Rio Tinto (RIO)

Sector:

Mining

Index:

FTSE 100

4,672.50p
   
  • Change Today:
      23.50p
  • 52 Week High: 6,658.00
  • 52 Week Low: 4,266.00
  • Currency: UK Pounds
  • Shares Issued: 1,247.89m
  • Volume: 2,418,428
  • Market Cap: £58,308m
  • RiskGrade: 142

Barclays downgrades European miners to 'neutral' on China steel output cuts

By Alexander Bueso

Date: Tuesday 14 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Barclays downgraded their stance for European miners to 'neutral' given China's "rapid" steel production cuts and the likelihood that they might extend into 2022 and beyond in order to limit industry emissions.
Combined with slowing demand and given the medium-term projections for supply growth, Beijing's latest measures had led Barclays to reset its price deck for iron ore lower - leaving iron ore earnings on the cusp of mark-to-market downgrades.

Glencore remained their highest conviction 'overweight' in the space, with the analysts pointing to what they termed was an "attractive" valuation and naming it as their 'top pick'.

The commodity trader's shares were changing hands on free cash flow yield of 28% and a price-to-earnings multiple of 3.9.

Barclays also specifically pointed out Glencore's earnings momentum and cash returns.

On the other hand, they downgraded their recommendation on BHP to 'equalweight' reflecting its "strong" relative performance, premium valuation and now greater exposure to iron ore than Rio Tinto.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Rio Tinto Market Data

Currency UK Pounds
Share Price 4,672.50p
Change Today 23.50p
% Change 0.51 %
52 Week High 6,658.00
52 Week Low 4,266.00
Volume 2,418,428
Shares Issued 1,247.89m
Market Cap £58,308m
RiskGrade 142

Rio Tinto Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
95.31% above the market average95.31% above the market average95.31% above the market average95.31% above the market average95.31% above the market average
91.23% above the sector average91.23% above the sector average91.23% above the sector average91.23% above the sector average91.23% above the sector average
Price Trend
44.95% below the market average44.95% below the market average44.95% below the market average44.95% below the market average44.95% below the market average
19.08% below the sector average19.08% below the sector average19.08% below the sector average19.08% below the sector average19.08% below the sector average
Income
99.31% above the market average99.31% above the market average99.31% above the market average99.31% above the market average99.31% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
68.93% above the market average68.93% above the market average68.93% above the market average68.93% above the market average68.93% above the market average
27.87% below the sector average27.87% below the sector average27.87% below the sector average27.87% below the sector average27.87% below the sector average

What The Brokers Say

Strong Buy 10
Buy 0
Neutral 9
Sell 1
Strong Sell 3
Total 23
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Rio Tinto Dividends

  Latest Previous
  Special Interim
Ex-Div 12-Aug-21 12-Aug-21
Paid 23-Sep-21 23-Sep-21
Amount 185.00¢ 376.00¢

Trades for 22-Oct-2021

Time Volume / Share Price
16:45 196 @ 4,687.50p
16:45 196 @ 4,687.50p
16:37 162 @ 4,672.50p
16:37 100 @ 4,672.50p
16:37 200 @ 4,672.50p

Rio Tinto Key Personnel

Chair Simon R Thompson
CEO Jakob Stausholm
CFO Peter Cunningham

Top of Page