Recent exceptional negative changes in investment behavior have affected Rio Tinto Group (NYSE: RIO): its longer term price trend turned down, and negative upside/downside volume developed.
Recent meaningful negative changes in fundamentals have affected Rio Tinto Group (NYSE: RIO): significant quarterly sales deceleration occurred, and the consensus estimate for December, 2024 decreased significantly.
In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
RIO is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Rio Tinto Group has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Rio Tinto Group has a good Appreciation Score of 72 but a slightly negative Power Rating of 36, leading to the Neutral Value Trend Rating.
Recent Price Action
Rio Tinto Group (NYSE: RIO) stock closed at $62.54 on 8/7/24 after a slight decline of -0.8%. Moreover, this decline was accompanied by unusually high trading volume at 162% of normal. The stock has been weak relative to the market over the last nine months and has declined -1.6% during the last week.
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