It's interesting how the current level of valuation compares with where RIO was 10 years ago.
In 2002 iron ore was around $30 a tonne, RIO produced 100mt of it annually and its market cap was around $50 billion. No significant growth in productions on the horizon and China story was still largely unrecognised.
Now in 2012 iron ore is $150 a tonne, RIO is making 250mt of it annually, set to grow to 450mt in the next few years and its market cap is just double what it was in 2002, at $100 billion.
You have to think either RIO was significantly overvalued in 2002, or its very undervalued now. I am leaning towards the latter.
getting worried, page-8
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Last
$123.63 |
Change
-0.640(0.52%) |
Mkt cap ! $45.96B | |||
| Open | High | Low | Value | Volume |
| $124.20 | $124.43 | $123.39 | $34.15M | 274.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 42 | $123.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $123.65 | 136 | 6 |
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| Last trade - 13.08pm 05/07/2024 (20 minute delay) ? |
| RIO (ASX) Chart |