Published: Thu, April 20, 2017
Economy | By Annette Adams

Rio Tinto 1st qtr iron ore output slips 3 pct

Rio Tinto 1st qtr iron ore output slips 3 pct

As a result, Rio cuts full-year guidance for mined copper production to 500K-550K tons from an earlier forecast of 525K-665K, although it still expects refined copper production of 185K-225K tons. They presently have a GBX 3,500 ($44.05) target price on the stock. Royal Bank of Canada's price target points to a potential upside of 45.19% from the stock's current price.

"In the absence of an export permit, Freeport has had to reduce production to around 40 per cent to match domestic smelting capacity", Rio said.

Now the shares of Rio Tinto plc (RIO) has a trading volume of 4.29 Million shares, with an average trading volume of 3590 shares - with shares dropping to a 52 week low of $25.86, and the company's shares hitting a 52 week high of $ 45.83.

The number of shares Rio Tinto PLC now has in issue is 1,799,110,000, which have a value of 3003 per share calculating Rio Tinto PLC's market capitalisation to 54.03B GBP. The firm now has a neutral rating on the stock.

Barclays PLC reissued their overweight rating on shares of Glencore PLC (LON:GLEN) in a research note issued to investors on Monday morning. The firm's 50 day moving average is GBX 3,261.21 and its 200-day moving average is GBX 3,163.03.

RIO has a 1-year high price of $ 45.83 and 1-year low price of $25.86. The firm's market cap is GBX 54.62 billion.

The company also recently declared a dividend, which will be paid on Thursday, April 6th. Shareholders of record on Thursday, September 7th will be given a dividend of €0.04 ($0.04) per share. This represents a dividend yield of 2.98%. The ex-dividend date is Thursday, September 7th.

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Rio Tinto has slashed its copper production target and revealed a slow start to 2017 from its flagship iron ore division.

The company has been one of the biggest innovators in "Industrial Metals & Minerals" employing approximately 51018 full time employees.

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