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The Stock of the Day is Rio Tinto (ASX: RIO)
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Rio Tinto (ASX: RIO) released its half yearly results, with profits coming in at $8.8B USD, 10% lower than the previous corresponding period. This was due to supply chain disruption from the mines due to train issues getting to the ports, according to the company. Our experts, Michael Wayne from Medallion Financial and Philip Pepe from Shaw and Partners, share their views on Rio Tinto. Philip says that while it's looking cheap at the moment, he's first keeping an eye on copper and iron ore prices before making a call on it. His view is that long-term copper will slowly get higher. Michael says results being reported aren't that exciting as mining companies update the market regularly. And while he says the results weren't bad, long-term the company will be affected by China and how commodities play out. So will it be a buy, hold or sell?
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Stocks covered on today's episode of 'the call':
Red Sky Energy (ROG)
Whitehaven Coal (WHC)
Universal Stores (UNI)
Dropsuite (DSE)
Bravura Solutions (BVU)
Atlas Arteria (ALX)
Qube Holdings (QUB)
Australian Agricultural Company (AAC)
Metcash Limited (MTS)
Reliance Worldwide (RWC)
Subscribe to ausbiz:
#asx #sharemarket #stocks #ausbiz #shares #investing #equities #hotstocks #stockpicking
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