Mar. 25 at 4:47 AM
$RIO clinches a deal to keep Boyne smelter open — smart move protecting a key aluminum asset.
Stock trading at
$86.77, up 1.08% today but still sitting 6% below the 50 SMA (
$92.38) and nearly 5.5% under the 20 SMA (
$91.77). RSI at 41.12 — oversold territory after a brutal -11.16% month. Volume light at 0.70x.
Boyne news removes an operational overhang. P/E of 14.23 looks cheap if margins hold. Watching for reclaim of
$92 as the key level. 👀
#RioTinto #Mining #Commodities