#1 - Rio Tinto Group (NYSE:RIO)
The Rio Tinto Group (NYSE: RIO) is the world’s second-largest miner. The company has integrated mining operations in eight countries, including Africa and Australia. Along with precious metals (gold, silver, etc.), Rio Tinto mines for iron ore and lithium, which will be essential as we move to a renewable energy economy.
Materials stocks and mining stocks in particular can be highly cyclical in nature. Much like oil, it’s capital intensive to get minerals and metals out of the ground, which can limit the upside. However, it appears demand for vital metals such as lithium and copper will outpace supply over the next decade. That should increase the runway and the potential upside for RIO stock.
RIO stock has delivered an average five-year total return of 50.81%. That means every $1,000 invested in the stock would now be worth over $1,500. The dividend yield as of July 5, 2024 is 7.62%, and it currently pays $5.15 per share annually.
About Rio Tinto Group
Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.
Read More - Current Price
- $65.34
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 5 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
