|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||61.88 - 61.88|
|52-week range||43.00 - 64.30|
|Beta (3Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
A U.S. judge on Monday rejected Rio Tinto Plc's bid to dismiss a Securities and Exchange Commission lawsuit accusing the Anglo-Australian mining company of civil fraud in its handling of a failed investment in a Mozambique coal project. U.S. District Judge Analisa Torres in Manhattan said the regulator may pursue some claims in its October 2017 lawsuit against Rio Tinto, former Chief Executive Officer Tom Albanese and former Chief Financial Officer Guy Elliott. Torres narrowed the main fraud claim against Rio Tinto and Albanese to focus on the former CEO's statements about Mozambique growth prospects, finding no proof they intended to overvalue Rio Tinto Coal Mozambique ("RTCM") by more than $3 billion.
A U.S. judge on Monday rejected Rio Tinto Plc's bid to dismiss a Securities and Exchange Commission lawsuit accusing the Anglo-Australian mining company of civil fraud in its handling of a failed investment in a Mozambique coal project. U.S. District Judge Analisa Torres in Manhattan said the SEC may pursue some of its claims in the October 2017 lawsuit, which also charged former Chief Executive Officer Tom Albanese and former Chief Financial Officer Guy Elliott with fraud.
Rio Tinto said on Monday it would recommend that shareholders vote against a resolution requiring the miner to report its direct emissions and those of its customers in greater detail. In a notice ahead of its annual general meeting in May, Rio said shareholders should vote against the proposed rule change that would have it set transition plans that adhere to the goals of the Paris Agreement to limit global warming to 1.5 degrees Celsius (2.7 Fahrenheit).
Rio Tinto Group last year became the first major miner to stop digging up coal altogether. Glencore Plc, historically one of the commodity’s most vocal boosters, has promised to cap production at current levels. “We have a portfolio free of coal and oil and gas,” Rio’s Chief Executive Officer Jean-Sebastian Jacques told investors after annual results last month.
Rio Tinto is in talks to move into the next phase of an agreement with Apple, Chief Executive Jean-Sebastien Jacques said on Friday, as the miner looks to transition its aluminium business to tap a low-carbon economy. Last May, Rio and Alcoa announced a joint venture, backed by Apple, to commercialise by 2024 a process that emits oxygen and replaces all direct greenhouse gas emissions from the traditional smelting process for aluminium. Bauxite is the raw material for aluminium, which is used in everything from beer cans to aeroplanes and is expected to gain greater use in a decarbonising economy as a lightweight alternative to steel.
Hedge fund Odey Asset Management has launched a new commodities fund which, according to the Financial Times, has taken a short position in Rio Tinto's giant Oyu Tolgoi copper mine in Mongolia. The Odey Concentrated Natural Resources Fund, which launched on March 1, will invest in the commodity sector, using both long and short positions in a range of asset classes, but mostly equities, according to Odey's website. A spokeswoman for Odey declined to provide details, but the Financial Times reported the largest short position of the fund was in Turquoise Hill Resources, the Canadian firm that partly owns Oyu Tolgoi.
SYDNEY—Rio Tinto PLC pledged record returns to shareholders as the mining industry’s cash bonanza continues, even as executives signal concern over the global outlook. Rio Tinto, the world’s second-biggest mining company by market value, said Wednesday annual capital returns would total $13.5 billion for 2018, including a final dividend valued at $3.1 billion and a special dividend amounting to $4.0 billion. Rio Tinto, which handed investors a handsome $9.7 billion in 2017, joins a parade of global mining companies delivering cash to shareholders as they reap the benefits of asset sales and strong balance sheets, repaired after a commodity slump a few years back.
to neutral from buy “to reflect a more demanding valuation and full expectations,” the investment bank says. The company reported a sharp decline in 4Q net profit, to EUR255 million from EUR530 million. PostNL’s underlying business is still under pressure, the brokerage notes.
Balancing the two can get tricky, particularly when fossil fuel prices are high. Meanwhile, coal prices have been doing quite well. Glencore’s underlying Ebitda was up 8% in 2018, largely thanks to coal.
Flush from the recent sale of its stake in the Grasberg copper mine in Indonesia and other non-core aluminium and coal assets, Rio will have returned total cash of $13.5 billion to shareholders for the year, after declaring a $4 billion special dividend of $2.43 per share and a final dividend of $1.80. The special dividend was "far bigger than expected," said analyst Glyn Lawcock of UBS in Sydney.
PLC (RIO.LN) said it will pay a special dividend worth US$4 billion as it recorded a 56% rise in annual net profit. The world’s second-biggest miner by market value on Wednesday reported a net profit of US$13.64 billion for 2018, up from a profit of US$8.76 billion a year earlier. Rio Tinto said it would use the cash from that sale to fund a special dividend of US$2.43 per share, which fattened a capital return that has also involved buying back shares worth up to US$3.2 billion.
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on ...
The outlook for mining companies is still upbeat even if economic growth slows, although it pays to be choosy, according to Goldman Sachs.
Gain in heavyweight mining and banking stocks helped European shares recover from one-week lows on Monday as investors turned their focus to the start of a new round of trade talks between Beijing and ...
Guinea stands by its requirement that output from the long-delayed Simandou iron ore project must be exported from a Guinean port, despite the collapse of a deal aimed at jump-starting development, its mines minister said on Wednesday. Simandou is one of the world's biggest iron deposits, containing billions of tonnes of high-grade ore, but development has been complicated by its location far from the coast and the enormous $23 billion cost of the required infrastructure. An outline deal for Rio Tinto (Hanover: CRA1.HA - news) to sell its 45.05 percent stake in the project to partner Aluminum Corp of China (Chinalco), which holds 39.95 percent, lapsed last year without producing an agreement.
European listed firms expect to receive 449 billion euros ($514 billion) in total revenue from China in 2019, with luxury brands and automakers the most exposed sectors, a Refinitiv analysis of company data shows. The data underscores the role China's burgeoning middle class is increasingly playing in determining the corporate and economic health of Europe, as concerns grow that their spending has slowed as Chinese economic growth cools. Among the pan-European STOXX 600 index, consumer firms including Swatch, Richemont and BMW (EUREX: BMWE.EX - news) , derived the biggest chunk of revenues from China - with a total of 120 billion euros ($137 billion) sales from the country, the analysis based on companies' estimates of their 2019 revenue shows.
European listed firms expect to receive 456 billion euros ($521 billion) in total revenue from China in 2019, with luxury brands and automakers the most exposed sectors, a Refinitiv analysis of company data shows. The data underscores the role China's burgeoning middle class is increasingly playing in determining the corporate and economic health of Europe, as concerns grow that their spending has slowed as Chinese economic growth cools. Among the pan-European STOXX 600 index, consumer firms including Swatch, Richemont and BMW (EUREX: BMWE.EX - news) , derived the biggest chunk of revenues from China - with a total of 127 billion euros ($145 billion) sales from the country, the analysis based on companies' estimates of their 2019 revenue shows.
Global aluminium production grew at its slowest pace in a decade in 2018, and most of that was in the first half of the year. Output totalled 64.34 million tonnes, according to the International Aluminium Institute (IAI), up by just 1.5 percent on 2017. It was the weakest production performance since 2009, when the industry was battered by the global financial crisis, a collapse in prices and multiple smelter closures.