2303 GMT - Rio Tinto's cost guidance disappoints RBC Capital Markets analyst Kaan Peker, who was expecting a bigger improvement in costs given the ramp up in volumes at the Oyu Tolgoi and Kennecott mines. In a note, Peker also raises concerns about first ore from Simandou, expected later this year, and the possible impact that will have on the iron-ore market. Otherwise, Rio Tinto is delivering on its strategy and has one of the better growth rates among major miners, with a focus on copper, iron ore and lithium, Peker says. RBC has a sector perform rating and A$120 target on Rio Tinto, which last traded at A$121.95/share. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
February 19, 2025 18:03 ET (23:03 GMT)
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