When is Rio Tinto's earnings date and what should you expect?
Rio Tinto will release its full-year 2024 results on 19 February at 18:00 GMT, with analysts forecasting earnings per share of $7.84 amid operational challenges.
Please note that this article has not been localised for Australian audiences. Details such as time zones, financial data presentation and terminology may not align directly with Australian standards or expectations.
What to expect from Rio Tinto's earnings
Analysts following Rio Tinto on trading platforms expect the mining giant to report revenue of $53.806 billion for 2024.
The world's leading mining company’s earnings per share (EPS) is expected at $6.78 for 2024, down 6.5% from its full year 2023 earnings at $7.25.
The forecasted earnings represent a slight decline from the previous year, reflecting lower commodity prices and operational challenges.
Heavy rainfall and cyclonic activity in Western Australia led to flooding in mining pits, necessitating the use of stockpiles and resulting in increased production costs.
Commodity trading participants should note the impact of elevated labour costs and inflationary pressures on margins.
Despite these hurdles, Rio Tinto has maintained its iron ore production guidance between 323 and 338 million metric tons.
Operational challenges and strategic developments
Weather-related disruptions have forced evacuations at key ports, potentially affecting Rio Tinto’s production targets.
The mining giant has intensified its focus on copper production, targeting 1 million tonnes annually by 2028.
This strategic pivot aims to capitalise on growing demand from renewable energy technologies and electric vehicles.
Share trading investors should consider the company's diversification beyond traditional iron ore operations.
The shift represents a significant move to align with global energy transition trends.
Market sentiment and analyst outlook
Despite operational challenges, market sentiment towards Rio Tinto remains cautiously optimistic.
According to LSEG Data & analytics, analysts have set an average price target of 5,944.6 pence the Rio Tinto share price, suggesting potential upside of approximately 17% from current levels (as of 17/02/2025). 3 analysts have a ‘strong buy’ recommendation, 11 a ‘buy’ call and 6 a ‘hold’ but one has a ‘strong sell’ recommendation.
Rio Tinto has a TipRanks Smart Score of ’7 Neutral’ but is rated as a ‘strong buy’ by analysts with 9 ’buy’ and 3 ‘hold’ recommendations (as of 17/02/2025).
Rio Tinto’s strategic diversification efforts have clearly been viewed positively by the majority of market watchers.
Rio Tinto technical analysis
The Rio Tinto share price has been range trading for the past couple of years but has been recently trying to recover from slightly above its major 4,509p-to-4,354p support zone, made up of the November 2021-to-September 2024 lows.
Rio Tinto weekly candlestick chart
The miner’s share price is struggling to overcome its December and January peaks at 5,113-to-5,155p, despite it trying to break through its nine-month downtrend line.
Rio Tinto daily candlestick chart
A daily chart close above the next higher November high at 5,240p would engage the September 2024 peak at 5,474p ahead of the May 2024 high at 5,854p.
Minor support below the 200-day simple moving average (SMA) at 5,034p and the psychological 5,000p mark can be spotted between the 11 February low and the 55-day SMA at 4,903.5p-to-4,895p.
How to trade Rio Tinto's earnings:
- Research the company's recent performance and market conditions
- Choose whether you want to trade or invest
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Remember that mining stocks can be volatile, and all trading carries risk. Consider your investment goals and risk tolerance before trading.
The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.
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