Our Rio Tinto Fair Value Estimate Lifts Marginally to AUD 39 Per Share With Solid Finish to 2016
We raise our fair value estimate marginally to AUD 39 per share with Rio Tinto’s solid finish to the year. Fourth-quarter iron ore volumes beat our expectations by about 1%. In addition, commodity prices finished the year stronger than we expected, notably for iron ore and aluminium. Our adjusted 2016 earnings forecast increases 8% to AUD 3.33 per share thanks primarily to iron ore volumes and aluminium prices. We also raise our full-year 2016 dividend forecast from USD 1.35 to USD 1.45 per shar...Rio Tinto is a mining group based in the United Kingdom and Australia. Co. is engaged in the business of finding, mining and processing mineral resources. Co.'s major products are iron ore, aluminium, copper, diamonds, coal, uranium, gold and industrial minerals (borax, titanium dioxide and salt). Co.'s activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and Africa. Co.'s operations comprise four principal product groups - Iron Ore, Aluminium, Copper and Diamonds, and Energy & Minerals.
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