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Rio Tinto Plc

219.00 (4.48%)
Share Name Share Symbol Market Type Share ISIN Share Description
Rio Tinto Plc LSE:RIO London Ordinary Share GB0007188757 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  219.00 4.48% 5,105.00 1,657,983 13:51:46
Bid Price Offer Price High Price Low Price Open Price
5,105.00 5,107.00 5,144.00 4,957.00 4,971.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Metal Mining 56,576.00 12,420.00 989.00 6.38 82,744.63
Last Trade Time Trade Type Trade Size Trade Price Currency
13:51:46 AT 41 5,105.00 GBX

Rio Tinto (RIO) Latest News

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RIO is a large holding in the following funds:
 Fund  Percentage of Fund  Last Updated 
 BMO UK HIGH INCOME TRUST PLC 5.50% 2022-05-31

Rio Tinto (RIO) Discussions and Chat

Rio Tinto Forums and Chat

Date Time Title Posts
24/2/202313:42Rio Tinto Investors thread410
11/3/202215:32RIO - TRADERS THREAD55,238
22/2/202215:55Rio Share price14
22/1/202223:01serbia scrap rio lithium mine plans...power to Novak..justice!1

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Rio Tinto (RIO) Most Recent Trades

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Rio Tinto (RIO) Top Chat Posts

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Posted at 24/5/2023 15:01 by waldron
Philip Whiterow

13:33 Wed 24 May 2023

Rio Tinto offers 'compelling' opportunity for the long term, suggests Jefferies

Rio Tinto, BHP and Vale share prices all reflect iron ore prices way below current spot levels, according to broker Jefferies, which concludes the three mining giants look good value as a result.

Markets currently are pricing in a benchmark iron ore price of US$81.37/t, it says, which compares to a spot price of US$99.05 and Jefferies' own long-term forecast of US$90/t.

“Chinese demand weakness is a near-term risk and valuation alone is not a catalyst for mining share prices to go higher.

“But our analysis indicates that shares of Rio, BHP, and Vale are trading at compelling levels now,” it said.

Using an enterprise value/underlying profit [EBITDA] ratio as a tool, the US bank estimates Rio is pricing in an iron price of US$81/t (on a 5.5x ratio), BHP is at US$86/t (6.5x) and Vale US$77 (at 5x).

Jefferies emphasises, however, that these are long-term forecasts, adding that it is “concernedR21; about seasonal and cyclical demand risk driving the iron ore price lower in the near future.

However, “If iron ore mining share prices are discounting a scenario more bearish than the outlook we envision, then our recommendation would be to buy these shares now before the iron ore price recovers.

“Yes, there will be near-term risks, but the opportunity for longer-term value investors could be now.”


Posted at 22/4/2023 00:12 by philanderer
Goldman Sachs says the Rio Tinto share price is ‘compelling value’ after Q1 update

Goldman highlights that there were positives and negatives from Rio Tinto’s quarterly update. It said:

RIO reported a broadly strong start to 2023 with record 1Q Pilbara iron ore shipments of 82.5Mt (+3% vs. GSe) due to the ongoing ramp-up of the Gudai-Darri and Robe Valley mines, positioning RIO to hit the top end of the of 320-335Mt guidance range (GSe 335Mt).

Copper production increased 10% QoQ to 145kt but fell short of our 157kt estimate due to lower than expected head grades at Escondida in Chile and equipment outages at Kennecott (Bingham) in the US. As a result, RIO has reduced copper production guidance by 60kt to 590-640kt (GSe revised to 636kt).

The broker also highlights that there are a few uncertainties in regard to growth projects, but was pleased with the Oyu Tolgoi ramp up. It adds:

On a positive note, the ramp-up of the Oyu Tolgoi block cave is tracking well with the UG rates increasing to ~3Mtpa (8ktpd) and ahead of our estimate. Other growth projects have seen some delays with the schedule and budget for the Rincon lithium project in Argentina under review and no further details on capex or timing for Simandou iron ore in Guinea.

Overall, thanks to its “compelling relative valuation” and strong free cash flow and dividend yield, the broker remains positive and keeps the miner on its conviction list.


Posted at 20/4/2023 07:34 by ariane
Rio Tinto PLC reported record first-quarter iron-ore shipments from its mammoth Australian mining operations, but downgraded its full-year copper-production estimate, citing a conveyor outage at its Kennecott mine near Salt Lake City, Utah.

The company also said it is reviewing the budget and schedule for a project at its Rincon lithium development in Argentina due to searing local inflation and rising equipment costs.

The world's second-biggest miner by market value on Thursday said it shipped 82.5 million metric tons of iron ore from its mines in Australia's Pilbara region in the three months through March, up 16% on the same period a year ago. Rio Tinto's iron-ore mining operations there are the biggest in the world, alongside a network of mines run by rival Vale SA in Brazil.

Output from its iron-ore pits was 11% higher than the year-prior level and exports were boosted by a drawdown of stockpiles, the company said.

Rio Tinto said it also produced 145,000 metric tons of mined copper in the quarter, in line with the same period of 2022. However, the miner cut its full-year copper-production estimate due to disruptions at Kennecott, as well as geotechnical challenges in the pit of the Escondida mine in northern Chile.

Rio Tinto now expects to report between 590,000 and 640,000 tons of mined-copper production in 2023, from 650,000 to 710,000 tons previously.

Output at the Kennecott mine was 36% lower year-on-year because of the problems with a conveyor belt that links the mine to a concentrator. The area also experienced record snowfall -- twice the historical Utah average, the company said.

The concentrator is expected to operate at reduced rates until the third quarter, with Rio Tinto planning to truck ore while it sources replacement motors for the conveyor. The miner kept copper unit-cost guidance unchanged.

At the Rincon lithium project in Argentina, development of a lithium-carbonate starter plant is ongoing, the company said. However, it is reviewing its $140 million estimate and schedule for the plant in response to surging inflation.

"Detailed studies for the full-scale operation are ongoing, and the exploration campaign progressed to further understand Rincon's basin and brine reservoir," the miner said.

Write to Rhiannon Hoyle at

(END) Dow Jones Newswires

April 19, 2023 19:43 ET (23:43 GMT)

Posted at 24/2/2023 11:16 by philanderer
Rio Tinto share price to end year 'well above where it is today'

Rio Tinto is still a buy for the scribes at Jefferies as they believe consensus forecasts for this year are too low.

Full-year results this week were on track, said the US bank, with underlying profits higher than forecasts, earnings lower and the dividend at the top end of guidance.

Going forward, a cyclical recovery in earnings should lead to further outperformance in Rio shares believes Jefferies.

“There are obviously many risks and there will be occasional painful pullbacks along the way, but on our base case macro assumptions we would expect Rio’s share price to end the year well above where it is today.”

The bank's share price target is 7,500p compared to 5,874p today.

Posted at 22/2/2023 06:59 by waldron
Rio Tinto PLC reported a 41% fall in net profit for 2022 and cut its payout to shareholders, reflecting a downswing in iron ore and copper prices.

The world's second-biggest miner by market value on Wednesday said it made a net profit of $12.42 billion last year, down from $21.09 billion in 2021.

Underlying earnings totaled $13.28 billion, compared to $21.38 billion the year earlier, as prices for iron ore--which accounts for most of Rio Tinto's profits--and copper fell. Analysts had expected underlying earnings of roughly $13.39 billion, according to 15 estimates compiled by Visible Alpha.

Directors of Rio Tinto declared a final dividend of $2.25 a share, taking the total payout for the year to $4.92 a share.

"Despite challenging market conditions, we remain resilient," said Jakob Stausholm, Rio Tinto's chief executive.

BHP Group Ltd., the world's largest miner, on Tuesday reported a 32% fall in its own first-half net profit, and pared its interim dividend from a record-high level, mostly because of weaker iron ore and copper prices.

Rio Tinto makes most of its money from the vast iron-ore mining operations it operates in remote northwest Australia. While shipments from those operations were flat in 2022 versus the year prior, the average price Rio Tinto was paid for its ore was 26% lower year-on-year.

Prices for the steel ingredient tumbled to a three-year low late last year amid concerns about the state of China's property market and the outlook for the global economy.

Rio Tinto said the price it got for its copper, an industrial metal used in construction and manufacturing, was also 5.0% below 2021 levels.

The mining giant, which also produces bauxite, aluminum and diamonds, has been grappling with cost inflation pressures throughout its businesses, too.

It said the cost of mining at its Australian iron-ore pits surpassed its expectations in 2022, in big part because of higher diesel prices and labor expenses. So-called unit cash costs for that business totaled $21.30 a metric ton, compared to the company's forecast of $19.50-$21.00 a ton.

Write Rhiannon Hoyle at

(END) Dow Jones Newswires

February 22, 2023 01:06 ET (06:06 GMT)

Posted at 17/1/2023 01:09 by philanderer
Rio Tinto hints at higher iron ore output

Rio Tinto has hinted its flagship iron ore division is ready to grow export volumes again, promising that stockpiles are high across its Western Australian network and a big new mine will soon run at full speed.

The signs that volume growth could be back on the agenda extended across Rio’s other divisions, with the company promising to grow volumes in 2023 at its alumina, aluminium, copper and Canadian iron ore businesses.

The cautiously optimistic tone came as Rio completed another underwhelming year of iron ore export volumes, with the miner shipping 321.63 million tonnes from WA.

The result means Rio’s 2022 export volumes were incrementally higher than 2021, but earnings from the division will decline because of a 26 per cent fall in received iron ore prices over the year.

Rio also confessed on Tuesday that unit costs in the Australian iron ore division had blown out above the $US21 a tonne maximum it had promised.

Macquarie had expected Rio to produce iron ore in WA at a unit cost of $US22.57 a tonne in 2022, with unit costs tipped to ease in 2023.

Rio said it would ship between 320 million and 335 million tonnes in 2023; effectively reiterating the full-year export target it issued this time last year.

But while the full-year target has not changed, Rio’s chances of delivering to the top end of the target range appear to be stronger given the $US3.1 billion ($4.5 billioin) Gudai-Darri iron ore mine is now complete.

Rio shares have rallied almost 40 per cent since October and Morgans analyst Adrian Prendergast said market enthusiasm toward miners over the demise of China’s “zero COVID” policy was near its zenith.

“We maintain a positive view on current management, and their focused efforts to turn Rio’s operating performance around across its global portfolio. But it takes significant time to turn a ship this big,” he said.

“Rio remains in good shape and is about to deliver start up of [the Oyu Tolgoi Underground mine], but with market conviction on China’s restart already so high it is hard to see the value upside on offer in Rio’s current share price. We maintain a hold rating.”


Posted at 16/12/2022 08:11 by spud
Rio Tinto PLC Rio Tinto completes acquisition of Turquoise HillSource: UK Regulatory (RNS & others)TIDMRIORNS Number : 9758JRio Tinto PLC16 December 2022Rio Tinto completes acquisition of Turquoise HillRio Tinto has completed its acquisition of Turquoise Hill Resources Ltd (TSX: TRQ) (NYSE: TRQ) ("Turquoise Hill") for a consideration of approximately $3.1 billion ([1]) , simplifying its ownership of the world-class Oyu Tolgoi mine in Mongolia, significantly strengthening Rio Tinto's copper portfolio, and demonstrating its long-term commitment to the project and Mongolia.Rio Tinto now holds a 66% direct interest in the Oyu Tolgoi project with the remaining 34% owned by the Government of Mongolia through Erdenes Oyu Tolgoi. The transaction closed following approval from the Yukon court in Canada and the majority of TRQ minority shareholders supporting the deal.Rio Tinto Chief Executive Jakob Stausholm said "Oyu Tolgoi is an outstanding asset with incredible people that will deliver significant long-term value for Rio Tinto and Mongolia.spud
Posted at 30/11/2022 12:22 by marktime1231
The stride in RIO share price over a month is really impressive, on current trading plus the hope / rumour / expectation that China will sort itself out. Just imagine what would happen if China actually does sort itself out. Is that what £67 and £70 price targets are based on?

I wonder if that solar + battery plant for Pilbara was priced in AUD or USD, makes quite a difference and if it was the latter it sounds rather expensive.

Posted at 18/10/2022 08:29 by florenceorbis
Rio Tinto PLC on Tuesday downgraded its refined-copper production guidance for 2022 and said it expects Australian iron-ore shipments to be at the low end of an earlier forecast range. Here are some remarks from its third-quarter operational report.

On its iron-ore shipments:

"We produced 84.3 million [metric tons] in the third quarter, 1% higher than the corresponding period of 2021, and 7% higher than the prior quarter with continued commissioning and ramp-up of Gudai-Darri and Robe Valley. We produced less SP10 this quarter compared to the prior quarter.

"Third quarter shipments of 82.9 million tons were 1% lower than the third quarter of 2021, and 4% higher than the prior quarter despite two unplanned rail outages on the Yandicoogina and Gudai-Darri lines. The investigation into the Gudai-Darri derailment is ongoing. There were some encouraging performance trends in the third quarter in relation to mine material movements, build-up of run of mine ore stocks and continued ramp up of new projects."

On the iron-ore market:

"Iron ore Platts CFR prices trended down from $120/dmt [dry ton] to $96/dmt during the third quarter as the loss of confidence in China's property market and Covid-related disruptions to construction activity curtailed China's steel production and consumption by circa 9% August year to date versus the same period of 2021. The major iron ore producers shipped the same aggregate volume during the first three quarters of 2022 as they did over the same period of 2021. With supply from other producers down 17% year to date--due to, among other factors, the war in Ukraine and export taxes in India--total seaborne supply contracted 4.5% during August year-to-date versus the same period of 2021."

On its aluminum production:

"Aluminum production of 0.8 million tons was 2% lower than the third quarter of 2021, and 4% higher than the prior quarter as the Kitimat smelter continues to ramp up and Boyne smelter cell recovery efforts progress as expected. The Kitimat pot restarts are progressing but structural issues with the alumina conveyor system caused disruptions through the quarter slowing the rate of pot restarts. We continue to focus on full recovery during the course of 2023."

On the aluminum market:

"The LME aluminium price extended further losses, dropping 20% over the quarter, averaging $2,354/ton. Additional smelter curtailments in Europe and China on high power prices and low hydropower generation, respectively, were insufficient to offset the weak macro environment. Aluminium demand has deteriorated, especially in Europe, which placed downward pressure on prices. Shipments in the U.S. and Canada have been resilient and there are signs of improvement in demand in China.

On copper production:

"Mined copper production [at Kennecott] was 19% higher than the third quarter of 2021, and 50% higher than the prior quarter with significant progress into higher grades following the transition to the south wall (averaging 0.54% in the first nine months), higher recoveries and strong mill performance driving higher ore milled.

"Refined copper production guidance has been reduced to 190,000 to 220,000 tons (previously 230,000 to 290,000 tons), given further downside risk associated with Kennecott's smelter and refinery performance, until we undertake the largest rebuild in nine years which is planned for the second quarter of 2023.

"Mined copper production [at Escondida] was 10% higher than the third quarter of 2021 mainly due to expected higher concentrator feed grade and higher recoverable copper in ore stacked for leaching mainly due to higher material stacked in both oxide and sulphide leach."

On the copper market:

"The copper LME price dropped 7% over the third quarter to $3.47/pound. A strong U.S. dollar, tightening monetary policy and challenging economic outlook weighed on market sentiment. Nevertheless, prices have been partly supported by supply concerns and low exchange inventories, which currently remain at multi-year lows."

Write to Rhiannon Hoyle at

(END) Dow Jones Newswires

October 17, 2022 19:19 ET (23:19 GMT)

Posted at 01/9/2022 08:39 by the grumpy old men
Rio Tinto to gain control of Mongolian copper mine as it snaps up remaining stake in Canadian rival for £2.9bn

Oyu Tolgoi project in Mongolia is one of the world's largest copper deposits
Rio Tinto's previous £2.3bn and £2.6bn bids had been rejected

By Camilla Canocchi for

Published: 08:18 BST, 1 September 2022 | Updated: 08:18 BST, 1 September 2022


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Rio Tinto has agreed to buy the rest of Canadian copper miner Turquoise Hill Resources it does not already own for $3.3billion (£2.9billion).

The deal will allow the dual-listed company to secure direct ownership of the Oyu Tolgoi project in Mongolia, one of the world's largest known copper deposits.

Rio operates the mine but does not have direct ownership of it. Rio currently holds a 51 per cent stake in Turquoise Hill, which itself owns 66 per cent of the mine, while the remainder is controlled by the Mongolian government.

Rio Tinto expects the deal to close towards the end of year, if shareholders approve it

Oyu Tolgoi is vital for Rio as it looks to mine more metals used in low-carbon technology and shift away from iron ore, a key steelmaking ingredient which generates most of its revenue.

Rio Tinto will pay C$43 per share in cash, which represents a more than 19 per cent premium to the stock's last close.

The offer is also higher than the sweetened £2.6billion it made last month and the £2.3billion bid it made in March, both of which were rejected.

Rio Tinto expects the deal to close towards the end of year if it gets the approval of 67 per cent of shareholders.

Rio Tinto chief executive, Jakob Stausholm, said: 'Rio Tinto is committed to moving Oyu Tolgoi forward in direct partnership with the Government of Mongolia to realise its full potential for all stakeholders.

'This agreement represents another significant step following the recent commencement of the underground operations, and will simplify governance, improve efficiency and create greater certainty of funding for the long-term success of the Oyu Tolgoi project.'

Rio Tinto shares fell 2.3 per cent at the open in London to 4,660p.

Rio Tinto share price data is direct from the London Stock Exchange
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