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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Rio Tinto    RIO   GB0007188757

RIO TINTO (RIO)
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04:17pRio Tinto Shares Rise After Buyback; Likely to Boost PICK ETF
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11:57aRio Tinto announces new $3.2 billion share buyback, stock rises
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Rio Tinto plc : Featured Company News - Rio Tinto Announces Additional $2.5 Billion Share Buy-Back

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09/25/2017 | 01:32pm CEST

LONDON, UK / ACCESSWIRE / September 25, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Rio Tinto PLC (NYSE: RIO), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=RIO. The Company announced on September 21, 2017, that it is planning to return the proceeds of the sale of Coal & Allied Industries Ltd to its shareholders through an additional $2.5 billion buy-back, as part of its ongoing share buy-back program. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on RIO. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/?symbol=RIO

Off-Market Buy-Back Program

  • The returns will be accomplished through an off-market buy-back tender, targeting A$700 million (approximately $560 million) of Rio Tinto Ltd shares, which is expected to be completed in 2017.
  • The maximum number of shares that may be repurchased by the Company under the buy-back program is 42.4 million shares.
  • The eligible shareholders in Australia or New Zealand are invited to submit their Rio Tinto Ltd shares for sale at a premium to market price.
  • Eligible shareholders will also be in a position to select a minimum price below which shares tendered by them will not be bought.

On-Market Buy-Back Program

  • The remaining $1.9 billion of additional funds will be allocated to Rio Tinto's existing on-market purchases.
  • The on-market program is likely to commence on 27 December 2017 and to be completed no later than 31 December 2018.
  • The aggregate maximum consideration available for the on-market program will be announced following the completion of the off-market buy-back tender for the Rio Tinto Ltd shares, which is expected to be on 13 November 2017.
  • The maximum number of shares that may be purchased by Rio Tinto under this program is 100 million.

Shareholders Returns Made Possible by Maintaining Strong Balance Sheet

J.S. Jacques, Chief Executive Officer (CEO) of Rio Tinto, stated that returning the $2.5 billion proceeds from the Coal & Allied divestment shows the Company's continued commitment to delivering superior value and returning cash to its shareholders. Jacques also added that the Company had announced cash returns to shareholders of $8.2 billion, comprising $4.2 billion of dividends and $4 billion of share buy-backs for the current year. The CEO further stated that shareholder returns of this scale were made possible by maintaining the strongest balance sheet in the sector and a disciplined capital allocation process.

Buy-back Program Commenced in February 2017

Rio Tinto commenced a US$500 million share buy-back program of Rio Tinto shares on February 08, 2017, which is expected to be completed over the period 01 March 2017 to 31 December 2017. On August 02, 2017, the Company announced cash generation of $6.3 billion and total cash returns to shareholders of $3 billion. The buy-back program is subject to market conditions and compliance with all applicable laws and regulations.

Rio Tinto Divested Coal & Allied in September 2017

As per the news release, on September 01, 2017, Rio Tinto completed the sale of its wholly-owned subsidiary Coal & Allied Industries Ltd to Yancoal Australia Ltd, for a total consideration of $2.69 billion.

Coal & Allied Industries Ltd is engaged in mining, preparing, and marketing coal products in Australia.

About Rio Tinto Ltd

Founded in 1873, Rio Tinto is an Australian-British multinational and one of the world's largest metals and mining corporations. The Company's employees work in around 35 countries across six continents. Rio Tinto is a dual-listed Company trading on both the London Stock Exchange and the Australian Securities Exchange.

Last Close Stock Review

At the closing bell, on Friday, September 22, 2017, Rio Tinto's stock marginally slipped 0.06%, ending the trading session at $47.82. A total volume of 2.01 million shares have exchanged hands. The Company's stock price soared 22.08% in the last three months, 17.09% in the past six months, and 47.05% in the previous twelve months. Moreover, the stock surged 24.34% since the start of the year. The stock is trading at a PE ratio of 13.94 and has a dividend yield of 4.60%. The stock currently has a market cap of $86.82 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

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PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

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SOURCE: Pro-Trader Daily


© Accesswire 2017
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Financials ($)
Sales 2018 39 880 M
EBIT 2018 12 949 M
Net income 2018 8 242 M
Debt 2018 3 567 M
Yield 2018 5,86%
P/E ratio 2018 9,90
P/E ratio 2019 11,20
EV / Sales 2018 2,25x
EV / Sales 2019 2,36x
Capitalization 86 062 M
Chart RIO TINTO
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Rio Tinto Technical Analysis Chart | MarketScreener
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Technical analysis trends RIO TINTO
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 56,7 $
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Jean-Sébastien Jacques Chief Executive Officer & Executive Director
Simon Robert Thompson Chairman
Jakob Stausholm Chief Financial Officer & Executive Director
Ann Frances Godbehere Independent Non-Executive Director
Michael Gerard L'Estrange Independent Non-Executive Director
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