2018 earnings were in line with Deutsche Bank’s estimates. The broker observes the company’s preference now appears to have switched to dividends as opposed to buybacks, with the first special dividend declared since 2006.
On the negative side, the Oyu Tolgoi copper project is now under review. The broker maintains a Hold rating and $82.50 target.
Target price is $82.50.Current Price is $96.82. Difference: ($14.32) – (brackets indicate current price is over target). If RIO meets the Deutsche Bank target it will return approximately -17% (excluding dividends, fees and charges – negative figures indicate an expected loss).