Business
Why Rio Tinto (ASX:RIO) and BHP (ASX:BHP) look set for another profit upgrade
It’s hard to think about profit upgrades when the market is tumbling, but that’s what the Rio Tinto Limited (ASX: RIO) share price and BHP Group Ltd (ASX: BHP) share price could be facing.
Analysts are probably going to be left scrambling yet again to upgrade their price forecast for iron ore.
These forecasts are well below the iron ore spot price. For instance, Goldman Sachs pencilled in a price of US$137 a tonne by end of June, reported the Australian Financial Review.
That implies a 27% crash in the ore price in the next 10 weeks!
Market underestimating the iron ore price rally
Goldman isn’t the only one with a…
-
Noosa News22 hours agoEnsure voices are heard – Proctor
-
Noosa News24 hours agoCity of Moreton Bay claims homeless people consented to having camps thrown away
-
Business19 hours agoUp 34% this year, can Challenger shares keep rising according to Macquarie?
-
General23 hours agoReserve Bank board still looking for yesterday’s news