Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Rio Tinto plc
  6. News
  7. Summary
    RIO   GB0007188757

RIO TINTO PLC

(RIO)
  Report
Delayed Quote. Delayed London Stock Exchange - 09/21 11:37:49 am
4715.5 GBX   -0.49%
10:02aFTSE 100 Roars Back on Tuesday, Driven by M&A Prospects
DJ
07:02aMiners' FTSE 100 Top Spot Isn't Expected to Last
DJ
09/20Australia shares fall on weak financials, tech; China Evergrande spooks markets
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Rio Tinto : Miner Turquoise Hill's profit beats on strong output, metal prices

07/29/2021 | 05:14pm EDT

July 29 (Reuters) - Canadian miner Turquoise Hill Resources Ltd on Thursday beat estimates for second-quarter profit, bolstered by a strong output from the Oyu Tolgoi mine in Mongolia and higher prices of copper and gold.

Prices of the red metal hit a record high in May, boosted by demand from electric-vehicle makers and other clean-energy investments. Bullion prices also rose in the second quarter as a weak dollar and pandemic-related uncertainties lifted its safe-haven appeal.

Turquoise Hill's copper production from Oyu Tolgoi stood at 36,735 tonnes in the quarter, compared with 36,495 ounces last year. Its gold output more than tripled to 113,054 ounces.

Oyu Tolgoi, one of the world's largest copper-gold-silver mines, was at the center of a long-running funding spat between Rio Tinto and Turquoise, before the dispute was put to bed in April.

The Mongolian government holds a 34% stake in the Oyu Tolgoi project with Rio's majority-owned Turquoise owning the rest.

Turquoise Hill's all-in sustaining costs fell 32% to $1.48 per pound of copper produced in the quarter.

Its income attributable to the owners of the company was $96.9 million, or 48 cents per share, for the three months ended June 30, compared with $72.6 million, or 36 cents per share, a year earlier.

Analysts on average were expecting a profit of 34 cents per share, according to Refinitiv IBES.

(Reporting by Rithika Krishna in Bengaluru; Editing by Devika Syamnath)


ę Reuters 2021
All news about RIO TINTO PLC
10:02aFTSE 100 Roars Back on Tuesday, Driven by M&A Prospects
DJ
07:02aMiners' FTSE 100 Top Spot Isn't Expected to Last
DJ
09/20Australia shares fall on weak financials, tech; China Evergrande spooks markets
RE
09/20PEGASUS RESOURCES : in Negotiations to Acquire Uranium Assets -- Shares Down Nearly 19%
MT
09/20FTSE Drops, AstraZeneca Rises on Upbeat Breast Cancer Data
DJ
09/20EUROPEAN MIDDAY BRIEFING : Stocks Slump on China Fears
DJ
09/20RIO TINTO : Approves Construction of New Solar Farm, Battery Storage Facility in Queenslan..
MT
09/20Australia shares post worst session in 7 months on weaker commodity prices
RE
09/19RIO TINTO : to triple Weipa solar capacity and add battery storage to help power operation..
BU
09/17LONDON STOCK EXCHANGE : Miners weigh London's FTSE 100 down; travel stocks jump
RE
More news
Analyst Recommendations on RIO TINTO PLC
More recommendations
Financials (USD)
Sales 2021 65 990 M - -
Net income 2021 23 900 M - -
Net cash 2021 3 881 M - -
P/E ratio 2021 4,37x
Yield 2021 17,9%
Capitalization 106 B 106 B -
EV / Sales 2021 1,55x
EV / Sales 2022 1,90x
Nbr of Employees 47 500
Free-Float 65,3%
Chart RIO TINTO PLC
Duration : Period :
Rio Tinto plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends RIO TINTO PLC
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 64,28 $
Average target price 85,69 $
Spread / Average Target 33,3%
EPS Revisions
Managers and Directors
Jakob Stausholm Chief Executive Officer & Executive Director
Peter Lloyd Cunningham Chief Financial Officer & Executive Director
Simon Robert Thompson Chairman
Arnaud Soirat Chief Operating Officer
Megan Clark Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
RIO TINTO PLC-13.95%106 031
BHP GROUP-11.03%133 609
ANGLO AMERICAN PLC1.90%41 663
GRUPO MÉXICO, S.A.B. DE C.V.-2.31%31 745
SAUDI ARABIAN MINING COMPANY (MA'ADEN)95.06%26 121
TECK RESOURCES LIMITED36.02%12 792