Skip to content
 

Broker Tips: Rio Tinto, Dunelm, Glencore

*
  • Berenberg reiterates ‘Buy’ rating for Rio Tinto
  • Barclays reiterates target price for Dunelm
  • Deutsche and JP Morgan Cazenove reiterate Glencore ratings

Berenberg reiterates ‘Buy’ rating for Rio Tinto

Berenberg has reiterated its ‘Buy’ rating for Rio Tinto [LON:RIO] and maintained its target price of 6,600p. This follows the  FTSE 100 mining and metals company’s first-quarter performance in which the broker saw only limited changes. Iron ore production was in line with estimates while shipments were better than forecast. The broker noted a cut in Copper guidance relating to geotechnical issues at its Escondida site and conveyor issues at Kennecott, while bauxite production was below its estimate due to poor weather in Australia.

At the time of writing, shares were trading at 5,063p, down 13% for the year to date and -7% over the last 12 months.


Barclays reiterates target price for Dunelm

Barclays has reiterated its ‘Overweight’ rating for Dunelm [LON:DNLM] and held its target price at 1,300p. The FTSE 250 home furnishings retailer provided more good news last week with their quarterly trading update showing a 6% increase in sales and continued expansion of digital channels. Gross margins are set to fall by 30 basis points, but this wasn’t expected to impact full-year profits which remain forecast to come in as expected.

Shares were trading at 1,171.25p, up 18% for the year to date and 19% over the last 12 months.

Deutsche and JP Morgan Cazenove reiterate Glencore ratings

Deutsche Bank and JP Morgan Cazenove have reiterated their ‘Buy’ and ‘Overweight’ ratings respectively for Glencore [LON:GLEN] following a Q1 production update last week. The mining giant saw production broadly in line with expectations and full-year output guidance unchanged. The update noted that the marketing segment continued to perform well through Q1 2023, particularly within energy products, and once again the company is on track to exceed the top end of its long-term guidance range.

Shares were trading at 471.15p, down 13% for the year to date and +1% over the last 12 months.

Looking for great investing ideas? Sign up to our free newsletter.

This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

'How to' Guides

Our latest in-depth company reports

Detailed reviews of selected companies and investment trusts.

On the podcast

Sign up for great investing stock tips

Thanks to our Site Partners

Our partners are established, regulated businesses and we are grateful for their support.

Aquis
FP Markets
Pepperstone
WisdomTree
CME Group
Back To Top