Trading close to 52 week low $RIO (Rio Tinto PLC ADR)
Company that I already have in my portfolio but is currently undervalued in my opinion and I am considering of enlarging of my position. Apperently resaons for this fall is Chinese companies are lowering demand for iron ore and also strikes of Rio tinto workers and current low prices of iron ore.
Financials:
Both indicators of undervaluation Price/book ratio (1,73) and Price/earnings ratio (9,16) are pretty low. Earnings per share is currently at 6,6 $, number of shares outstanding is stable (they are not doing buybacks because they are paying dividends).
Mining is a cyclical buissines and I don t expect huge returns on this kind of stocks. But mining has been around for 10 000 years and has build modern civilization so I think it is going to stay here for some time. I like to own this kind of stocks because they are stable and you basically own crucial human resources.
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