Rio Tinto: Further Downside Likely
- Rio Tinto Group's stock has continued to decline in the past few months, which isn't surprising considering the state of the iron ore market.
- Still, there's some hope as the company's iron ore production improved sequentially, and the commodity's price saw some uptick due to China's stimulus measures.
- But copper price sluggishness, on the other hand, can be a downer, along with the Arcadium Lithium acquisition, which will impact earnings next year.
JHVEPhoto
Iron ore miner Rio Tinto Group (NYSE:RIO) is down by 12% since I wrote about it two months ago. This isn't surprising. Even at that time, upside was unlikely going by the state of the commodity market.
But
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
