0237 GMT - Rio Tinto bull Jefferies says it is a buyer of the miner's stock at current prices, despite a clearly challenging 1Q operationally and risks from Trump's trade war. It says Rio's Australia-listed stock trades at an EV/Ebitda of 5.0X based on Jefferies's 2026 estimates and a free cash flow yield of 6.4%. "We would expect Rio shares to be defensive as market volatility likely persists in the near term," Jefferies analysts say in a note. "These shares also offer leverage to an eventual cyclical recovery, although that probably doesn't happen until 2026." Rio Tinto is down 1.7% in Sydney at A$109.51 after reporting a fall in 1Q iron-ore shipments. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
April 15, 2025 22:37 ET (02:37 GMT)
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