Rio Tinto Group (NYSE: RIO) stock fell -3.43% on Friday to $53.22 against a previous-day closing price of $55.11. With 3.82 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.55 million shares. During the session, the Other Industrial Metals & Mining company that operates in wider Basic Materials sector, reached to the highest price of $54.94 whereas the lowest price it dropped to was $53.22. The 52-week range on RIO shows that it touched its highest point at $84.01 and its lowest point at $53.21 during that stretch. It currently has a 1-year price target of $72.64. With its current market cap of 89.18 billion, RIO has annualized dividend of $6.84 while the current yield stands at 12.85%. Beta for the stock currently stands at 0.70.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RIO was down-trending over the past week, with a drop of -5.30%, but this was down by -9.69% over a month. Three-month performance dropped to -15.13% while six-month performance fell -30.40%. The stock lost -17.93% in the past year, while it has lost -19.86% so far this year. EPS is expected to decline by -3.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 38.40%.
Float and Shares Shorts:
At present, 1.62 billion RIO shares are outstanding with a float of 1.06 billion shares on hand for trading. On Jul 14, 2022, short shares totaled 15.81 million, which was 0.98% higher than short shares on Jun 14, 2022. In addition to Mr. Jakob Stausholm M.S., MS as the firm’s CEO & Exec. Director, Mr. Peter Lloyd Cunningham B.A. serves as its CFO & Exec. Director.
Through their ownership of 10.63% of RIO’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.61% of RIO, in contrast to 3.56% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in RIO with 1.19% of the stake, Fisher Asset Management LLC holds 14,846,876 shares worth 14,846,876. A second-largest stockholder of RIO, State Farm Investment Management, holds 10,931,820 shares, controlling over 0.88% of the firm’s shares. Arrowstreet Capital LP is the third largest shareholder in RIO, holding 10,037,170 shares or 0.80% stake. With a 0.83% stake in RIO, the Washington Mutual Investors Fund is the largest stakeholder. A total of 10,328,583 shares are owned by the mutual fund manager. The Franklin Income Fund, which owns about 0.41% of RIO stock, is the second-largest Mutual Fund holder. It holds 5,124,535 shares valued at 288.46 million. Neuberger Berman Large Cap Value holds 0.23% of the stake in RIO, owning 2,914,774 shares worth 164.07 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RIO since 8 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With RIO analysts setting a high price target of $90.00 and a low target of $64.00, the average target price over the next 12 months is $75.66. Based on these targets, RIO could surge 69.11% to reach the target high and rise by 20.26% to reach the target low. Reaching the average price target will result in a growth of 42.16% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. RIO will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of $11.67 being high and $8.08 being low. For RIO, this leads to a yearly average estimate of $9.33. Based on analyst estimates, the high estimate for the next quarter is $3.91 and the low estimate is $3.91. The average estimate for the next quarter is thus $3.91.