Our Algo Engine generated a buy signal recently in RIO following the “higher low” formation at $71.00
RIO will soon complete US$11 billion + in asset disposals and further realization of their portfolio is likely. With net debt now at historically low levels, we expect the bulk of this cash to be returned to shareholders via buy-backs and dividends.
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Iron Ore prices appear to be steady at around US$63 p/t. We recommend accumulating RIO shares within the $65 – $73 range.
RIO
