Rio Tinto Plc : Execution remains robust, the recent fall in iron ore prices should be seen in perspective
>Q2 production as expected, bad news offset by good news - The share was down 2.4% in London yesterday after the release of Q2 production figures. Most sector stocks were also down on lower sentiment on China following the disappointing Q2 GDP numbers. Otherwise, Rio’s Q2 production was somewhat soft but with no major surprises (cf. yesterday’s First Take) and the changes made to the guidance were either already expected or minor:The Iron Ore division (68% of 20...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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