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Rio Tinto Group (RIO)

NYSE - Nasdaq Real Time Price. Currency in USD
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61.33-2.80 (-4.37%)
At close: 03:59PM EST
61.33 0.00 (0.00%)
After hours: 04:00PM EST
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  • J
    Jazenevc
    Morningstar highlights Citi comments on Rio in “Stocks to Watch” this morning
    Start of quote
    Rio Tinto should get rising benefits from its relatively green aluminum footprint, according to Citi. Markets are starting to pay attention to the carbon cost of producing aluminum, which Rio Tinto has slashed by mostly using hydropower, Citi added.
    Hydro-powered Canadian smelters account for one third of Rio Tinto's aluminum production, emitting less than 4 tons of carbon dioxide per ton of aluminum versus an industry average of 11.5 tons of CO2.
    "We believe Rio has a competitive advantage with a high proportion of hydro-powered, low-carbon ali smelters versus largely coal-fired peers," Citi said. That's good for Rio Tinto because aluminum is its second biggest moneyspinner, after iron ore.
    End of quote
  • J
    Jazenevc
    New drilling results reported from Casino copper project in Canada, where Rio holds minority stake. The project is feasible, though getting permits will be difficult. In any case, the company management could spent more time working on copper development than on decarbonization noise.
  • B
    Bobb
    Here are the top three reasons I bought into RIO Friday:
    1. Copper
    2. Aluminum composites and Gold
    3. Lithium
    4. (bonus point 1) Dividends and undervalued right now.
    5. (bonus point 2) Way off recent highs with no significant reason in underlaying cause of effect
    6. (bonus point 3) Infrastructure and delayed shipping are masking true value even more

    I have already taken profits off EV plays from Ford and Tesla, they are yesterdays news. It's too late to make easy money in EV. But they all need Copper, Aluminum composites, Lithium, Gold/Aluminum composites.

    RIO was the only company hit this many tailwinds for both EV and infrastructure that could easily pop 20 percent in a short time. Meanwhile giving me nice dividends while waiting to take profits.

    RIO at this specific time was a no brainer for me to buy heavily at these prices.
  • J
    Jazenevc
    Vale release yesterday regarding reduction in iron ore output guidance was a very good news for other producers and it can support commodity pricing until China finishes its Olympic business by end of the winter. Certainly, it is cloudy and rather today, mostly because of Powell and his talk in Congress. However, the stock holds better today than it did for some time. It is finding the bottom.
  • J
    Jazenevc
    Rio has signed an option agreement for the Tete-Nord nickel-copper project in Quebec. According to the agreement, the company can earn 70% interest by investing about $ 15 million in exploration.
  • J
    Jazenevc
    Reiterated as Buy at Citigroup. Price target GBX5600, equals to $74.60. London price is GBX4672 now.
  • J
    Jazenevc
    Oyu Tolgoi board approved $75M bridging budget to continue underground mine development. Further investments depend on ongoing negotiations between Rio and Mongolia’s government.
  • J
    Jazenevc
    UBS reports after recent meeting with Rio executives that development decision for Simandou iron ore project in Guinea could be made next year. It would be a very big iron ore producer on level of Australian operations.
  • s
    serkan
    I checked the correlation between Iron prices and Rio movement. There is a strong correlation, having said that the volatility on Rio is much less than iron prices which is expected as they also have aluminum under their belt. So Iron going up to 200 and coming down to 100 correlates Rio running from 60 to 95 back to 60. Now the question is what is awaiting Iron for 2022? If China slowdown materialises, or this stagflation talks come to fruition then Iron can go down to 65 range which was pre covid world, and this will drag down Rio to 50-55 range from where it is. @Jazenvc seems you follow this stock very closely, any 2 cents?
  • d
    dougie
    DJ There Is Value to Be Had in Aussie Iron-Ore Stocks -- Market Talk
    2346 GMT - It's time to revisit the valuations of Australian iron-ore
    stocks following a sharp correction in shares and shifts in Chinese monetary
    policy, according to Citi. While it will be tough to get a good sense of
    whether China's economy is turning a corner until Lunar New Year has passed,
    Citi reckons the chance of a strong post-Lunar New Year recovery in iron-ore
    demand is rising. "And with the recent share-price corrections, we see value
    across the Australian iron-ore sector," Citi says. BHP and Fortescue are up
    0.3% and 0.7%, respectively. Rio Tinto is down 0.5%.
  • B
    Bobb
    $DOCU conversation
    $MSFT, $BA, $NVDA, $ADBE, $CRM, $GOOGL, $DISN, $RIO, $FTNT, $TWLO, $HOOD, $DFS
    Did not get where I am by panic selling,
    Did not pick these companies on a whim; they are great companies!
    Shields on full, Scottie!
  • P
    Positive
    RIO in USD has 10% discount to NAV (compared to RIO on ASX)
  • M
    Marko
    Several positive news recently. Why the price have not moved further up? @Jaznevc
  • J
    Jazenevc
    Rio took over full ownership of Mutamba heavy mineral sands project in Mozambique.
  • c
    carl
    I added to my position Friday. Might drop more, might not. Iron ore rebounding. Turquoise Hills mess might get some clarity in the next week.
    Even with the recently depressed ore market it looks as if they should be able to payout dividends of at least $4.5USD without borrowing. Its going to be an interesting next few weeks.
  • J
    Jazenevc
    Arizona press reports today that BBB spending package voted by US House does not include special addendum which would explicitly block development of Resolution copper project. It was reported in September that openly anti-mining folks included it in initial text; however, it was thrown out before the voting.
    This is positive news for Rio leaving the door to copper mine open. It is unlikely that it can move forward under present administration. However,the door is open and next Rep administration can use it.
  • P
    Positive
    ASX RIO near monthly high
    US RIO near monthly low
    Arbitrage trade,,, Anyone else in this trade?
  • J
    Jazenevc
    FYI. Jadar lithium-borate project will be an underground mine, meaning limited environmental impact and, for sure, any mining project launched in Europe meets very stringent environmental controls. This is common knowledge, lithium is a very critical material and the mine would be big, about 10% world output. It could have very strong positive economic impact on Serbia, which is a small country. Serbian government is supportive to this development, esp. if, besides mining, Rio will make commitments to more lithium processing in the country, making EV batteries. The company recent investment in a lithium battery enterprise confirms this direction.
    Certainly, every mining project meets opposition from anti-business forces. Actual reasons for this are usually political. The same happens in Serbia, political opposition tries to exploit the issue. Serbia goes to elections next spring. Government also promised to put the project on referendum, which could coincide with the elections. As of now, polls point to the government having around 60% support.
    Also, tales about Rio inflicting big damage on environment in past projects are just this… tales promoted by anti-mining zealots. It is indicative, btw, that these “protectors of nature” do not complain about mining performed by Chinese or Russians, which produces more damage to environment. They whine about western miners only.
  • P
    Paul
    Day traders delight. The copper stocks gyrate +/- 5% every few days.
  • J
    Jazenevc
    The company investment in lithium battery enterprise, announced today, is a necessary step to get Jadar project approved. Serbian government said clearly enough that combining lithium mining with local battery production will substantially increase government support. The approval decision is scheduled, tentatively, for 2022.