DJ MARKET TALK: Rio Meltdown Gives Opportunity - Broker
0146 GMT [Dow Jones] Rio Tinto's (RIO.AU) share price meltdown gives "genuine
long term investment opportunity", says Southern Cross Equities Director Charlie
Aitken. "We may have been seen as 'anti-RIO' during the takeover process,
but we are now 'pro-RIO' at these amazing low share prices." Notes RIO
trading at 20-year low price/book ratio of 1.4x which is 50% discount to BHP's
price/book of 2.8x. "Despite the serious current debt issues, asset sales will be
made, capex will be cut, dividends could be slightly reduced and maybe there is a chance
of a capital raising to the Chinese at a premium...there is no doubt that at the first
sign of management alleviating the debt burden by either a large divestment or a capital
raising, then RIO will rally very har
china & iron , page-5
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Last
$109.74 |
Change
-1.010(0.91%) |
Mkt cap ! $40.73B | |||
| Open | High | Low | Value | Volume |
| $110.96 | $112.25 | $108.88 | $110.5M | 1.003M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 763 | $109.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $109.78 | 3628 | 4 |
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| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| RIO (ASX) Chart |