Company Of The Day: Rio Tinto

by Trefis Team
+59.28%
Upside
62.94
Market
100
Trefis
RIO
Rio Tinto
Rate   |   votes   |   Share

What?

Iron ore futures fell by more than 20% last week, trading at under $100 per ton in New York. This is likely to hurt large iron ore producers such as Rio Tinto (NYSE:RIO), which derives over half its revenue from iron ore.

Why?

China is taking steps to clean up its highly polluting industrial sector, impacting steel demand. There has also been a downturn in China’s property sector, which could also hurt demand.

So What?

Rio Tinto stock declined by about 7% over the last five trading days.

See Our Complete Analysis For Rio Tinto

Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
Rate   |   votes   |   Share

Comments

Name (Required)
Email (Required, but never displayed)
Be the first to comment!