Why the interest in RIO? 'Cause it's fundamentally undervalued based on its current and future earnings and low PE
Analysts have been accustomed to valuing the big miners as short term cyclical stocks ... but this commodities boom is no short term 'flash in pan'.
We could well be seeing a paradigm shift in how stocks like RIO and BHP are being valued if the longevity of this mining boom is sustainable - and I think it is.
It looks as though some savvy predator or predatory group is awake to this - no wonder the RIO Board is concerned to protect itself from a hostile takeover bid that would see it 'go for a song'.
BHP got WMR on the cheap ... and MIM went to a foreign company on the cheap.
I don't think RIO will go cheaply if the Board plays its hand correctly.
There's plenty more upside in this one - I still reckon we will see RIO at $100+ this side of Xmas - maybe a lot sooner than some think.
jp morgan appointed, page-4
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Last
$123.68 |
Change
-2.360(1.87%) |
Mkt cap ! $45.91B | |||
| Open | High | Low | Value | Volume |
| $124.03 | $124.31 | $121.86 | $320.7M | 2.615M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3082 | $123.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $123.76 | 3044 | 1 |
View Market Depth
| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| RIO (ASX) Chart |