Rio Tinto: Solid Buy With Simandou Upside To Priced In

Sloot/iStock Editorial via Getty Images Following our latest update on Anglo-American production results and BHP Group’s forward view, it is always an excellent momentum to reflect on what we learned, what has changed, and what’s new around the mining sector. For the above reason, today we are back to comment on Rio Tinto (RIO , RTPPF, RTNTF). 2023 has been a challenging year for the industry with production challenges and increasing CAPEX & costs. Here at the Lab, we have a long-standing buy rating on Rio Tinto. This is supported by 1) a fortress balance sheet with M&A optionality, 2)…