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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 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