Name of opportunity: 👀
Rio Tinto plc
Rising ⬆️
Rio Tinto has seen a price increase of 2.4% in the past day, and is up by 3% in the past week. This small surge might be because of the recent announcement that Japanese trading house, Mitsui & Co, will acquire a 40% stake in the Rhodes Ridge iron ore project that is operated by Rio Tinto.
Rio Tinto is an income stock that pays a healthy dividend to its shareholders. The company has a high dividend yield of 6.77%, which means if you invested $1000 you might be paid $67.70 a year in dividends (based on the last 12 months).
The UK-based mining and metals company is currently performing well financially, with strong revenue and cash flow. Analysts are currently recommending this stock as a ‘strong buy’.
How hot is this investment opportunity? 🔥🔥🔥
Analysts predict the price of Rio Tinto plc might increase from $64.29 to $82.00 in the next 12 months. If you invested $1000, you might profit $275.47.
Mitsui acquiring a large stake in the Rhodes Ridge project in Australia might be one of the contributing factors behind Rio Tinto’s price increase. This is because a huge investment like this into the mining project can boost investor confidence. This investment may reflect well on the company, which might be why the company’s stock price has increased recently.
Rhodes Ridge has been described as one of the largest and highest quality undeveloped iron ore deposits that exists, and Rio Tinto is the world’s largest iron-ore producer.
Another reason behind Rio Tinto’s share price increase might be because of their resilient earning reports that was released recently. Although iron ore price decreased by 11%, Rio Tinto reported an underlying EBITDA of $23.3 billion in their earnings report.
Because of this strong operating performance, it might have attracted investors and boosted their confidence in the company. This might be one of the driving factors behind the recent price increase.
World’s second largest metal and mining corporation 🌏
Rio Tinto is a British-Australian multinational mining company that is headquartered in London, England. Rio Tinto is the second largest metal and mining company in the world.
Which neme?: 🔍
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