Bayon Financial

Graeme Cunningham

Mr. Cunningham is a CFA Charterholder with over 15 years of experience as an equity research analyst, mostly on the sell side at investment banks, including Goldman and Jefferies, and with some time on the buy side. He has covered the consumer, telecoms, financials, energy and mining sectors, with a focus mainly on Southeast Asia, including Thailand and Vietnam.

Rio Tinto (RIO AU) 1H25 Results on 30 July: Earning Yield from Volatility Premium

Rio Tinto (RIO AU): Post-Earnings Drop Exceeds Expectations

BHP (BHP AU) Annual Results: Options Market Bets on Post-Earnings Upside

Independent Insight Provider

Bayon Financial provides industry and company analysis focusing on mid and small cap equity research coverage across a range of sectors including mining, financials and telecoms.

Equity Bottom-Up

<ul>
<li>The company reported Q2/25 production, with decent growth for iron ore, copper, aluminum and precious metals as expected, and guidance maintained for all divisions</li>
<li>A new CEO announced yesterday, Mr. Simon Trott, is head of Rio’s iron ore segment with  20 years at the company, not indicating any major shake-up of the corporate culture</li>
<li>We remain cautious given potential for a reversal of recent jumps in iron ore and copper, and a weak medium-term outlook for the former, while Rio's valuation remains moderate</li>
</ul>


The company reported Q2/25 production, with decent growth for iron ore, copper, aluminum and precious metals as expected, and guidance maintained for all divisions
A new CEO announced yesterday, Mr. Simon Trott, is head of Rio’s iron ore segment with  20 years at the company, not indicating any major shake-up of the corporate culture
We remain cautious given potential for a reversal of recent jumps in iron ore and copper, and a weak medium-term outlook for the former, while Rio's valuation remains moderate


Rio Tinto: Status Quo New CEO and Q2/25 Operations

Rio Tinto Ltd

Rio Tinto: Status Quo New CEO and Q2/25 Operations