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Rio Tinto's first-half profit jumps 93 per cent to $4.1b

02 August 2017

Rio Tinto plc (LON RIO) traded up 0.46% during midday trading on Friday, hitting GBX 3520.00. The stock now has a consensus rating of Buy and a consensus target price of GBX 3,731.25 ($49.22).

Other equities analysts also recently issued reports about the company. HSBC Holdings plc now has a buy rating on the stock. International Value Advisers Llc sold 83,485 shares as American Express Company (AXP)'s stock declined 3.65%. Argus Research maintained Rio Tinto plc (ADR) (NYSE:RIO) rating on Thursday, December 1. Neuberger Berman Group LLC bought a new stake in Rio Tinto PLC during the first quarter valued at about $62,865,000. Bremer Trust National Association purchased a new position in shares of Rio Tinto PLC during the first quarter worth $428,000. The company's market cap is GBX 63.33 billion. Finally, ValuEngine raised shares of Rio Tinto PLC from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 11th. The firm's 50-day moving average is GBX 3,288.68 and its 200-day moving average is GBX 3,283.23.

06/30/2017 - Rio Tinto Plc was upgraded to " by analysts at Bank of America Merrill Lynch. Rio Tinto PLC has a consensus rating of "Buy" and an average target price of $40.17. After a recent check, company stock has been trading near the $47.09 mark.

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Rio Tinto Plc had its " rating reiterated by analysts at Cowen.

Overall, the effect of all price movements on the miner's commodities was to increase underlying earnings by $2.74 billion ($A3.4 billion) compared with the 2016 first half.

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A number of other hedge funds have also added to or reduced their stakes in RIO. The original version of this piece can be viewed at https://www.baseball-news-blog.com/2017/08/01/rio-tinto-plc-rio-stake-decreased-by-clearbridge-investments-llc-updated-updated-updated.html. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The $US3 billion return to shareholders is made up of the 2017 interim dividend of 110 US cents per share, a jump of 144% and equivalent to a total $US2 billion payout, plus a $US1 billion share buyback.

Rio Tinto plc (NYSE:RIO) is set to report quarterly earnings on 8/2/2017 8:30:00 AM.

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"We continue to have the strongest balance sheet in the sector", said Chief Executive Jean-Sebastien Jacques, who took the helm of the mining company about a year ago. The Company's segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The price of iron ore was volatile in the first half, having traded as high as $95 a tonne in February to a low of around $53 a tonne in June.

Rio Tinto's first-half profit jumps 93 per cent to $4.1b