Macquarie expresses preference for Rio Tinto over BHP after Q2 production update
20th Jul 2016 11:04
(ShareCast News) - Analysts at Macquarie reiterated their 'outperform' stance on shares of Rio Tinto following the mining group´s second quarter calendar year production update. They also reiterated their preference for the miner´s shares over those of rival BHP Billiton. Overall, the update was mi
Read moreWednesday broker round-up
20th Jul 2016 09:29
(ShareCast News) - Centrica: Berenberg reiterates buy with a target price of 230p. Rio Tinto: Deutsche Bank maintains buy with a 3160p target. IG Group: RBC reiterates sector perform with a 865p target. SSP: JP Morgan stays at overweight with a 358p target. Vodafone: Deutsche Bank reiterates buy
Read moreSector movers: Real estate, Oil&Gas pace gains, mining down
19th Jul 2016 10:54
(ShareCast News) - Real estate investment trusts led to the upside despite the International Monetary Fund and European Commission's decision on Tuesday to take a knife - as might have been expected - to their forecasts for the British economy next year. In the case of the Washington-based
Read moreRio Tinto ramps up iron ore production
19th Jul 2016 07:13
(ShareCast News) - Mining giant Rio Tinto said second quarter iron ore production from its mines in Western Australia's Pilbara rose 8% to nearly 81m from the same time a year ago. Pilbara iron ore shipments rose 6% to 82.2m tonnes. Over the six month period, shipments of iron ore increased 8% to n
Read moreThursday broker round-up
14th Jul 2016 11:01
(ShareCast News) - Poundland: HSBC reiterates hold with a target price of 222p. Burberry: UBS keeps at buy with a 1650p target. Acacia: Jefferies reiterates buy with a 640p target. Genel: UBS stays at neutral with a 130p target. Asos: Goldman Sachs downgrades to neutral with a target price of 510
Read moreRio Tinto sells coal mine for A$1 as industry struggles
4th Jul 2016 15:08
(ShareCast News) - Mining giant Rio Tinto sold its interest in a coal mine in Australia for A$1 as the commodity market continues to struggle. The mine was sold for less than the price of a cup of coffee, the Financial Times reported on Monday. Rio Tinto's new chief executive said he wants to grow
Read moreSunday newspaper round-up: Brexit, BoE, LSE, housebuilders, Rio Tinto, Go-Ahead
3rd Jul 2016 16:58
(ShareCast News) - A group of businesses is preparing a legal challenge to prevent the government from beginning Brexit negotiations without an act of parliament. The action, brought by law firm Mishcon de Reya, would potentially complicate Britain's path to leaving the EU, given that a majority of
Read moreFriday newspaper share tips: Rio Tinto, Hays, PageGroup
1st Jul 2016 11:18
(ShareCast News) - Investors in Rio Tinto need not worry about yesterday´s unexpected change of control in Mongolia´s parliament, the Financial Times´s Lex column said. The opposition Mongolian People´s Party won control of the chamber by a landslide vote, prompting some to worry given that one of t
Read moreRio Tinto ends mining involvement in PNG
30th Jun 2016 07:05
(ShareCast News) - Rio Tinto said it was ending its involvement with Papua New Guinea by giving up ownership of the Panguna copper mine on Bougainville island. The miner said it would transfer its majority 53.8% shareholding in Bougainville Copper to an independent trustee to manage the distribution
Read moreWednesday newspaper share tips: Rio Tinto, Whitbread
22nd Jun 2016 13:44
(ShareCast News) - Shares in Rio Tinto should be avoided, they are already expensive and China's economy seems about to "roll-over", The Daily Telegraph's Questor column said. The Anglo-Australian mining concern announced on 21 June that Jean-Sebastien Jacques will replace current chief executive
Read moreMacquarie somewhat surprised by organisational reshuffle at Rio Tinto
22nd Jun 2016 12:10
(ShareCast News) - The decision of Andrew Harding, Rio Tinto's ex-Iron Ore chief to depart the company was not unexpected, but the organisational reshuffle of the company's organisational structure was "somewhat of a surprise", analysts at Macquarie said. Harding had been seen as a "strong" candidat
Read moreRio Tinto seals $3bn debt reduction
21st Jun 2016 09:47
(ShareCast News) - Rio Tinto has arranged a further $3bn reduction in its gross debts after agreeing further purchases of its bonds in New York. The mining group's has agreed to buy back $1.252 billion of debt under a 'maximum tender offer', which began on 7 June. This comes on top of the $1.748bn
Read moreRio Tinto reshuffles organisational structure with iron chief axed
21st Jun 2016 08:04
(ShareCast News) - Rio Tinto's iron ore chief will leave the company under new group chief executive Jean-Sébastien Jacques's restructured organisational structure. This structure will include four product groups: aluminium; copper and diamonds; energy and minerals; and iron ore. These asset-focuse
Read moreRio Tinto buys back $1.74bn in debt
14th Jun 2016 09:20
(ShareCast News) - Mining giant Rio Tinto said it was buying back $1.74bn in debt securities as part of its plan to reduce gross debt and shore up its balance sheet against a backdrop of low iron ore prices. The company said it had accepted $943m in 6.5% notes due 2018 which will be purchased at a p
Read moreSunday newspaper round-up: Brexit warnings, Rio Tinto copper, Sports Direct
12th Jun 2016 17:19
(ShareCast News) - The Bank of England will face huge pressure to cut interest rates to new lows if Britain opts to quit the EU, according to international investors cited by the Sunday Times. With online and phone polls indicating the result is too close to call, fears that a Brexit vote could dera
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