Base metal and energy prices are off their lows, but that doesn’t mean a bull market for commodity stocks
Rio Tinto (RIO), a diversified U.K. mining stock in everything from coal to aluminum to diamonds, just raised its full-year copper output guidance.The move comes thanks to the company recovering from a spectacular landslide that struck a Utah mine and destroyed some $100 million worth of equipment, as production at the site is progressing faster than expected.
But you have to wonder why a materials stock like Rio Tinto would be moving so fast to get back on track if base metal prices remain so soft. (more)
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