Rio Tinto (RIO) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Rio Tinto (RIO) closed at $90.38, marking a +3.69% move from the previous day. This change outpaced the S&P 500's 0.07% gain on the day.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.53 per share and revenue of $60.98 billion. These totals would mark changes of +75.71% and +41.27%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for RIO. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.15% higher. RIO is currently a Zacks Rank #3 (Hold).
In terms of valuation, RIO is currently trading at a Forward P/E ratio of 6.44. Its industry sports an average Forward P/E of 11.59, so we one might conclude that RIO is trading at a discount comparatively.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Rio Tinto PLC (RIO) : Free Stock Analysis Report
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