>Good numbers in iron ore and aluminium, copper underwhelming again - Rio Tinto yesterday evening released solid Q4 production numbers, broadly in line with our forecasts, but copper remained underwhelming. In the core Iron Ore division (75% of 2024e EBITDA), production stood at 78mt, -2% y-o-y, and shipments at 77.9mt, -1% (both standing 1% > ODDO BHF), affected by planned depletion (ahead of the start-up of Western Range in 2025) but also weather disruptions at the ...
>Good numbers in iron ore and aluminium, copper underwhelming again - Rio Tinto yesterday evening released solid Q4 production numbers, broadly in line with our forecasts, but copper remained underwhelming. In the core Iron Ore division (75% of 2024e EBITDA), production stood at 78mt, -2% y-o-y, and shipments at 77.9mt, -1% (both standing 1% > ODDO BHF), affected by planned depletion (ahead of the start-up of Western Range in 2025) but also weather disruptions at the ...
Long-Term Breakouts for Emerging & Frontier Markets The bullish outlook we initiated in early November 2023 remains intact. The S&P 500 and Nasdaq 100 (QQQ) still refuse to close below their 20-day MAs/21-day EMAs for more than 2-3 consecutive days -- and even if/when they do, important supports are close by, including at 4983-5050 on the S&P 500 and $425-$433 on QQQ (gap supports from 2/22/24). The Fed's next move is almost guaranteed to be a cut (though when it happens is up for debate). And ...
Le momentum autour de l’électrification, moins favorable dernièrement, a conduit à un changement profond de perception, passant d’un optimisme sans doute excessif à un pessimisme qui le semble tout autant. En effet, si nous avons revu en baisse nos hypothèses, nous visons néanmoins toujours une croissance dans les années à venir (y compris cette année), bien supérieure à celle du marché automobile dans son ensemble. Face à ces changements, tous les acteurs au sein de la chaîne de...
With momentum around electrification less favourable of late, we have seen a major shift in perception, from doubtless overly rose-tinted optimism to what looks to be similarly excessive pessimism. While we have reduced our BEV assumptions, we nonetheless still anticipate growth in the next few years (including this year), well ahead of that of the automotive market as a whole. In the face of these changes, the players in the value chain (mines, semiconductors, auto) are differen...
A director at Rio Tinto bought 500 shares at 5,020p and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing C...
>Underlying EBITDA in line, dividend at top of the range - Rio Tinto published FY 2023 underlying EBITDA of $ 23.9bn, in line with consensus and ODDO BHF estimates. The 9% the y-o-y drop was driven by lower commodity prices, especially for aluminium, and cost inflation, while volumes and forex provided small tailwinds. By division, Iron Ore reported EBITDA of $ 20.0bn, in line with the consensus and up 7% y-o-y driven by higher iron prices and good cost control with u...
>Underlying EBITDA in line, dividend at top of the range - Rio Tinto published FY 2023 underlying EBITDA of $ 23.9bn, in line with consensus and ODDO BHF estimates. The 9% the y-o-y drop was driven by lower commodity prices, especially for aluminium, and cost inflation, while volumes and forex provided small tailwinds. By division, Iron Ore reported EBITDA of $ 20.0bn, in line with the consensus and up 7% y-o-y driven by higher iron prices and good cost control with u...
Summary Marketline's Agnico-Eagle Mines Limited Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Agnico-Eagle Mines Limited - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Allianc...
Summary Marketline's Freeport-McMoRan Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Freeport-McMoRan Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Inv...
Summary Marketline's Anglo American plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Anglo American plc - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investmen...
>Q4 production dominated by iron ore, costs continue to rise - Here we are not discussing in detail the group’s Q4 production figures, which we commented on last week. They were broadly solid, enabling the group to meet all its annual production targets. But the overall performance was dominated by Pilbara Iron Ore, which remained the group’s earnings driver (82% of EBITDA 2023e) whereas other activities turned in more mixed performances. With annual shipments at 332...
>Production T4 dominée par le minerai de fer, la hausse des coûts se poursuit - Nous ne revenons pas en détail sur les chiffres de production du T4 que nous avions commentés la semaine dernière. Ils ont été dans l’ensemble solides et ont permis au groupe d’atteindre la totalité de ses objectifs de production annuels. La performance globale reste toutefois dominée par Pilbara dans le minerai de fer qui confirme son rôle de moteur des résultats (82% EBITDA 2023e) tandi...
We host our 27th ODDO BHF Forum in Lyon in 11th and 12th January 2024 and virtually 15th and 16th January 2024. In total, 335 companies will be presenting. In the following note, we provide some initial feedback of the company on day 2. - ...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.