|Bid||0.000 x 60000|
|Ask||0.000 x 60000|
|Day's range||40.300 - 40.625|
|52-week range||31.695 - 50.190|
|PE ratio (TTM)||15.91|
|Dividend & yield||N/A (N/A)|
|1y target est||N/A|
RBC Capital Markets has run the numbers on Australia's three big miners after their June quarter production reports and declared Rio Tinto (RIO.AU) (RIO) the stock to own. Analyst Paul Hissey says South32 (S32.AU) is his second favored stock, followed by BHP Billiton (BHP.AU) (BHP), after comparing the trio on a bunch of metrics including growth, returns, margins and valuations. Here's why Rio Tinto comes out ahead: Our preference remains with RIO (Outperform), driven not only by the slight advantage on the balance sheet (over BHP), but by both fundamental and relative discount to its major peer, as well as our forecast of an aggressive interim dividend (including US$1bn special) given an overall greater degree of latitude in putting excess capital to use.
The UK's Serious Fraud Office and the Australian Federal Police opened a corruption investigation into a multimillion dollar payment made by mining giant Rio Tinto to a private consultant. The investigations follow the company voluntarily alerting the SFO, AFP and US Department of Justice to a payment of $10.5 million to François Polge de Combret, for his work on the Simandou project, a mining region in Guinea. "The SFO is investigating suspected corruption in relation to the conduct of business in the Republic of Guinea by the Rio Tinto group, its employees and other associated with it," the SFO said in a statement.
Kumba stunned with a dividend three-times larger than expected