Rio Tinto Shipments Down; Expects Lower End Of Annual Target

Barsaba Taglieri
Luglio 18, 2017

UBS AG set a GBX 3,750 ($48.97) target price on shares of Rio Tinto plc and gave the stock a buy rating in a research report on Thursday, April 20th.

Rio Tinto PLC (NYSE:RIO) was the recipient of some unusual options trading on Friday.

Engineering and construction contractor CIMIC has reported a strong 22 per cent increase in first half profit, buoyed by a surge in new contracts and recent acquisitions. Macquarie restated an outperform rating and set a GBX 4,000 ($52.23) target price on shares of Rio Tinto plc in a research report on Thursday, July 6th. Finally, HSBC Holdings plc reaffirmed a "buy" rating and issued a GBX 4,000 ($51.81) target price on shares of Rio Tinto plc in a report on Wednesday, April 19th.

Rio Tinto plc (LON:RIO) had its price target lowered by research analysts at Barclays PLC from GBX 4,300 ($56.15) to GBX 4,100 ($53.54) in a research note issued on Friday. The firm's market capitalization is GBX 62.47 billion.

Across Rio Tinto's operations in the remote Pilbara region, shipments declined 6% year-over-year to 77.7 million tons in the three months through June and were down 3% for the first half of 2017.

WARNING: This piece of content was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another site, it was copied illegally and reposted in violation of USA and worldwide trademark and copyright law. The stock had a trading volume of 3,158,503 shares. The Anglo-Australian company's share of output from its mines slipped 2% on a year earlier to 65 million metric tons for the quarter and was down by a similar level for the half year. The stock presently has an average rating of "Buy" and an average price target of GBX 3,668.24 ($47.90). The correct version of this piece can be accessed at https://www.thestockobserver.com/2017/07/18/deutsche-bank-ag-boosts-rio-tinto-plc-rio-price-target-to-gbx-4200-updated-updated.html. Also, insider Christopher Lynch sold 7,582 shares of Rio Tinto plc stock in a transaction that occurred on Wednesday, May 31st. Also, insider Jean-Sébastien Jacques acquired 12 shares of the stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of GBX 3,108 ($40.26), for a total value of £235,648.56 ($305,244.25). The stock was bought at an average cost of GBX 3,043 ($39.74) per share, for a total transaction of £365.16 ($476.83).

Rio Tinto has slightly pared back expectations for full-year shipments of iron ore as ongoing rail track maintenance work slows down its ability to export the steel making ingredient. The Company's segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations.

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