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RIO Rio Tinto Plc

-28.00 (-0.51%)
05 Dec 2023 - Closed
Delayed by 15 minutes
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
  -28.00 -0.51% 5,420.00 1,867,188 16:35:08
Bid Price Offer Price High Price Low Price Open Price
5,415.00 5,417.00 5,461.00 5,369.00 5,439.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec USD 56.58B USD 12.42B USD 7.6334 7.08 87.96B
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:10 AT 800 5,420.00 GBX

Rio Tinto (RIO) Latest News (2)

Smart Money!
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
12/10/202307:55RIO - TRADERS THREAD55,239
24/2/202313:42Rio Tinto Investors thread410
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

Trade Time Trade Price Trade Size Trade Value Trade Type

Rio Tinto (RIO) Top Chat Posts

Top Posts
Posted at 12/10/2023 07:55 by spud
Rio Tinto Venture Makes Further $10 Million Investment in McEwen CopperSource: Dow Jones NewsBy Robb M. Stewart Mining giant Rio Tinto and automaker Stellantis have boosted their investment in McEwen Mining's copper subsidiary in a move that values the business at roughly $800 million.Rio Tinto's Nuton venture agreed to an additional $10 million investment that will lift its stake in McEwen Copper to 14.5%. The two part transactions, which is set to close by Oct. 19, will involve a private placement of 152,615 McEwen Copper shares and the purchase of 232,000 shares owned by McEwen Mining in a secondary sale.McEwen Mining, which will own just under 48% of its subsidiary after the investment closes, will receive about $4 million and McEwen Copper the remaining $6 million, which will be used to develop the Los Azules copper project in Argentina.Earlier this year, Rio Tinto's Nuton invested a further $30 million in McEwen Copper in a move that raised its stake to about 14% and value the copper company at about $550 million.McEwen Copper on Wednesday said it also closed an additional investment by Stellantis, the parent of brands including Alfa Romeo, Chrysler, Fiat and Jeep. The automaker bought 1.9 million McEwen Copper shares in a private placement, increasing its ownership to just over 19% from roughly 14% it owned in February.spud
Posted at 19/8/2023 11:16 by misca2
7% dividend yields! 2 FTSE 100 shares I’m considering buying following the recent mini-crash

These FTSE 100 shares offer spectacular all-round value. Here’s why I’m aiming to snap them up for my portfolio when I next have cash to invest.

Royston Wild❯

Published 19 August, 7:31 am BST

As a value investor I’m always looking for opportunities to buy beaten-down bargains. So a sudden fall in the value of many FTSE 100 shares in recent days has grabbed my attention.

Mounting concerns over China’s economy have driven the FTSE’s fresh decline. But I’m confident that the index will eventually recover, and that individuals who invested at current levels could make a packet. It’s a strategy that billionaire investor Warren Buffett has used to build his incredible wealth.

The past isn’t always a reliable guide to what comes next. However, history shows us that economic crises come and go, and that stock markets always bounce back strongly following periods of weakness.

With this in mind, here are two FTSE 100 stocks I’m thinking of buying today. I believe they could soar in value over the next decade.

1. Rio Tinto

Property firm Evergrande’s claim for US bankruptcy protection shook the share prices of mining stocks again last week. The application has reignited fears over China’s property sector and darkened the outlook for future commodities demand.

Rio Tinto (LSE:RIO) is one of many metals producers whose share prices have toppled in the gloom. The company’s reliance on iron ore — a key steelmaking ingredient — to drive profits leaves it especially vulnerable to a construction industry collapse.

But at current prices I still find the FTSE share very attractive. Not only does it trade on a forward price-to-earnings (P/E) ratio of 8.6 times, it also carries a mighty 7% dividend yield at a current price of £45.65.

At these levels, I think the threat of a sharp slowdown in Chinese commodities demand is baked in. In fact, continued monetary support from Beijing suggests that a painful downturn could be averted altogether.

I think Rio Tinto shares are attractive for long-term investors like me. As the green economy takes off, demand for industrial metals could rise strongly over the next decade. Rapid emerging market urbanisation and rising digitalisation could also push commodities consumption skywards, pulling Rio’s share price with it.
Posted at 22/7/2023 09:08 by spud
Rio Tinto PLC Rio Tinto & Giampaolo Group aluminium recycling JVSource: UK Regulatory (RNS & others)TIDMRIORNS Number : 8600GRio Tinto PLC21 July 2023Notice to ASX/LSERio Tinto and Giampaolo Group enter into Matalco aluminium recycling joint venture21 July 2023Rio Tinto and Giampaolo Group, one of North America's largest fully-integrated metal management businesses, have entered into an agreement to form a joint venture to manufacture and market recycled aluminium products. The transaction reflects the joint venture partners' shared commitment to meeting the increasing demand for low-carbon aluminium as a key material in the energy transition.Under the terms of the agreement, Rio Tinto will acquire a 50% equity stake in Giampaolo Group's wholly-owned Matalco business for $700 million [1] subject to usual closing adjustments.spud
Posted at 24/5/2023 14:01 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 21/4/2023 23:12 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 06:34 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
Rio Tinto share price data is direct from the London Stock Exchange

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