Rio Tinto Commits Further USD2.50 Billion To Share Buybacks

Share

The company's stock had a trading volume of 1,441,224 shares.

In addition to Macquarie reporting its stock price target, a total of 26 brokers have issued a research note on the company. Knowledge Leaders Capital LLC grew its holdings in shares of Rio Tinto PLC by 126.0% in the second quarter. MML Investors Services LLC purchased a new stake in Rio Tinto PLC during the second quarter valued at approximately $203,000.

The sale marked Rio Tinto's near exit from thermal coal assets, which it does not consider a core business. Northern Trust Corp now owns 1,166,895 shares of the mining company's stock valued at $49,372,000 after purchasing an additional 9,809 shares during the period. Finally, Ngam Advisors L.P. grew its holdings in shares of Rio Tinto PLC by 43.6% in the first quarter. Huntington National Bank now owns 4,039 shares of the mining company's stock worth $171,000 after purchasing an additional 332 shares during the last quarter. Institutional investors own 6.63% of the company's stock.

In a report released on Friday September 22, 2017 Macquarie increased the stock price target of Rio Tinto PLC (LON:RIO) to 4,300.00GBX reporting a possible upside of 0.24%. J P Morgan Chase & Co raised their price objective on Rio Tinto from GBX 4,000 ($53.93) to GBX 4,100 ($55.28) and issued the company an "overweight" recommendation in a analysis report on Tue, Sep 5th. BNP Paribas fixed a GBX 4,000 ($53.93) price objective on Rio Tinto and issued the company a "buy" recommendation in a analysis report on Wed, Sep 6th. Cowen and Company set a $47.00 target price on shares of Rio Tinto PLC and gave the stock a "hold" rating in a report on Wednesday, August 2nd. Jefferies maintained Rio Tinto plc (LON:RIO) on Monday, February 15 with "Buy" rating. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. Finally, Royal Bank Of Canada set a GBX 4,400 ($59.32) price objective on Rio Tinto plc and gave the company a "buy" rating in a research note on Saturday, May 20th.

Kardashian's Dash Store Woman with Gun, knife Arrested
She left the machete lodged in the store's door frame and walked away, again headed toward La Cienega Boulevard, Moore said. The LAPD also executed a search warrant and found two airsoft guns that were similar to ones she used during the incident.

Rio Tinto's Australian-listed shares have risen more than third in value over the past 12 months. The shares were purchased at an average price of GBX 3,501 ($47.20) per share, for a total transaction of £385.11 ($519.23). The company has a market cap of $85.79 billion, a PE ratio of 13.95 and a beta of 0.98. This year we have announced cash returns to shareholders of USD8.2 billion, comprising USD4.2 billion of dividends and USD4 billion of share buy-backs.

Rio paid its highest interim dividend in August after first-half profit more than doubled.

ILLEGAL ACTIVITY NOTICE: This piece was originally posted by Equities Focus and is owned by of Equities Focus. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of United States & global copyright laws. The legal version of this piece can be read at https://www.equitiesfocus.com/2017/09/18/129900-shares-in-rio-tinto-plc-rio-acquired-by-lsv-asset-management.html.

Mining giant Rio Tinto will return proceeds from the recent $US2.7 billion sale of its NSW coal operations to shareholders through a share buyback. The Company's segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations.

Share