Rio Tinto: stock up after H2 results

(CercleFinance.com) - Rio Tinto clawed back 1% in London, after the Australian mining group published underlying net earnings that were actually down 18% to $5.
22bn for H2 2024, missing Oddo BHF's estimate by 12%.

Down 8%, underlying EBITDA, at over $11.2bn, was 7% below the broker's expectations, although sales, down just 2% to nearly $26.9bn, exceeded its assumption by 1%.

Oddo BHF points out that iron ore performance remains strong, while aluminum confirms its strong recovery and, within copper, Oyu Tolgoi is well on its way to becoming one of the world's largest mines.

It also points out that Rio Tinto has announced a final dividend of $2.25 per share, implying a payout ratio stable compared with H1 at 60%, the upper limit of its target range of 40%-60%.


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