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Last cycles it tended to hit 50-53 before bouncing back up to 60. Might be an opportunity to take this swing and snag the lovely dividend. Will take patience and luck though!
Good morning, iron ore futures rose by 15 cents or 0.1% to US$125.92 a tonne yesterday on expectations for a faster recovery in Chinese steel consumption:
https://twitter.com/CommSec/status/1628852753887002624
Fair enough and thanks for the reply. I continue to hold for the long term and do not trade this. In fact I rarely purchase the last and most expensive was last August for £48 per share, the others were 2016 so I have a good buffer to ride out shocks.
I don't believe in tea leaves. It could go down, it could go up. But to say it's nailed on going either way is just silly.
Tom
Based on what exactly ...
Firstly fundamentals:
Global down turn, inflation down, lack of confidence in the metal market and future of decolonization Road map and what turn that would take in coming months, competition , price fixing,
yes China recovery everyone talking about but for that to show the real effects take months/year in the mean time metal price will suffer these uncertainties and this include Rio
My take is this is always a solid company to hold but remember I am only talking about next few months not beyond 6 months. So don't panic
Charts: resistance forming at these level and it is very strong and holding and downwards trends forming, those of you familiar with the chart know what i am talking so shorter term day/week move doesn't matter to me weeks and months move is downturn.
If you are A long termer none of these really matter I still believe Rio is very strong and will come good but if you are seriously dreaming this may go pass 6500 mark very shortly, then you are seriously dreaming, it wouldn't.
This is one of the top FTSE100 company which will do well this year more towards Q2/Q3 not now.
DYOR
GLA
IMHO
MrMath
lol
I don't need to buy in, just sharing my observation from charts and fundamentals
This will go all the way down to under 5200 sooner than you might think.
I honestly don't care about what happens tomorrow or next week my comment was related to how this perform over the next 2/3 months or sooner. So shorter term but not within couple of weeks or days more of the month or two.
Keep this and reflect back in couple of months
Enjoy buying at this level lol
However as I always say if you are a long termer it truly wouldn't matter as long as you don't panic on drop but this will go down anyway.
GLA
IMHO
DYOR
We are all entitled to our opinion but to state with such confidence such a sharpe change in the sp does i think entitled we less informed,an explanation as to why.
Time to buy
Based on what exactly?
Iron ore and copper are trending up since last November and this is what will drive the SP. China will be key, of course if we get a major downturn in demand due to recession then I would agree.
"this will go all the way down to at least 5200 level"
Sounds like your looking to buy in. Don't be too greedy, could be up tomorrow. Already a good bet at these levels.
Within the next couple of months or sooner this will go all the way down to at least 5200 level, and possibly lower.
There is no scape from it
IMHO
DYOR
I'm happy enough as the full year dividend of 407p is 16.5% yield on my purchase price so beating inflation.
"Still a decent dividend return , and with Mongolia still to ramp up , better dividends in the years ahead
GLA LTH Diversification is key"
Agree with all of that.
More emphasis on copper
https://www.lse.co.uk/rns/rio-tinto-jorc-table-1-release-ceb420kfw3erfti.html
Me too. Thought about selling on Monday but got busy with work and missed the opportunity. Will see if I can shuffle some other stock for a small top up
I don't know. I think I missed the boat to trade. Should have sold Monday. My feeling is the results are priced in. What the wider market does and how that affects Rio bhp etc is written in the stars.
I won't sell now, at most I might increase the holdings in my miners.
Are we expecting a largely red day today or has it already been priced in yesterday ?
Still holding but wondering if there is an opportunity to trade
Declared as 225c + 267 = 492c
Still a decent dividend return , and with Mongolia still to ramp up , better dividends in the years ahead
GLA LTH Diversification is key
Results were pretty much expected although there will be a bit of a sell off followed by further sustained rises over next few months, I think.
In early corporate news, Rio Tinto reported a sharp drop in annual profit, as it followed mining peer BHP in scaling back shareholder payouts.
The Anglo-Australian company said pretax profit in 2022 was USD18.66 billion, dropping from USD30.83 billion a year before. Annual revenue came in at USD55.55 billion, down from USD63.50 billion.
Rio Tinto proposed a final dividend of USD2.25, compared to USD4.17 a year before, bring the annual total to USD4.92, down from USD7.93.
"Despite challenging market conditions, we remain resilient because of the quality of our assets, our great people and the strength of our balance sheet," said CEO Jakob Stausholm
gla
Think that you are missing something here. The iron ore price is going up however the amount that they are supplying is going down so the amount of money they are receiving & can convert into dividend could be higher or lower.
Good morning, iron ore futures lifted US$1.40 or 1.1% to US$126.34 a tonne yesterday:
https://twitter.com/CommSec/status/1628125189203693568
Maybe I've been too optimistic then.
They've already paid an interim of 267c of that 475c so that leaves 208 cents? Which means £1.72?
consensus forecasts for Rio are full-year profits of US$26.5bn and an ordinary dividend of 475c, giving a yield of 6.3% at 6,217p.