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RIO

Rio Tinto

$39.39

0.39 (1.00%)

20:12
11/23/16
11/23
20:12
11/23/16
20:12

Rio Tinto cuts 2016 capex, says new productivity push to yield $5B in cash flows

As part of a presentation at an investor seminar in Sydney, Rio Tinto CEO Jean-Sebastien Jacques outlined a productivity push expected to generate $5B of additional free cash flow over the next five years: "Rio Tinto intends to raise productivity across its $50B portfolio of assets by focusing on operational excellence to generate superior shareholder returns through the cycle. This is expected to generate a total $5B of further free cash flow by the end of 2021 in addition to the cash cost reduction target of $2B across 2016 and 2017." In addition to boosting performance within its asset base, Rio also committed to investing in growth through its Silvergrass iron ore project in Western Australia, Amrun bauxite project in Queensland, and Oyu Tolgoi copper and gold project in Mongolia, with the company remarking that "this investment underpins an annual average copper equivalent growth in excess of 2% between 2015 and 2025." Rio noted that it expects total cash returns to shareholders "over the longer term to be in a range of 40%-60% of underlying earnings in aggregate through the cycle." Additionally, Rio Tinto said capital expenditure is now expected to be less than $3.5B in 2016, down from around $4B previously. Capital expenditure guidance of around $5B in 2017 and around $5.5B in 2018 was left unchanged from previous estimates. Guidance for 2019 was set at $5.5B. Reference Link

RIO Rio Tinto
$39.39

0.39 (1.00%)

09/12/16
JPMS
09/12/16
UPGRADE
JPMS
Overweight
Rio Tinto upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Lyndon Fagan upgraded Rio Tinto (RIO) to Overweight saying his firm's higher near-term iron ore price forecasts improve the company's free cash flow outlook. The analyst views the current valuation as attractive and continues to prefer Rio to BHP Billiton (BHP). He upped his price target for Rio shares to A$54 from A$51.
09/29/16
CIBC
09/29/16
UPGRADE
CIBC
Sector Performer
Rio Tinto upgraded to Sector Performer from Underperformer at CIBC
10/12/16
SBSH
10/12/16
DOWNGRADE
SBSH
Sell
Rio Tinto downgraded to Sell from Neutral at Citi
11/10/16
HSBC
11/10/16
INITIATION
HSBC
Buy
Rio Tinto initiated with a Buy at HSBC

TODAY'S FREE FLY STORIES

GD

General Dynamics

$195.94

2.7 (1.40%)

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NEO

NeoGenomics

$8.51

0.09 (1.07%)

15:39
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CDE

Coeur Mining

$9.41

0.33 (3.63%)

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Coeur Mining options imply 9.3% move in share price post-earnings, above median historical move »

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CBU

Community Bank System

$57.90

0.3 (0.52%)

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Merchant Bancshares

$50.80

1.15 (2.32%)

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Community Bank System, Merchant Bancshares approved for merger »

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Community Bank System

$57.90

0.3 (0.52%)

MBVT

Merchant Bancshares

$50.80

1.15 (2.32%)

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NSC

Norfolk Southern

$117.89

1.11 (0.95%)

15:31
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$17.3M option play will triple open interest in Norfolk Southern options »

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NFLX

Netflix

$152.16

8.33 (5.79%)

, FB

Facebook

$146.49

1.02 (0.70%)

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FCC chairman outlines net neutrality rollback »

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NFLX

Netflix

$152.16

8.33 (5.79%)

FB

Facebook

$146.49

1.02 (0.70%)

AMZN

Amazon.com

$907.62

0.21 (0.02%)

GOOG

Alphabet

$872.30

9.54 (1.11%)

GOOGL

Alphabet Class A

$888.84

9.91 (1.13%)

CMCSA

Comcast

$38.49

0.48 (1.26%)

CMCSK

Comcast

VZ

Verizon

$47.42

0.72 (1.54%)

T

AT&T

$40.40

0.46 (1.15%)

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SGM

Stonegate Mortgage

$7.96

-0.0059 (-0.07%)

15:29
04/26/17
04/26
15:29
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15:29
Conference/Events
Stonegate Mortgage to host special shareholder meeting »

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NOW

ServiceNow

$90.00

-0.24 (-0.27%)

15:20
04/26/17
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15:20
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15:20
Options
ServiceNow options imply 10.6% move in share price post-earnings, above median historical move »

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MS

Morgan Stanley

$44.50

0.225 (0.51%)

15:18
04/26/17
04/26
15:18
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15:18
Conference/Events
Morgan Stanley management to meet with Evercore ISI »

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TRU

TransUnion

$39.72

0.92 (2.37%)

15:17
04/26/17
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15:17
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15:17
Conference/Events
TransUnion management to meet with Evercore ISI »

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$NSD

NASDAQ Market Internals

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NASDAQ market internals summary »

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HRB

H&R Block

$24.07

-0.175 (-0.72%)

, INTU

Intuit

$119.08

0.32 (0.27%)

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Trump Effect: Tax preparers fall as administration promises simpler code »

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HRB

H&R Block

$24.07

-0.175 (-0.72%)

INTU

Intuit

$119.08

0.32 (0.27%)

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ZION

Zions Bancorp

$40.49

-1.47 (-3.50%)

15:16
04/26/17
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15:16
Conference/Events
Zions Bancorp management to meet with Evercore ISI »

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$NYE

NYSE Market Internals

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NYSE market internals summary »

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T

AT&T

$40.34

0.4 (1.00%)

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AT&T, IBEW reach tentative agreement in Midwest wireline contract negotiations »

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ALNY

Alnylam

$51.35

1.05 (2.09%)

, IONS

Ionis Pharmaceuticals

$47.88

2.14 (4.68%)

15:12
04/26/17
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Recommendations
Alnylam, Ionis Pharmaceuticals analyst commentary  »

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ALNY

Alnylam

$51.35

1.05 (2.09%)

IONS

Ionis Pharmaceuticals

$47.88

2.14 (4.68%)

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VIX

Volatility Index S&P 500 Options

$10.47

-0.29 (-2.70%)

15:11
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Options
Quiet day in the VIX pit as markets see muted reaction to Trump's tax plan »

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STX

Seagate

$50.51

1.09 (2.21%)

15:10
04/26/17
04/26
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15:10
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Seagate analyst commentary  »

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FFIV

F5 Networks

$138.19

0.26 (0.19%)

15:05
04/26/17
04/26
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15:05
Options
F5 Networks options imply 9.1% move in share price post-earnings, above median historical move »

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USB

U.S. Bancorp

$52.47

0.34 (0.65%)

15:01
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U.S. Bank names Kate Quinn chief administrative officer »

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T

AT&T

$40.26

0.32 (0.80%)

15:00
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AT&T CEO 'applauds' FCC initiative to remove 'regulatory cloud' over internet »

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AMZN

Amazon.com

$907.62

0.21 (0.02%)

14:55
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Amazon debuts 'Echo Look' camera, style assistant »

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MENB

Mendocino Brewing Company, Inc.

14:52
04/26/17
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Mendocino Brewing Company gets amendment to current credit facility »

Effective April 25,…

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MLNX

Mellanox

$50.95

-0.55 (-1.07%)

14:50
04/26/17
04/26
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14:50
Options
Mellanox options imply 9.3% move in share price post-earnings, above median historical move »

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