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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

GLOW

Glowpoint

$0.33

-0.0056 (-1.68%)

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Breaking Hot Stocks news story on Glowpoint »

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INTT

inTEST

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-0.26 (-2.86%)

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inTEST initiated  »

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NEPT

Neptune Technologies

$3.05

0.14 (4.81%)

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New positions opened in Neptune Tech February puts and calls »

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PTEN

Patterson-UTI

$24.48

0.6 (2.51%)

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MRNS

Marinus Pharmaceuticals

$6.83

-0.05 (-0.73%)

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Notable call buying in Marinus Pharmaceuticals as shares see relative strength »

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AMZN

Amazon.com

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1.26 (0.10%)

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Technical Take: S&P 500 moves to new high, levels to watch »

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Amazon.com

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XLI

Industrial Select Sector SPDR

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S&P Select Materials SPDR

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Consumer Discretionary Sector SPDR

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XLE

Energy Select Sector SPDR

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1.4 (1.83%)

XLK

Technology Select Sector SPDR

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SPY

SPDR S&P 500 ETF Trust

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SPX

S&P 500

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CELG

Celgene

$102.65

0.93 (0.91%)

14:40
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Options
Celgene calls outpace puts 3:1 as shares tick modestly higher »

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General news
Treasury Action: yields have reversed the earlier declines »

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GENC

Gencor Industries

14:30
01/22/18
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Hot Stocks
Royce & Associates reports 7.37% passive stake in Gencor Industries »

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BPL

Buckeye Partners

$56.18

1.155 (2.10%)

14:30
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14:30
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14:30
Options
Bullish option flow in Buckeye Partners as shares rally »

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CLVS

Clovis

$56.76

0.89 (1.59%)

14:25
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14:25
Options
Clovis call volume above normal and directionally bullish »

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$NSD

NASDAQ Market Internals

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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

14:16
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Technical Analysis
NYSE market internals summary »

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CYBE

Cyberoptics

$17.15

0.45 (2.69%)

14:05
01/22/18
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14:05
Hot Stocks
Royce & Associates reports 9.64% passive stake in Cyberoptics »

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FTI

TechnipFMC

$34.31

0.81 (2.42%)

14:05
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14:05
Options
FMC Technologies call volume above normal and directionally bullish »

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  • 22

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CTB

Cooper Tire

$39.65

-0.7 (-1.73%)

14:04
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Royce & Associates reports 5.14% passive stake in Cooper Tire »

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CTG

Computer Task Group

$5.09

0.12 (2.41%)

14:02
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Breaking Hot Stocks news story on Computer Task Group »

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JUNO

Juno Therapeutics

$85.88

18.185 (26.87%)

14:01
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14:01
Downgrade
Juno Therapeutics rating change  »

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INGR

Ingredion

$140.05

2.92 (2.13%)

13:47
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Ingredion promotes Anthony DeLio to SVP, corporate strategy »

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  • 01

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ADSK

Autodesk

$115.29

2.74 (2.43%)

13:45
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Options
Autodesk call volume above normal and directionally bullish »

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GLOB

Globant

$47.41

-0.86 (-1.78%)

13:44
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Breaking Hot Stocks news story on Globant »

JP Morgan Chase reports…

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  • 15

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NWSA

News Corp.

$17.22

0.21 (1.23%)

, NWS

News Corp

$17.55

0.15 (0.86%)

13:39
01/22/18
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13:39
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13:39
Hot Stocks
News Corp. chairman Murdoch makes case for carriage fee for trusted publishers »

News Corp. (NWSA) issued…

NWSA

News Corp.

$17.22

0.21 (1.23%)

NWS

News Corp

$17.55

0.15 (0.86%)

FB

Facebook

$181.29

1.49 (0.83%)

GOOG

Alphabet

$1,137.51

7.72 (0.68%)

GOOGL

Alphabet Class A

$1,143.50

7.53 (0.66%)

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  • 23

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    Mar

W

Wayfair

$90.98

3.135 (3.57%)

13:35
01/22/18
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13:35
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13:35
Options
Wayfair put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 22

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General news
Treasury Action: yields rebounded towards highs »

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