RIO Stock Summary and Trading Ideas (Rio Tinto PLC | NYSE:RIO)

Rio Tinto is a global diversified miner. Iron ore is the dominant commodity, with significantly lesser contributions from copper, aluminum, diamonds, gold, and industrial minerals. The 1995 merger of RTZ and CRA, via a dual-listed structure, created the present-day company. The two operate as a single business entity, with shareholders in each company having equivalent economic and voting rights. Major assets included the Pilbara iron ore operations, a 30% stake in the Escondida copper mine, 66%-ownership of the Oyu Tolgoi copper mine in Mongolia, the Weipa and Gove bauxite mines in Australia, and six hydro-powered aluminum smelters in Canada.

Rio Tinto PLC trades on the NYSE stock market under the symbol RIO.

As of April 19, 2024, RIO stock price climbed to $67.06 with 1,186,615 million shares trading.

RIO has a beta of 0.79, meaning it tends to be less sensitive to market movements. RIO has a correlation of 0.15 to the broad based SPY ETF.

RIO has a market cap of $108.80 billion. This is considered a Large Cap stock.

In the last 3 years, RIO stock traded as high as $95.97 and as low as $50.92.

The top ETF exchange traded funds that RIO belongs to (by Net Assets): GCOW, AVDE, SLX, DFAX, APIE.

RIO has underperformed the market in the last year with a return of +1.4%, while the SPY ETF gained +21.8%. In the last 3 month period, RIO fell short of the market, returning +0.7%, while SPY returned +4.8%. However, in the most recent 2 weeks RIO has outperformed the stock market by returning +5.9%, while SPY returned -3.0%.

RIO support price is $65.49 and resistance is $67.87 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that RIO stock will trade within this expected range on the day.