Rio Tinto share price has remained in a consolidation phase in the past few weeks as investors assess the prices of key commodities. The stock was trading at 5,000p in London, a few points below last year's high of 5,635p.
Rio Tinto RIO reported iron ore shipments (on a 100% basis) of 86.5 million tons (Mt) for the fourth quarter of 2024, which declined 1% year over year. This takes RIO's yearly total to 328 Mt, down 1% year over year, but within its guidance of 323-338 Mt.
Shares of Rio Tinto Group RIO have been in the red territory for a while now, having declined around 16% over a year. The stock is currently hovering near its 52-week low.
Freeport-McMoRan (NYSE: FCX), one of the largest producers of copper, has seen its stock underperform over the last three months, falling by 25% compared to the S&P 500 which was up 3%. Freeport's stock price movement is aligned with that for its peers, including Southern Copper Corp, which is down 21%, Rio Tinto (NYSE: RIO) which is down 18%, and VALE (NYSE: VALE) which is down 27% during the same period.
Arcadium Lithium is undervalued with a 13% upside to Rio Tinto's buyout price, expected to close mid 2025. Rio Tinto's acquisition of ALTM positions it as a major lithium player, with potential revenue growth as lithium prices recover. Rio Tinto is fundamentally and technically strong, trading at a low P/E ratio with substantial dividend growth potential.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
Reports that an activist hedge is trying to pressurise Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) to dump its UK listing would be the icing on what has been a very tough year for the mining sector in London. Finance at the small-cap end has dried up while the bigger players have been affected by China's steady economic slowdown.
Shares in Arcadium Lithium PLC (NYSE:ALTM, ASX:LTM) rose 9% overnight as investors backed the US$6.7 billion cash takeover of the metals processing firm by Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF). The deal, which is Rio's biggest for seventeen years, now faces regulatory approval in the US where it will be a test of the new Trump administration's attitude to foreign takeovers.
Rio Tinto and BHP are set to build Australia's largest ironmaking electric smelting furnace pilot plant study to lower emissions.
Rio Tinto intends to develop a demonstration plant in Canada that can produce up to 3.5 tons of gallium per year.
RIO will move forward with its first commercial-scale lithium operation, the Rincon project, with a $2.5-billion investment.
The head of global mining group Rio Tinto , pledged to act if wrongdoing was discovered following the filing of sexual harassment lawsuits against the company.