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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Rio Tinto Limited    RIO   AU000000RIO1

RIO TINTO LIMITED

(RIO)
  Report  
End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 04/18
97.74 AUD   +1.39%
04/16BHP Trims Annual Iron Ore Target After Cyclone -- Update
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04/15RIO TINTO : cuts FY iron ore guidance after cyclone hits first-quarter shipments
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04/15Rio Tinto Scales Back Pilbara Iron Ore Guidance
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Rio Tinto : cuts FY iron ore guidance after cyclone hits first-quarter shipments

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04/15/2019 | 07:12pm EDT
FILE PHOTO: The Rio Tinto mining company's logo is photographed at their annual general meeting in Sydney

(Reuters) - Anglo-Australian miner Rio Tinto Ltd on Tuesday reported a 14 percent drop in quarterly iron ore shipments and cut its 2019 shipments estimate on disruption caused by a tropical cyclone that hit its export terminal in Western Australia last month.

Rio, the world's No. 2 miner of the steelmaking material, cut its annual iron ore shipments estimate to a range of 333 million to 343 million from a range of 338 million to 350 million tonnes announced earlier.

Rio shipped 69.1 million tonnes in the quarter ended March 31, down from 80.3 million tonnes last year and well below the Goldman Sachs estimate of 74.7 million tonnes.

Cyclone Veronica disrupted ports used by miners Rio and BHP Group in late March. Rio earlier flagged a loss of about 14 million tonnes of production in 2019 due to disruption caused by the tropical cyclone and a fire at a port facility in January.

"Our iron ore business faced several challenges at the start of this year, particularly from tropical cyclones. As a result, and following the continuing assessment of damage at the port resulting from the cyclones and other minor disruptions, 2019 guidance for Pilbara shipments is reduced..." Chief Executive Jean-Sébastien Jacques said, referring to the Pilbara region of Western Australia.

The hit to production, coupled with the ramifications of the Vale dam disaster in Brazil, have propelled iron ore prices to multi-year highs this year, boosting shares of miners.

(For an interactive graphic on Rio Tint
o's quarterly Pilbara iron ore shipments since second-quarter of 2016, seehttps://tmsnrt.rs/2X1i6DV

(Reporting by Aditya Soni and Aby Jose Koilparambil in Bengaluru; Editing by Richard Chang and Cynthia Osterman)

Stocks mentioned in the article
ChangeLast1st jan.
RIO TINTO 1.17% 4600 Delayed Quote.23.32%
RIO TINTO LIMITED 1.39% 97.74 End-of-day quote.24.56%
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Financials ($)
Sales 2019 40 861 M
EBIT 2019 14 734 M
Net income 2019 9 238 M
Debt 2019 4 891 M
Yield 2019 5,95%
P/E ratio 2019 12,02
P/E ratio 2020 13,62
EV / Sales 2019 2,60x
EV / Sales 2020 2,68x
Capitalization 101 B
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Technical analysis trends RIO TINTO LIMITED
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 67,1 $
Spread / Average Target -4,0%
EPS Revisions
Managers
NameTitle
Jean-Sébastien Jacques Chief Executive Officer & Executive Director
Simon Robert Thompson Chairman
Jakob Stausholm Chief Financial Officer & Director
Ann Frances Godbehere Independent Non-Executive Director
Michael Gerard L'Estrange Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
RIO TINTO LIMITED24.56%101 479
BHP GROUP LTD11.69%131 835
BHP GROUP PLC13.19%131 835
RIO TINTO23.32%101 479
ANGLO AMERICAN24.13%39 616
GRUPO MEXICO S.A. DE C.V.45.28%24 293