Electronics

Rio Tinto plc (RIO) Earns Overweight Rating from JPMorgan Chase & Co

Rio Tinto plc (RIO) Earns Overweight Rating from JPMorgan Chase & Co

"In a presentation at an investor seminar in Sydney, Rio Tinto chief executive J-S Jacques underlined the strategy centred around a strong focus on safety, cash generation, a world-class portfolio, commitment to capital discipline and the delivery of superior shareholder returns".

The market cap of 75368.43 for Rio Tinto plc in today's market indicated its current strength, making the company's shares a lucrative one. Rio Tinto plc experienced its Day High at -1.99%, with its Day Low of 32.23%.

Rio Tinto plc (LON:RIO) traded down 0.133% during mid-day trading on Friday, reaching GBX 3098.875. Royal Bank Of Canada raised Rio Tinto plc to an outperform rating and upped their price objective for the company from GBX 2,200 ($27.49) to GBX 3,400 ($42.48) in a report on Thursday, September 8th.

Rio Tinto PLC (LON:RIO) had its stock rating noted as Hold by analysts at Societe Generale. Rio Tinto plc P/E (price to earnings) ratio is 1575.6 and Forward P/E ratio of 12.97.

Other analysts have also recently issued reports about the company. Societe Generale now has a GBX 3000.00 target on the 57.85B GBP market cap company or -5.85% downside potential. The stock has dropped -1.99% from its peak and the consensus price target for the stock is $40.83 a share.

According to Zacks Investment Research, "Rio Tinto PLC is an worldwide mining company". Iron ore boss, Chris Salisbury described the proposed tax as unfair, discriminatory and bad for business, Western Australia, Australia and the mining industry in general.

Rio Tinto shares in London were flat at £31 this morning. The Company's segments include aluminum, copper and coal, diamonds and minerals, and iron ore.

PENNON GROUP: British water utility Pennon Group Plc said its first-half underlying pretax profit grew 11.5 percent as the company continued limiting costs and was helped by increased tariffs and demand at its water supply unit.

And the company said its aluminium business production guidance for 2017: Aluminium 3.5 to 3.7 million tonnes; alumina 8.0 to 8.2 million tonnes and bauxite 48 to 50 million tonnes.

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