Rio Tinto Plc : Cautious guidance for production in 2021. Iron ore prices peak. Valuation less attractive. Reduce vs Neutral
>2020 production in line with our estimates - Rio Tinto's production has been, overall, in line with our forecasts and management’s guidance. Copper production was better than expected. Demand for commodities is fuelled by 1/ the recovery of the global economy, 2/ accommodative monetary and fiscal policies and 3/ the change of policies in China towards the promotion of investment and domestic consumption. These tailwinds should more than offset the disruption to econo...Rio Tinto is engaged in finding, mining and processing mineral resources. Co. has four product groups: iron ore, which supplies the global seaborne iron ore trade; aluminium, which includes bauxite mines, alumina refineries, and aluminium smelters; Copper and Diamonds, which has managed operations in Australia, Canada, Mongolia and the U.S., and non-managed operations in Chile and Indonesia, with by-product including gold, silver, molybdenum and others such as sulphuric acid, rhenium, and lead carbonate; and Energy and Minerals, which comprises mining, refining and marketing operations across borates, coal, iron ore concentrate and pellets, salt, titanium dioxide and uranium sectors.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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