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

Keir Starmer of the Labour Party is set to become the new UK Prime Minister, ending 14 years of Conservative control. The iShares MSCI United Kingdom ETF (EWU) and Franklin FTSE United Kingdom ETF (FLGB) saw minimal gains, while the iShares MSCI United Kingdom Small Cap ETF (EWUS) could benefit from Labour's policies. Analysts see potential growth in the homebuilding and mining sectors.

Portfolio Pulse from Chris Katje

July 05, 2024 | 4:53 pm

Shares of copper companies are trading higher due to an increase in copper prices, optimism for a stimulus in China, and potential rate cuts in the United States.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 2:04 pm

Rio Tinto has completed the construction of its solar power plant at the Diavik Diamond Mine, marking a significant step towards sustainable energy use in its operations.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 5:14 pm

Rio Tinto (NYSE:RIO) is negotiating with workers at its Oyu Tolgoi copper mine in Mongolia to prevent another strike, following a previous strike in May due to significant wage reductions. Changes to Mongolia’s Labor Law led to recalculations of employee allowances, resulting in wage decreases of up to 80%. If key demands are not met, another strike is possible. Rio Tinto claims the previous strike did not materially impact mine production. Investors can gain exposure to Rio Tinto via VanEck Steel ETF (NYSE:SLX) and NEOS ETF Trust Mast Global Battery Recycling & Production ETF (NYSE:EV).

Portfolio Pulse from Lekha Gupta

July 02, 2024 | 9:50 am

Alcoa and Rio Tinto have announced significant progress on their ELYSIS technology, which aims to eliminate all greenhouse gas emissions from the aluminum smelting process and produce oxygen as a byproduct. Rio Tinto plans to launch the first industrial-scale demonstration of this technology.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 2:08 pm

Berenberg analyst Richard Hatch has downgraded Rio Tinto (NYSE:RIO) from Buy to Hold.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 5:41 pm

Rio Tinto (NYSE:RIO) is set to receive approval from Serbia to develop Europe's largest lithium mine, the Jadar project, by 2028. This project aims to produce significant amounts of lithium carbonate, boric acid, and sodium sulfate, crucial for the EV industry and other industrial applications. Despite past environmental concerns and opposition, new guarantees from Rio Tinto and the EU have addressed these issues, leading to the project's revival.

Portfolio Pulse from Stjepan Kalinic

June 17, 2024 | 1:12 pm

Wall Street's most accurate analysts have spotlighted three high-dividend-yielding materials stocks: Dow Inc. (DOW), Compass Minerals International, Inc. (CMP), and BHP Group Limited (BHP). Analysts have provided various ratings and price targets for these stocks, and recent news includes supply agreements, executive appointments, and collaborations on new technology.

Portfolio Pulse from Avi Kapoor

June 17, 2024 | 1:06 pm

Rio Tinto (NYSE:RIO) is investing $143 million in a new research and development facility in Western Australia to advance low-emission steelmaking technology. The facility will focus on the BioIron™ process, which uses biomass instead of coal, potentially reducing CO2 emissions by 95%. The project will create jobs and support collaboration with local universities.

Portfolio Pulse from Stjepan Kalinic

June 04, 2024 | 11:07 am

Rio Tinto Group (NYSE:RIO) and BHP Group Limited (NYSE:BHP) have announced a partnership to test large battery-electric haul truck technology in Pilbara, Western Australia. The collaboration involves Caterpillar, Inc. (NYSE:CAT) and Komatsu Ltd. (OTC:KMTUY) providing trucks for trials aimed at achieving net zero operational greenhouse gas emissions by 2050.

Portfolio Pulse from Lekha Gupta

May 28, 2024 | 12:30 pm

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