Streetbeat News

RIO

Rio Tinto Group

https://www.riotinto.com

Industry

Industrial Materials

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities. Rio Tinto Group was founded in 1873 and is headquartered in London, the United Kingdom.

Open

60.99

Mkt cap

104B

Volume

High

61.30

P/E Ratio

9.27

52-wk high

75.09

Low

60.73

Div yield

0.07

52-wk low

59.35

BHP (NYSE:BHP) faces a potential prolonged strike at the Escondida copper mine in Chile, which could significantly impact global copper supply. The union representing 2,400 workers rejected BHP's bonus offer, demanding a share of dividends instead. The situation recalls a similar strike in 2017 that reduced global copper supply by 7.5%. Other stakeholders include Rio Tinto (NYSE:RIO) and Japanese Jeco Corp.

Portfolio Pulse from Stjepan Kalinic

August 14, 2024 | 2:03 pm

The Bank of England (BoE) reduced its key interest rate by 25 basis points to 5%, marking the first cut in over four years. The decision was divided among the Monetary Policy Committee members. The BoE expects inflation to rise to 2.75% later this year but fall below target in the next two years. The British pound fell 0.5% against the dollar, while UK equities remained flat. US-listed British companies showed mixed premarket performances.

Portfolio Pulse from Piero Cingari

August 01, 2024 | 12:35 pm

Uranium prices have surged to 16-year highs due to supply uncertainties and rising demand, particularly for AI data centers. Cameco (NYSE:CCJ) is locking in higher contract prices, while Energy Resources of Australia (OTCPK:EGRAF) and Rio Tinto (NYSE:RIO) face challenges due to Australia's mining ban at the Jabiluka site.

Portfolio Pulse from Stjepan Kalinic

July 30, 2024 | 4:13 pm

Teck Resources is attracting M&A interest from major mining companies, including Anglo American, Vale, and Rio Tinto, as part of a copper rush. These firms are studying potential deals with Teck.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 5:13 pm

HSBC analyst Shilan Modi has upgraded Rio Tinto (NYSE:RIO) from Hold to Buy.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 10:23 am

Mercedes-Benz Group AG and Stellantis NV are in discussions with the Serbian government to invest in lithium-processing and EV battery production. This initiative aims to develop a comprehensive lithium industry in Serbia, reducing Europe's reliance on Asian imports. Despite a slowdown in EV adoption, this project could boost Serbia's economic growth and technological advancements.

Portfolio Pulse from Shivani Kumaresan

July 18, 2024 | 1:27 pm

Rio Tinto (NYSE:RIO) shares are down 2.4% after the company reported a 2% Y/Y decrease in second-quarter production due to a train collision. However, bauxite production increased by 9%, and the company reiterated its full-year production outlook. Rio Tinto is also focusing on decarbonization initiatives.

Portfolio Pulse from Lekha Gupta

July 16, 2024 | 3:34 pm

American Pacific Mining Corp's CEO and Managing Director discuss their partnership with Rio Tinto, the state of the commodity markets, and the company's future. They highlight their focus on high-grade assets in the western U.S., significant drilling programs in Alaska and Montana, and the importance of environmental regulations. The company is well-positioned with strong partnerships and substantial exploration budgets, aiming to capitalize on rising demand for critical metals like copper.

Portfolio Pulse from Stjepan Kalinic

July 16, 2024 | 3:13 pm

Rio Tinto (NYSE:RIO) reported strong first-half results with significant gains in iron ore, bauxite, copper, and lithium production. The company is progressing on key projects and is rumored to be evaluating a potential bid for Teck Resources (NYSE:TECK).

Portfolio Pulse from Stjepan Kalinic

July 16, 2024 | 2:09 pm

Rio Tinto (NYSE:RIO) and Ngarluma Aboriginal Corporation are collaborating on an 80MW solar farm in Australia, aiming to reduce Rio Tinto's CO2 emissions by up to 120kT annually. The project is part of Rio Tinto's broader goal to deploy 600MW to 700MW of renewable energy by 2030. The feasibility study is expected by early 2025, with commissioning planned for 2027.

Portfolio Pulse from Lekha Gupta

July 15, 2024 | 11:39 am

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