Slightly Raising Near-Term Iron Ore and Met Coal Prices, But Long-Term Bearish Outlook Unchanged
We have slightly raised our 2016 iron ore and metallurgical coal price forecasts, based on higher-than-expected prices realised so far this year, but our long-term bearish outlook for the commodities is unchanged. The higher near-term cash flows for 2016, which carry more weight than later cash flows in our valuation model, lead us to slightly increase our fair value estimates across our mining coverage.Our Mineral Resources fair value estimate increases from AUD 3.50 per share to AUD 4.10 per...
Rio Tinto is a mining group based in the United Kingdom and Australia. Co. is engaged in the business of finding, mining and processing mineral resources. Co.'s major products are iron ore, aluminium, copper, diamonds, coal, uranium, gold and industrial minerals (borax, titanium dioxide and salt). Co.'s activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and Africa. Co.'s operations comprise four principal product groups - Iron Ore, Aluminium, Copper and Diamonds, and Energy & Minerals.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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