Mining
Global mining giant with operations in iron ore, aluminium, copper, and minerals across six continents.
View forensic reportRio Tinto at 12.1x forward earnings, BHP at 15.3x, and Vale at 7.8x. All three trade below historical averages despite strong commodity demand and constrained supply growth.
Rio Tinto trades at 12x forward earnings against BHP's 20x. The valuation gap is driven by iron ore concentration, margin volatility, and a diversification story that is still unfolding.
BHP at 19.1x, Rio Tinto at 16.2x, and Newmont at 18.9x earnings — the mining sector is offering value the market hasn't noticed.
BHP directors bought shares after the failed Anglo American bid. Rio insiders have been quiet for nine months. The divergence in insider conviction, combined with BHP's copper pivot, makes the choice clear.
Rio trades at 15.5x earnings with a 4.3% yield. BHP trades at 18.2x with a 1.8% yield. The valuation gap has widened — and we think the market has picked the wrong horse.
A renewables-backed smelter deal and production recovery signal a structural shift in Rio's second-largest business segment.