19.2 C
Los Angeles
Saturday, April 1, 2023
- Advertisement -
- Advertisement -spot_img

After Tough 2022 Results, What’s Next for Rio Stock?

BusinessPersonal FinanceAfter Tough 2022 Results, What's Next for Rio Stock?

Shares of the diversified mining giant Rio Tinto (NYSE: RIO) That’s an increase of about 4% since the start of 2023, roughly in line with the S&P 500. The company recently reported earnings for Q4 and FY’22, with a 12% decline in full-year revenue to $55.6 billion, due to weaker price realization for iron ore (about 26% year-over-year). -year low) and sluggish shipments, amid weak demand from China. Rio’s adjusted earnings also declined nearly 38% year-over-year to $13.3 billion, partly due to higher energy prices. However, things may get better this year. The cost of iron ore, which is its largest single product, accounting for two-thirds Rio Tinto Revenue, has been in practice at a high level. Iron ore 62% Fe CFR futures have increased from around $79 a tonne in early November 2022 to around $111 in early January, while prices are currently rising to around $127 a tonne. The gains came as China eased some of its Covid-19 regulations, signaling a revival in demand for steel and steel-making inputs, given that the country is the world’s biggest consumer. Manufacturing activity has also picked up, with the Chinese manufacturing purchasing managers’ index (PMI) rising to 52.6 last month, the highest level since 2012, and up from nearly 50 in the previous month.

What if you’re looking for a more balanced portfolio instead? Our high quality portfolio And multi-strategy portfolio Has consistently beaten the market since late 2016.

Return March 2023
mtd [1]
YTD [1]
Total [2]
return to rio 6% 4% 92%
S&P 500 Return 0% 4% 78%
Trefis Multi-Strategy Portfolio 1% 8% 241%

[1] Month-to-date and Year-to-date as of 3/3/2023
[2] Cumulative Total Return since the end of 2016

invest with trefis Market Beating Portfolio
see all trefis price estimate

The views and opinions expressed here are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source link

My Hero Academia is the cure for toxic masculinity

The following article contains spoilers my hero academia, Season 6, Episode 24. One of Deku's most endearing characteristics...

Apple AirPods 2 review: Truly wireless, truly premium

Detailed review of Apple AirPods 2 The second generation of Apple...

hanatchu no ten

hanatchu no ten Source link

Follow us

Most Popular Articles