The Stock of the Day is Rio Tinto (ASX: RIO)

Stock of the day is Rio Tinto (ASX: RIO), with an update to the market: iron ore production is up 2% from Q1 and shipments higher too. The company is maintaining its current 2024 iron ore guidance between 323 and 338 million tonnes. And has also received approval from Guinean and Chinese authorities to invest in its seminal high grade iron ore project in Guinea and is expected to put in $9.2 billion into the project and surrounding infrastructure. Our experts, Philip Pepe from Shaw and Partners and Rudi Filapek-Vandyck from FNArena, share their views on the stock. Rudi says that while the recent data from China was negative, Rio still has exposure to copper which he has no doubt will go higher in the years to come and adds that the share price is not excessively high if commodity prices stay up or go higher. Philip says he agrees with Rudi, noting that the miss in the guidance is minor and that China will rebound. So will it be a buy, hold or sell?
Watch the full episode here: ausbiz.co/thec...
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[@ARThiruchchenthooran]

This channel deserves more subscribers

[@2cartalkers]

Pure, unadulterated BALONEY. RIO stock can not get out of the low $60.00 range. It is a laggard.