RIO.L - Rio Tinto Group

LSE - LSE Delayed price. Currency in GBp
4,154.50
+63.00 (+1.54%)
At close: 4:39PM GMT
Stock chart is not supported by your current browser
Previous close4,091.50
Open4,140.00
Bid4,147.00 x 0
Ask4,146.00 x 0
Day's range4,091.50 - 4,191.50
52-week range3,489.00 - 5,039.00
Volume1,978,429
Avg. volume3,018,810
Market cap70.019B
Beta (3Y monthly)0.80
PE ratio (TTM)5.21
EPS (TTM)797.40
Earnings date1 Aug 2019
Forward dividend & yield2.59 (6.34%)
Ex-dividend date2019-08-08
1y target est53.70
  • Reuters - UK Focus

    Mongolia amends constitution in bid to end political instability

    Mongolia has amended its constitution for the second time since it was ratified in 1992, strengthening the powers of the prime minister in a bid to end years of costly political instability and economic stagnation. In Mongolia's hybrid political system, power has been shared by an elected president and the government, which is appointed by parliament and headed by a prime minister. The president, who usually comes from the political party in opposition, is able to veto legislation and propose his own.

  • Bloomberg

    BHP’s New Boss Shows Mining Is Still Nervous

    (Bloomberg Opinion) -- When times are good, focus on the top line and the bottom line will look after itself. When times are bad, you should do the reverse.That looks a lot like the strategy the world’s biggest miner, BHP Group, has followed over the years in appointing its chief executive officers. The question the resources sector should ask in looking at Thursday’s appointment of Mike Henry to succeed Andrew Mackenzie is whether his focus is the top line, or the bottom.Henry has spent the last three years as the operations chief for BHP’s Australian assets, where he’s focused on improving efficiency and bringing down costs — resolutely bottom-line work. The bulk of his experience, however, is in the top-line marketing side of the business — finding ways to get the best possible prices for the minerals BHP digs and pumps. That resume harks back to Mackenzie’s predecessor.With an upswing in prices for its key commodities of iron ore, coal and oil under way in 2007, BHP appointed Marius Kloppers, a South African veteran of its manganese business, to the chief executive role. Kloppers pushed hard to shift the pricing of first manganese, and then iron ore and coal, toward spot markets that more closely track supply and demand.That helped BHP and its competitors extract additional revenues from their customers as spot prices surged in the years before and after the 2008 financial crisis — but when the market started to turn six years later, the emphasis started to look misplaced. After the demand growth that had supported the capital spending boom of the Kloppers era started to ebb, BHP's operations looked bloated and wasteful.Mackenzie, with a background running petrochemicals for BP Plc and mines for Rio Tinto Group and BHP, was brought in as an operational wizard to fix the rot. He slimmed down the business, spun off the less attractive assets as South32 Ltd., and reduced expenditure to a level that could survive in the new, leaner environment.At first blush, Henry looks like a swing of the pendulum from Mackenzie’s operations focus back to Kloppers’ marketing background.He sold first coal, then energy and freight and petroleum for BHP before being appointed as Kloppers’ marketing president and then chief marketing officer in 2010. Only after Mackenzie took over the top job and Henry was entering the frame as a potential eventual successor was he shifted over to round out his experience on the operations side.There’s reason to think that a more bullish focus is finally due. The resources sector has never really climbed out of the slump it entered around 2014, but the S&P 500 breaks new records on a daily basis. Forecasters could be underestimating the potential of a strong economic rebound in 2020, according to Goldman Sachs Group Inc. Bloomberg’s indexes of energy and industrial metals are still at subdued levels, but the run-up in iron ore prices this year put Australia & New Zealand Banking Group Ltd.’s index of bulk materials such as iron and coal at its highest level since 2013. That should be good news for BHP, since its share price tends to track that benchmark closely.At the same time, it seems to have been as much Henry’s recent experience managing mines that’s recommended him for the top job. He’s been responsible for rolling out autonomous trucks at the Jimblebar iron ore mine in northwest Australia and for setting up operations centers in Perth and Brisbane to run the company’s iron and coal mines remotely. Costs of late have been sharply lower in both divisions, although those for Queensland coal are creeping back up.If anything, it’s a sign of how things have changed for the mining industry that even scions of the marketing business like Henry have turned into born-again operations experts. BHP still has Elliott Management Corp. hanging around as a major shareholder. While its activist campaign will have been quiet for almost two years by the time Henry assumes the top job in January, it remains a constraint on any chief executive in a bullish mood.More to the point, a stronger outlook for the U.S. economy isn’t the medicine that can revive BHP’s boom years. China still consumes about half of almost every major mined commodity and accounted for about 55% of BHP’s revenue last year — and all the evidence is that the economy there is slowing. BHP’s key commodities could be heading for an even rougher patch if China’s car market continues to crater and its still-buoyant conditions in real estate fall to more normal levels.Should that be the case, the pendulum won’t be swinging back from the bean-counters to the marketers. If anything, it will have further to go in the other direction.To contact the author of this story: David Fickling at dfickling@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Reuters - UK Focus

    UPDATE 3-China-backed consortium in $14 bln Guinea iron ore deal

    The Société Minière de Boké - Winning consortium offered $14 billion to win a tender to develop part of Guinea's Simandou iron ore project, edging out Australia's Fortescue, sources familiar with the talks told Reuters on Wednesday. The consortium - representing Chinese, French, Singaporean and Guinean interests - has committed to developing blocks 1 and 2 of the largest known deposit of its kind, holding more than 2 billion tonnes of high-grade ore.

  • Unhappy with your Cash ISA interest rate? I like these two high dividend yield stocks
    Fool.co.uk

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  • How I’d boost my State Pension with these 2 unloved FTSE 100 shares
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  • How secure is the Rio Tinto dividend payment (LON:RIO)?
    Stockopedia

    How secure is the Rio Tinto dividend payment (LON:RIO)?

    There is some evidence that buying progressive dividend payers with solid balance sheets is a strategy well-rewarded by the market. After all, who doesn’t like8230;

  • Oilprice.com

    The 5 Most Promising Gold Companies For 2020

    After a difficult 2018, gold stocks are poised to rebound this year and as the ‘peak gold’ narrative grows stronger, there are 5 gold stocks that every investor should keep an eye on

  • This FTSE 100 share price spiked after a ‘Eureka Moment’. Here’s what I’d do now
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    This FTSE 100 share price spiked after a ‘Eureka Moment’. Here’s what I’d do now

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  • Reuters - UK Focus

    UPDATE 2-FTSE rebounds as oil and mining stocks are lifted by U.S. and Chinese data

    Oil heavyweights and miners led the charge on London's FTSE 100 on Friday as Chinese factory data and a stronger than expected U.S. employment report helped the index to bounce back from its worst session in a month. The FTSE 100 advanced 0.8%, recouping almost all of its more than 1% drop in the previous session, while the FTSE 250's 0.7% advance was its best day in more than two weeks.

  • Is Rio Tinto Group's (LON:RIO) CEO Paid At A Competitive Rate?
    Simply Wall St.

    Is Rio Tinto Group's (LON:RIO) CEO Paid At A Competitive Rate?

    J-S Jacques has been the CEO of Rio Tinto Group (LON:RIO) since 2016. This analysis aims first to contrast CEO...

  • Reuters - UK Focus

    UPDATE 2-Rio Tinto flags higher costs, cloudy Australian aluminium future

    Rio Tinto on Thursday flagged higher costs as it replaces aging infrastructure and boosts iron ore production, and also raised questions over the future of its Australian aluminium business. Rio, which could become the world's top iron ore producer this year, was beset by weather and operational issues in the first quarter which caused it to cut its annual guidance.

  • Bloomberg

    Rio Tinto Says Iron Ore Shipments to Rise in 2020 and Beyond

    (Bloomberg) -- Iron ore shipments from Rio Tinto Group could rise as much as 5% in 2020 as the producer recovers from operational issues in Australia this year, the exporter says Thursday.The No. 2 miner will also have consistent capacity for volumes of about 360m tons a year once a first phase of the new Koodaideri mine is fully commissioned, expected in late 2021, Rio said in a statement ahead of investor presentations in London.Key InsightsRio said guidance for 2019 iron ore shipments remains unchanged at 320m-to- 330m tons, at a cost of $14-15/ton. Operations in Australia have, at times, operated at a run rate of 360m tons, though not on an annual basis.The company was forced to trim production in Western Australia earlier this year after falling behind with mine plans. The exporter was producing too much lower-quality iron ore and forced to reduce total volumes. Work to make improvements is on track, CEO Jean-Sebastien Jacques told reporters on a media call.Total capital expenditure in 2019 will be lower at $5.5b, with guidance raised to $7b in 2020, Rio said. Guidance for 2021 and 2022 is for expenditure of about $6.5b, Rio said.Work to redesign the mine at Oyu Tolgoi is continuing and a final estimate of cost and schedule is still expected to be delivered in the second half of 2020.Market ReactionRio declined 0.4% Thursday in Sydney trading to trim its advance this year to about 16%. That compares to a 5% gain for rival BHP Group. The statement was released after the close of trading.Get MoreRead the statement and more details here.To contact the reporter on this story: David Stringer in Melbourne at dstringer3@bloomberg.netTo contact the editors responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net, Keith Gosman, Phoebe SedgmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters - UK Focus

    RPT-COLUMN-Rio Tinto says miners need to do more on the environment. Here's how: Russell

    The boss of one of the world's biggest mining companies wants the industry to do more than talk about winning a social licence in an increasingly carbon constrained world. Rio Tinto Chief Executive Jean-Sebastien Jacques told the London Metal Exchange (LME) annual forum on Monday that mining needed to do more on the environmental, social and corporate governance (ESG) front in order to remain relevant and profitable as the world deals with climate change. "Lots of people are talking about it, but I'm not sure there is action," Jacques said.

  • Reuters - UK Focus

    De Beers banks on 'diamonds are for me'

    Anglo American unit De Beers said its 2019 marketing budget will exceed last year's figure of $170 million and will focus on the biggest market the United States, where women lavishing diamonds on themselves has boosted sales. While U.S. demand has held firm, the diamond market has weakened elsewhere and trade tensions and protests in Hong Kong have dented sales in China, the second largest diamond market. Esther Oberbeck, group head of strategy at De Beers, the world's biggest diamond producer by value, said in an interview the company was about to launch new marketing campaigns, focused on the U.S. and China.

  • Miner Seeks Answers Amid Indonesia Nickel Shock: LME Week Update
    Bloomberg

    Miner Seeks Answers Amid Indonesia Nickel Shock: LME Week Update

    (Bloomberg) -- LME Week, the biggest annual event of the London metals world, kicks off Monday.Conversation topics for traders, miners and investors gathering around the city will include the recent turmoil in the nickel market, especially after Indonesia accelerated a ban on ore exports, and the protests in Chile that have disrupted copper operations.This year’s event takes place against the backdrop of weak demand for most key metals.Highlights:Copper demand will probably decline slightly this year, before increasing 1.4% in 2020, according to CRU Group.Nickel and gold were seen as having the most upside potential in a poll of attendees at an LME seminar.Mining companies are going to have to get used to being smaller and more nimble, according to Rio Tinto Group chief Jean-Sebastien Jacques.Here are the latest developments, updated throughout the day. (Time-stamps are local time in London.)Norilsk Seeks Answers (12:30 p.m.)The nickel industry is digesting the news that Indonesia suspended exports of nickel ore with immediate effect, but producers need more details, said Denis Sharypin, head of market research at MMC Norilsk Nickel PJSC.If the ban is implemented immediately, it will result in tighter supplies in the next two months amid demand from China, which will be positive for prices, he said.Zinc Seen Declining (11:20 a.m.)Zinc prices are likely to fall further in the near term on subdued demand, said Caroline Bain, chief commodities economist at Capital Economics Ltd.Prices may reach $2,300 a ton by year-end with potential for a small revival to $2,400 by the end of 2020. Futures on the LME traded around $2,535 on Monday.While risk appetite in general may start to pick up in the second half of next year, zinc threatens to remain a relative underperformer, Bain said.Nickel Deficit (11:15 a.m.)The nickel market remains in “fundamental deficit,” said Edward Meir, president of Commodity Research Group and senior commodity consultant at ED&F Man Capital Markets.Stainless steel will remain the main consumer and driver for the metal, he said. “Some caution is in order” for expectations about the price impact on nickel and other metals from electric vehicle demand.Meir sees nickel prices averaging $14,500 a ton next year, compared with Monday’s price of $16,950.Copper Consumption (10:45 a.m.)Copper demand will probably decline slightly this year, before increasing 1.4% in 2020, said Vanessa Davidson, head of base metals research and strategy at CRU Group.CRU sees world copper mine output rising 1.3% in 2020 and refined copper production expanding 1.4%.This year, the lower demand will be balanced out by flat refined production and a 1% drop in mine output.Bearish Aluminum (10:40 a.m.)Sentiment in the aluminum market is “extremely bearish,” said Jorge Vazquez, managing director of Harbor Aluminum. He sees a price rally in the next six months.The aluminum surplus will widen as production capacity increases and demand growth is unlikely to increase substantially, he said.Nickel, Gold Are Favorites (10:30 a.m.)Nickel and gold won the most votes as the metals with the most upside potential in a poll of attendees at the LME seminar Monday.Citi on Outlook (10 a.m.)While there’s no clarity among traders and investors on demand growth and commodity prices next year, it is obvious that global trade is in retreat near-term due to tariff fights, said Catherine Mann, global chief economist at Citigroup.It’s not only a bilateral war between China and the U.S., she said, “it’s a global war.”Trafigura on Sourcing Plan (9:46 a.m.)Trafigura Group’s head of corporate responsibility, James Nicholson, said the London Metal Exchange’s responsible sourcing strategy is a positive step forward for the sector.The plan “shows an industry coming of an age,” he said. “The possibility of consolidation under an exchange as important as this one is a really significant step.”Nicholson said he’s seen a dramatic shift over the past decade in the attention that Trafigura’s banks pay to social and environment issues.Chile Effect (9:20 a.m.)The unrest in Chile means that some delegates from the top copper-producing nation are missing LME Week this year. Codelco Chairman Juan Benavides canceled his trip and a scheduled event on mining in Chile will no longer take place. Some mines were disrupted last week and others were halted as the largest demonstrations in the country in decades wreaked economic havoc.Rio on Growth (8:30 a.m.)After losing billions on mega deals and projects, mining companies are going to have to get used to being smaller and more nimble, according to Rio Tinto Group chief Jean-Sebastien Jacques.“In the past, most major miners have pushed for bigger mines, using bigger machinery, processing ever greater quantities of material,” Jacques said in a speech. “As demand for some materials remains flat or declines, and the circular economy takes hold, the push for scale will change.”\--With assistance from Thomas Biesheuvel.To contact the reporters on this story: Elena Mazneva in London at emazneva@bloomberg.net;Mark Burton in London at mburton51@bloomberg.net;Jack Farchy in London at jfarchy@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Liezel Hill, Nicholas LarkinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Rio Tinto says miners need to leverage technology as scrutiny of the industry rises
    Reuters

    Rio Tinto says miners need to leverage technology as scrutiny of the industry rises

    Mining companies should make more use of technology to respond to increasing demands from investors and communities for responsible mining practices, Rio Tinto CEO Jean-Sébastien Jacques said on Monday. Technologies such as autonomous rail-cars and increased automation can lower the impact of the industry on the environment as well as raise profit margins, he said, adding that blockchain can be deployed to track if the supply chain met ethical standards. "There is absolutely no doubt in my mind we will face greater regulation and scrutiny," Jacques said in a keynote speech marking the beginning of London Metal Exchange (LME) Week in London.

  • Reuters - UK Focus

    CORRECTED-Rio Tinto says miners need to leverage technology as scrutiny of the industry rises

    Mining companies should make more use of technology to respond to increasing demands from investors and communities for responsible mining practices, Rio Tinto CEO Jean-Sébastien Jacques said on Monday. Technologies such as autonomous rail-cars and increased automation can lower the impact of the industry on the environment as well as raise profit margins, he said, adding that blockchain can be deployed to track if the supply chain met ethical standards. "There is absolutely no doubt in my mind we will face greater regulation and scrutiny," Jacques said in a keynote speech marking the beginning of London Metal Exchange (LME) Week in London.

  • Investing.com

    Asian Stocks Rise on Sino-U.S. Trade Hopes

    Investing.com - Asian stocks rose in morning trade on Monday as China and the U.S. appeared close to agreeing on a “phase one” trade deal.

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  • Reuters - UK Focus

    LMEWEEK-Metals sector in costly battle to turn green

    Metals producers, from miners to smelters, are grappling with increasingly tough and costly environmental demands imposed by banks seeking cleaner investments. While the transition may prove overwhelming for smaller producers, larger companies are playing a long game, casting ahead to a period where greener technology helps slash their costs. Metals and mining are responsible for 10% of the total impact on climate change, according to the United Nations Environment Programme.

  • What I’d do about the Rio Tinto and Fresnillo share prices today
    Fool.co.uk

    What I’d do about the Rio Tinto and Fresnillo share prices today

    Rio Tinto (LON: RIO) shares have been climbing ahead of most sector rivals, while Antofagasta and Fresnillo report satisfying production levels.

  • Rio Tinto smelter closure risk rocks New Zealand's top power supplier
    Reuters

    Rio Tinto smelter closure risk rocks New Zealand's top power supplier

    Rio said it would make a decision on the smelter, New Zealand's largest single power user, in early 2020. "We expect the short to medium outlook for the aluminium industry to be challenging and this asset to continue to be unprofitable," Rio Tinto said in a statement.

  • Investing.com

    Premarket London: Antofagasta Sees Modest Hit From Chile Riots

    Investing.com -- Here's a summary of regulatory news from the London Stock Exchange on Wednesday, 23rd October. Please refresh for updates.

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