|Bid||94.12 x 0|
|Ask||95.00 x 0|
|Day's Range||94.07 - 95.60|
|52 Week Range||69.41 - 95.60|
|Beta (3Y Monthly)||0.63|
|PE Ratio (TTM)||17.05|
|Earnings Date||Feb 27, 2019|
|Forward Dividend & Yield||3.99 (4.31%)|
|1y Target Est||60.42|
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The outlook for mining companies is still upbeat even if economic growth slows, although it pays to be choosy, according to Goldman Sachs.
Chinese steel mills may be forced to modify the way they operate as a result of lower availability of higher grades of iron ore after the collapse of a dam at a mine owned by Brazil's Vale. The exact ramifications to iron ore supply and China's vast steel sector from the burst dam at Vale's Corrego do Feijao mine, which has killed 142 people and left 194 others missing, are still to be quantified. Supply-wise, it's likely to run into tens of millions of tonnes of high-grade iron ore lost from the seaborne market, with some estimates reaching as high as 70 million tonnes.
slumped on a profit warning, which was due to its clients not losing enough. The contracts-for-difference bookmaker said the effect of European leverage regulations in combination with maintained marketing spend was “likely to result in 2019 profit being materially lower than current market expectations”. Full-year results from Plus500 showed revenue up 65 per cent to $720m on a 20 per cent higher cost base, resulting in profit nearly doubling to $503m.
European shares bounced back on Monday as new-found optimism among investors about the new round of trade talks between Beijing and Washington lifted bourses from one-week lows. Analysts cautioned that sentiment about the trade talks was volatile and that a favourable outcome was by no means a done deal. "As U.S.–Sino trade talks begin in Beijing we are once again seeing the markets adopt an all too familiar optimistic stance", wrote market City Index analyst Fiona Cincotta.
Moody's Investors Service ("Moody's") upgraded the senior unsecured ratings of all rated entities within the Rio Tinto Group ("Rio Tinto or Group") to A2 from A3. At the same time, Moody's has upgraded the short-term ratings for the relevant subsidiaries to P-1 from P-2. A full list of the ratings affected can be found at the end of this press release.
CAPE TOWN/LONDON (Reuters) - The wave of consolidation sweeping the gold mining sector is for now passing the wider sector by as diversified majors have delivered returns to keep shareholders happy and investors are wary of repeating past mistakes, executives said. Newmont Mining Corp said in January it would buy Goldcorp Inc, for $10 billion (8 billion pounds), creating the world's biggest gold producer. The merger following Barrick Gold Corp's agreement in September to buy Randgold Resources Ltd in a deal valued at $6.1 billion.
MELBOURNE/BEIJING (Reuters) - Vale SA's catastrophic dam failure in Brazil may knock it off its perch as the biggest iron ore exporter as the resulting rally in high-grade ore prices steers buyers towards rivals offering cheaper ore, industry sources said on Wednesday. The world's largest iron ore miner is facing public ire and tougher regulation after the collapse of its tailings dam in the Brazilian region of Brumadinho killed at least 84 in one of the country's worst ever industrial disasters. Vale on Tuesday said it would take up to 10 percent of its output offline as it decommissions a total of 19 dams over three years, a move that would cut up to 40 million tonnes of iron ore production a year.
A former Mongolian finance minister re-arrested earlier this month as part of an investigation into corruption claims surrounding the giant Oyu Tolgoi copper mine has been released on bail, a court official told Reuters on Wednesday. Authorities are investigating the 2009 negotiations over the development of the project, then owned by Canada's Ivanhoe Mines and now managed by Anglo-Australian miner Rio Tinto . Bayartsogt was one of the signatories to the 2009 investment agreement that kickstarted Oyu Tolgoi's development.
* Thorough financial investigation under way - official * Ex-finance minister was arrested, released last year * Five other people also under investigation - official By Munkhchimeg Davaasharav and Barbara Lewis ULAANBAATAR/LONDON, Jan 29 (Reuters) - Mongolia is working with overseas investigators to look into claims of corruption at its giant Oyu Tolgoi copper mine, the country's anti-graft body said on Tuesday, after the re-arrest of a former minister suspected of "abuse of power". Bayartsogt Sangajav was first arrested last April and released in June in a probe into 2009 negotiations over the development of the mine, then owned by Canada's Ivanhoe Mines and now managed by Anglo-Australian miner Rio Tinto . Bayartsogt, a former finance minister, was among the signatories to the investment agreement, approved by Mongolia's parliament.
Australian shares slipped on Tuesday, tracking sharp losses on Wall Street after Caterpillar and Nvidia Corp warned of weak Chinese demand, with robust gains in miners offset by declines in financial and ...
Today we'll evaluate Rio Tinto Limited (ASX:RIO) to determine whether it could have potential as an investment idea. In particular, we'll consider its Return On Capital Employed (ROCE), as that Read More...
Once seen as a laggard in the global mining industry, U.S. copper deposits have quietly drawn more than $1.1 billion in investments from small and large miners alike as Tesla and other electric carmakers scramble for more of the red metal. Four U.S. copper projects are set to open by next year - the first to come online in more than a decade - with several mine expansions also underway across the country, home to the world's fifth-largest copper reserves, according to the U.S. Geological Survey. The rising popularity of electric vehicles - which use twice as much copper as internal combustion engines - and increasingly pro-mining policies in the U.S. while other nations exert greater control over their mineral deposits are fueling the spending, according to mining executives and investors.
Once seen as a laggard in the global mining industry, U.S. copper deposits have quietly drawn more than $1.1 billion in investments from small and large miners alike as Tesla and other electric carmakers scramble for more of the red metal. Four U.S. copper projects are set to open by next year - the first to come online in more than a decade - with several mine expansions also underway across the country, home to the world's fifth-largest copper reserves, according to the U.S. Geological Survey. The rising popularity of electric vehicles - which use twice as much copper as internal combustion engines - and increasingly pro-mining policies in the U.S. while other nations exert greater control over their mineral deposits are fueling the spending, according to mining executives and investors."Fifteen years ago, U.S. mining was thought to be a dead industry, but now it's a profitable area for us," said Richard Adkerson, chief executive of Freeport-McMoran Inc.
PLC calls it the world’s largest robot: mile-long driverless trains traversing the sparsely populated Australian Outback on roughly 1,000 miles of track. American railroad companies, seeking to boost network efficiencies, call it the future. A decade in the making, Rio Tinto’s driverless train system, called AutoHaul, now manages roughly 200 locomotives that move iron ore from inland mines to coastal ports in Western Australia.
Global miner Rio Tinto on Friday logged a slight drop in quarterly iron ore production in December and said it expected to produce more iron ore in 2019 in a target range that was at the lower end of analyst expectations. Mined copper production beat its guidance, mostly due to higher grades and better productivity at Rio Tinto's Kennecott operations in the Utah, the company said in a statement. Meanwhile its outlook for iron ore production for this year, was in a range of 338 million tonnes to 350 million tonnes, making a Vuma consensus of 348.8 million tonnes at the top end of its guidance.
PLC (RIO.AU) shipped more iron ore from its Australian mining operations in 2018 as it increased output from its newest mine and worked others harder, and forecast a further rise in exports in the year ahead. Rio Tinto, one of the world’s biggest mining companies and top exporters of steel ingredient iron ore, has continued to raise output after a multiyear expansion, betting it can make strong margins over the long run from a market it relies on for the bulk of its earnings. The miner said it shipped 338.2 million metric tons of iron ore from its pits in the remote Pilbara region in northwest Australia last year, up 2% on 2017.
Anglo American (AAL.L) has promoted a section head it considers to have CEO potential, focusing its attention on internal talent as it begins searching for a successor to the man who steered the mining company through the 2015-16 commodities price slump. CEO Mark Cutifani has won plaudits for his stewardship since taking the helm in 2013, though his strategic ability has been questioned in some quarters despite Anglo shares climbing around 12 percent last year, outperforming London-listed peers including Glencore (GLEN.L) and Rio Tinto (RIO.L)(RIO.AX). Analysts say that Cutifani deserves credit for driving efficiency but some remain critical of a decision to halt debt-reducing asset disposals, even though this helped the company to benefit from the upturn in prices for commodities such as iron ore and coal.
PLC (RIO.LN) has declared force majeure on some iron-ore contracts after a fire at its Australian port facilities last week. The mining company, one of the world’s top exporters of steel ingredient iron ore, said a fire broke out at the Cape Lambert port in Western Australia state on Jan. 10, causing damage to a section of the plant that separates its Robe Valley lump and fine products. “Rio Tinto is assessing the full impact of the damage and will do all it can to try and minimize disruption to our customers,” the company said in an emailed statement.
Rio Tinto Ltd closed part of its Cape Lambert iron-ore export terminal in Western Australia after a fire caused damage, the company said on Thursday. Cape Lambert is located about 1,250 km (780 miles) north of the Western Australian capital of Perth. A video posted on the Facebook page of the Construction, Forestry, Mining and Energy Union showed flames rippling down a conveyor belt in the pre-dawn darkness as on-looking workers exclaim.
After Rio Tinto Limited's (ASX:RIO) recent earnings announcement in June 2018, it seems that analyst forecasts are fairly pessimistic, as a -9.9% fall in profits is expected in the upcoming Read More...