4 Stocks Soaring Higher On Biden's Infrastructure Plan

It is no surprise that CAT is rated “Strong Buy” with an “A” for Trade Grade, Buy & Hold Grade, Peer Grade, and Industry Rank. It is currently ranked #2 of 88 stocks in the Industrial – Machinery Industry.

Rio Tinto Group (RIO)

RIO is a company focused on the mining and processing of mineral resources. Its segments include Iron Ore, Aluminum, Copper & Diamonds, Energy & Minerals, and other operations.

In mid-December, RIO unveiled a pathway for the ongoing development of the underground project at Oyu Tolgoi in Mongolia, one of the largest known copper and gold deposits in the world. This plan is supposed to bring the underground project into production, following which Oyu Tolgoi is expected to produce 480,000 tons of copper per year.

RIO has entered into a new electricity agreement with Meridian Energy (MDDNF) that will allow New Zealand’s Aluminum Smelter (NZAS) to continue operating the Tiwai Point aluminum smelter until 2024. This agreement improves Tiwai Point’s competitive position and provides RIO and other stakeholders more time to plan.

COVID-19 continues to present additional challenges, which are being proactively managed by RIO’s resilient workforce. Total Bauxite production has increased 5% year-over-year to 14.50 million tons in the third quarter ended Sept. 30, 2020. Total Aluminum production has risen 1% from the year-ago to 0.80 million tons over the same period.

Analysts expect RIO’s revenues to grow slightly year-over-year to $43.73 billion for the about-to-be-reported year ended Dec. 31, 2020. The consensus EPS estimate of $7.18 for the fiscal 2020 indicates a 12.9% improvement. The stock has gained 39.5% over the past six months.

RIO’s POWR Ratings reflect this promising outlook. It has an overall rating of “Strong Buy” with an “A” for Trade Grade, Industry Rank, and Buy & Hold Grade, and a “B” for Peer Grade. Among the 40 stocks in the Industrial – Metals Industry, it is ranked #2.

United States Steel Corporation (X)

X, a Fortune 250 company and leading integrated steel producer, is engaged in producing flat-rolled and tubular products with production operations primarily in North America and Europe. The company operates through three segments: Flat-Rolled Products (Flat-Rolled), US Steel Europe (USSE), and Tubular Products (Tubular). It also provides railroad and real estate services.

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