What Did We Note About Insider Trading At Rio Tinto Group (NYSE: RIO)?

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Rio Tinto Group (NYSE:RIO) price closed higher on Monday, September 13, jumping 0.82% above its previous close.

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A look at the daily price movement shows that the last close reads $73.18, with intraday deals fluctuated between $73.41 and $74.44. The company’s 5Y monthly beta was ticking 0.60 while its P/E ratio in the trailing 12-month period read 6.40. Taking into account the 52-week price action we note that the stock hit a 52-week high of $93.91 and 52-week low of $53.65. The stock subtracted -6.80% on its value in the past month.

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Rio Tinto Group, which has a market valuation of $118.51 billion. The company stock has a Forward Dividend ratio of 6.85, while the dividend yield is 9.28%. It is understandable that investor optimism is growing ahead of the company’s current quarter results.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give RIO a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 50% Sell.

Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 8 analysts have assigned RIO a recommendation rating as follows: 2 rate it as a Hold; 5 advise Buy while 0 analyst(s) assign an Overweight rating. 1 analyst(s) have tagged the Rio Tinto Group (RIO) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Overweight, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

If we dive deeper into the stock’s performance we see the positive picture represented by the PEG ratio, currently standing at 2.00. The overview shows that RIO’s price is at present -1.45% off the SMA20 and -7.42% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 41.36, with weekly volatility standing at 1.57%. The indicator jumps to 1.53% when calculated based on the past 30 days. Rio Tinto Group (NYSE:RIO)’s beta value is holding at 0.67, while the average true range (ATR) indicator is currently reading 1.72. Considering analysts have assigned the stock a price target range of $90.00-$124.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $108.91. Based on this estimate, we see that current price is roughly -21.98% off the estimated low and -68.07% off the forecast high. Investors will no doubt be excited to see the share price fall to $110.82, which is the median consensus price, and at that level RIO would be -50.2% from current price.

Turning out attention to how the Rio Tinto Group stock has performed in comparison to its peers in the industry, here’s what we find: RIO’s stock is 0.82% on the day and 19.14% in the past 12 months, while Freeport-McMoRan Inc. (FCX) traded -0.54% in the last session and was positioned 116.90% up on its price 12 months ago. Another comparison is with BHP Group (BBL) whose stock price was up 0.59% in the last trading session, and has flourished 29.75% over the past year. As for Rio Tinto Group, the P/E ratio stands at 6.40 lower than that of Freeport-McMoRan Inc.’s at 18.46 and BHP Group’s 12.94. Elsewhere in the market, the S&P 500 Index has rallied 0.23% in last trading session, with the Dow Jones Industrial also saw a positive session on the day with 0.76%.

An analysis of the Rio Tinto Group (NYSE:RIO) stock in terms of its daily trading volume indicates that the 3-month average is 2.32 million. However, this figure increases on the past 10-day timeline to an average of 2.87 million.

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Current records show that the company has 1.62B in outstanding shares. The insiders’ percentage holdings are 6.50% of outstanding shares while the percentage share held by institutions stands at 8.60%. The stats also highlight that short interest as of Aug 12, 2021, stood at 12.72 million shares, which puts the short ratio at the time at 5.34. From this we can glean that short interest is 0.79% of company’s current outstanding shares. Notably, we see that shares short in August rose slightly given the previous month’s figure stood at 11.15 million. But the 1.28% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.

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