0200 GMT - Rio's Tinto's 4Q iron-ore output was in line with Jefferies's expectations, although shipments slightly missed, its analysts say in a note. "Notably, the portion of lower quality SP10 ore in the mix continues to increase and was higher than we had expected," they say. Copper production in 4Q significantly beat the bank's expectations, mostly because of an excellent quarter at Escondida, say the analysts. The Oyu Tolgoi mine had a good quarter as well, they say. Jefferies has a buy rating and A$147 target on Rio Tinto. The stock is little changed in Sydney at A$119.46. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
January 15, 2025 21:00 ET (02:00 GMT)
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