of $75.09 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RIO stock was last observed hovering at around $70.75 in the last trading session, with the day’s gains setting it 0.48%.

Currently trading at $71.23, the stock is 13.00% and 12.62% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.91 million and changing 0.68% at the moment leaves the stock 6.64% off its SMA200. RIO registered 14.30% gain for a year compared to 6-month loss of 11.75%. The firm has a 50-day simple moving average (SMA 50) of $63.3866 and a 200-day simple moving average (SMA200) of $66.80395.

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The stock witnessed a 13.06% gain in the last 1 month and extending the period to 3 months gives it a 8.04%, and is 12.05% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.00% over the week and 1.10% over the month.

Rio Tinto plc ADR (RIO) has around 57174 employees, a market worth around $89.21B and $53.96B in sales. Current P/E ratio is 10.86 and Fwd P/E is 10.10. Profit margin for the company is 19.85%. Distance from 52-week low is 20.02% and -5.14% from its 52-week high. The company has generated returns on investments over the last 12 months (15.65%).

The EPS is expected to shrink by -2.82% this year, but quarterly earnings will post -2.20% year-over-year.

Rio Tinto plc ADR (RIO) Top Institutional Holders

880.0 institutions hold shares in Rio Tinto plc ADR (RIO), with institutional investors hold 10.75% of the company’s shares. The shares outstanding are 1.25B, and float is at 1.25B with Short Float at 0.70%. Institutions hold 10.75% of the Float.

The top institutional shareholder in the company is WELLINGTON MANAGEMENT GROUP LLP with over 22.21 million shares valued at $1.46 billion. The investor’s holdings represent 1.3697% of the RIO Shares outstanding. As of 2024-06-30, the second largest holder is FISHER ASSET MANAGEMENT, LLC with 17.04 million shares valued at $1.12 billion to account for 1.0511 of the shares outstanding. The other top investors are STATE FARM MUTUAL AUTOMOBILE INSURANCE CO which holds 10.93 million shares representing 0.6742% and valued at over $720.73 million, while GOLDMAN SACHS GROUP INC holds 0.4799 of the shares totaling 7.78 million with a market value of $512.96 million.