Rio Tinto starts iron ore deliveries from $3B Australia mining project

  • Rio Tinto (NYSE:RIO) said Wednesday it delivered first ore from the $3.1B Gudai-Darri iron ore mine in Western Australia, bringing online its first greenfield mine in the Pilbara in more than a decade.
  • Rio (RIO) plans to ramp up production from the mine through the rest of this year, with full capacity expected in 2023.
  • With an expected life of more than 40 years and a 43M metric tons/year capacity, Gudai-Darri will underpin future production of the company's Pilbara Blend product, Rio Tinto (RIO) Iron Ore CEO Simon Trott said.
  • sRio (RIO) maintained full-year guidance for iron ore shipments of 320M-335M tons, subject to risks around the ramp-up of new mines, weather and management of cultural heritage.

    Over the current book year the company from London could achieve a revenue around 54.5 billion GBp (consensus estimates). The expected revenue would be the highest in her history. This is hugely lower than 2021's revenue of 63.5 billion GBp.

    Historical revenues and results Rio Tinto plus estimates 2022

    koersgrafieken

    The analysts expect for 2022 a net profit of 14.04 billion GBp. The majority of the analysts expects for this year a profit per share of 875 GBp. The price/earnings-ratio therefore equals 6.16.

    Huge dividend Rio Tinto

    Per share the analysts expect a dividend of 544 GBp per share. Thus the dividend yield equals 10.1 percent. The average dividend yield of the mining companies is a low 0.12 percent.

    Recent target prices around 5667 GBp

    The most recent recommendations for the mining company are from Goldman Sachs , Credit Suisse and Deutsche Bank .

    Based on the current number of shares Rio Tinto 's market capitalization equals 6717.07 billion GBp. 28

    At 15.18 the stock trades 0.09 percent higher at 5387 GBp.

    Historical stock prices Rio Tinto

    fundamental research riotinto

    ValueSpectrum.com News Wire & Equity Research: +31 084-0032-842
    news@valuespectrum.com

    Copyright analist.nl B.V.
    All rights reserved. Any redistribution, duplication or archiving prohibited. analist.nl doesn't warrant the accuracy of any News Content provided and shall not be liable for any errors, inaccuracies or for any actions taken in reliance thereon.