Uh oh.... Zacks upgrades RIO to strong buy. Kiss of death. Time to look at selling, right after it goes ex-dividend. Go against Zacks and 90% of the time you will be making the right decision.
J
Strong half-year results. $7.52 earnings, $33.1B revenue. Dividend $5.61. Obviously, the stock is undervalued. Forward PE is around 6 now.
J
Deutsche Bank analyst in London expects Rio to announce 603c dividend: 407c ordinary and 196c special. Hard to believe these huge numbers. In any case, the real number will be known very soon.
S
when will be the ex dividend date?
A
Earnings are but a tip of the iceberg for RIO. The potential use of copper in the medical fields date back thousands of years---check it out. The new age use of copper and copper oxide will be coming just like the CRISPR tech.
J
Conference call transcript is available. Management looked confident and CEO did good job, imho, jousting with analysts.
J
Rio Tinto First-Half Profit Sets Record on Commodity Price Surge -- Update BY Dow Jones & Company, Inc. — 7:03 AM ET 07/28/2021 SYDNEY -- Rio Tinto PLC (RIO) reported a record first-half net profit and more than tripled its midyear payout to shareholders, benefiting from a bull run in commodity prices that has stoked inflation expectations around the world.
On Wednesday, the world's second-largest mining company by market value said net profit for the six months through June rose to more than $12.3 billion from over $3.3 billion a year earlier.
First-half underlying earnings, which exclude some one-time items, more than doubled to nearly $12.2 billion, beating the more than $12 billion consensus estimate compiled by Vuma from 14 analyst forecasts.
"We saw significant and prolonged price spikes during the first half," Chief Executive Jakob Stausholm said. That was underpinned by government stimulus programs in response to the Covid-19 pandemic, he said.
The profit boom meant big returns for shareholders. Directors declared an ordinary dividend of $3.76 a share, up from $1.55 a share a year earlier. They also unveiled a special dividend of $1.85 a share.
S
561 cents per share!!!
P
9.1 billion to issue out in a special dividend????? Hats off to Capitalism, and to the RIO board of directors.
b
Hey all...if I buy this today, will I get the dividend?
J
Rio Tinto commits funding for Jadar lithium project BY Business Wire — 12:03 PM ET 07/27/2021 LONDON--(BUSINESS WIRE)-- Rio Tinto has committed $2.4 billion to the Jadar lithium-borates project in Serbia, one of the world’s largest greenfield lithium projects. The project remains subject to receiving all relevant approvals, permits and licences and ongoing engagement with local communities, the Government of Serbia and civil society.
The Jadar project would scale up Rio Tinto’s exposure to battery materials, and demonstrate the company’s commitment to investing capital in a disciplined manner to further strengthen its portfolio for the global energy transition.
A
When you earn lots of money pay it out in big dividends, got forbid other companies would try this.
J
Marketwatch just posted Rio earnings preview. Consensus number for the earnings: $12.01B. Ordinary dividend: $4.93, though prediction range is very wide: from $3.57 to $9.16.
J
Production report brings in low numbers. However, commodity pricing was much stronger in q2, even by comparison with q1. It is disappointing a bit that iron ore production/shipments dropped by about 10%. However, iron ore price went up more than 20%. In total, the company makes super-sized profits at the moment.
J
According to today Reuters article, Rio proceeds with Jadar lithium project development. Start of quote MELBOURNE, Aug 2 - Rio Tinto Ltd (RIO.AX) is set to ship a pilot lithium processing plant to Serbia from Melbourne in the coming weeks, the culmination of a decade's research to catapult the world's largest iron ore miner into battery minerals. The work, undertaken at a science hub on the outskirts of Melbourne, has found a way to economically extract lithium from jadarite, a mineral that has only been found in a Serbian valley. Rio last week hit the go button on the $2.4 billion project that will diversify the producer of iron ore, copper, aluminium and speciality minerals into a top ten lithium producer, just as demand from electric vehicle makers booms. End of quote
J
The company already set schedule for next dividend. Record date: August 12, payment date: September 23. The dividend amount will be likely declared together with upcoming H1 earnings release: July 28.
J
Upgraded to Buy at Goldman Sachs Australian office, price target raised from A$128 to A$144.40. New target price indicates about 10% increase comparing to present share price in Australia A$130.60, the latter number did not account for Friday selloff.
J
John Najarian on CNBC just reported heavy call buying at $99 and very bullish.
J
Maintained as Overweight at JPMorgan in London. Price target reduced from GBP83.10 to GBP82.50. The stock closed in London today at 57.55.
J
Will labor strike at Kitimat have a material effect upon stock price,
Kiss of death.
Time to look at selling, right after it goes ex-dividend.
Go against Zacks and 90% of the time you will be making the right decision.
Obviously, the stock is undervalued. Forward PE is around 6 now.
Hard to believe these huge numbers. In any case, the real number will be known very soon.
fields date back thousands of years---check it out. The new age use of copper and copper oxide
will be coming just like the CRISPR tech.
BY Dow Jones & Company, Inc.
— 7:03 AM ET 07/28/2021
SYDNEY -- Rio Tinto PLC (RIO) reported a record first-half net profit and more than tripled its midyear payout to shareholders, benefiting from a bull run in commodity prices that has stoked inflation expectations around the world.
On Wednesday, the world's second-largest mining company by market value said net profit for the six months through June rose to more than $12.3 billion from over $3.3 billion a year earlier.
First-half underlying earnings, which exclude some one-time items, more than doubled to nearly $12.2 billion, beating the more than $12 billion consensus estimate compiled by Vuma from 14 analyst forecasts.
"We saw significant and prolonged price spikes during the first half," Chief Executive Jakob Stausholm said. That was underpinned by government stimulus programs in response to the Covid-19 pandemic, he said.
The profit boom meant big returns for shareholders. Directors declared an ordinary dividend of $3.76 a share, up from $1.55 a share a year earlier. They also unveiled a special dividend of $1.85 a share.
BY Business Wire
— 12:03 PM ET 07/27/2021
LONDON--(BUSINESS WIRE)-- Rio Tinto has committed $2.4 billion to the Jadar lithium-borates project in Serbia, one of the world’s largest greenfield lithium projects. The project remains subject to receiving all relevant approvals, permits and licences and ongoing engagement with local communities, the Government of Serbia and civil society.
The Jadar project would scale up Rio Tinto’s exposure to battery materials, and demonstrate the company’s commitment to investing capital in a disciplined manner to further strengthen its portfolio for the global energy transition.
Start of quote
MELBOURNE, Aug 2 - Rio Tinto Ltd (RIO.AX) is set to ship a pilot lithium processing plant to Serbia from Melbourne in the coming weeks, the culmination of a decade's research to catapult the world's largest iron ore miner into battery minerals.
The work, undertaken at a science hub on the outskirts of Melbourne, has found a way to economically extract lithium from jadarite, a mineral that has only been found in a Serbian valley.
Rio last week hit the go button on the $2.4 billion project that will diversify the producer of iron ore, copper, aluminium and speciality minerals into a top ten lithium producer, just as demand from electric vehicle makers booms.
End of quote