We are bullish on the iron ore industry in the long term, and our top picks are VALE SA (VALE) and Rio Tinto PLC (RIO). RIO has recently touched its three-year low level, and its valuations are cheap based on forward price-to-earnings and EV/EBITDA multiples.
Moreover, its reasonable dividend yield, historical balance sheet strength and diversified asset base make us recommend a long position in the stock for long-term investors. Near-term investors should stay away from this overall sector, given the volatilities accompanying metal prices, and its reliance on a steel rebound.
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