Rio – 1Q21 Earnings
RIO:ASX is under Algo Engine buy conditions and is a current holding in our model portfolio.
1Q21 – lower volumes were offset by higher prices in iron ore and aluminum. We remain mindful of the increased commentary in the market where analysts are forecasting a peak in the strong fundamentals which have supported iron ore prices.
FY22 div yield for RIO is tracking at 5.5% to 7%, subject to iron ore prices within a range of $130 – $160 p/t.
Note: The spot price of iron ore rose to $US189 a tonne on Tuesday.
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