UBS has maintained a "Neutral" rating for Rio Tinto plc, setting a target price of 5250 pence following an investor day that conveyed mixed messages. Analyst Myles Allsop noted management's confidence in achieving targeted growth while sustaining a solid base dividend.
UBS has maintained a "Neutral" rating for Rio Tinto plc, setting a target price of 5250 pence. Analyst Myles Allsop highlighted potential challenges for the company, including delays in production at the new Simandou iron ore mine in Guinea, which is expected to start in 2025, due to record rainfall and political uncertainties.
UBS has maintained a "Neutral" rating for Rio Tinto, setting a target price of 5250 pence. Analyst Myles Allsop highlighted the upcoming production at the Simandou iron ore mine in Guinea, expected to start in 2025, but noted potential challenges from severe rainfall and political instability.
UBS has reduced its target price for Rio Tinto from 5300 to 5250 pence, maintaining a "Neutral" rating. The adjustment follows the release of third-quarter production figures, indicating strong performance in iron ore and aluminum, while the copper division shows signs of weakening.
UBS has lowered its price target for Rio Tinto plc from 5300 to 5250 pence, maintaining a "Neutral" rating. Analyst Myles Allsop noted that while the company is on track in iron ore and aluminum, its copper division is underperforming.
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