Shares of diversified mining giant Rio Tinto Group (RIO) have gained 24% over the past six months to close its last trading session at $69.61. The stock price found support from growing demand from the world’s largest consumer of iron ore and other metals, China, after relaxations of its zero-Covid policy. Moreover, the growing inclination toward clean energy and decarbonization worldwide drives the demand.
Given its sound fundamentals and promising growth prospects, RIO could be an ideal buy this month. Let’s discuss why.
