Rio Tinto added to European Focus List at JPMorgan JPMorgan added Rio Tinto to its European Analyst Focus List after upgrading the European Metals & Mining sector to Overweight from Underweight. The firm expects Rio will see free cash improvement in the second half of 2014 and keeps an Overweight rating on the stock.
News For RIO From The Last 14 Days
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Rio Tinto raises FY14 thermal coal production outlook to 17.5M tonnes The company's previous thermal coal production guidance was 16.7M tons. This follows a change in the production profile to produce additional higher margin thermal coal from a processing plant by-product stream at Hail Creek. As a result of this change and lower than expected production during the ramp up at Kestrel, Australian hard coking coal production has decreased to 7.4M tonnes, previously 8.2M tonnes. Semi-soft coking coal production guidance remains unchanged at 3M tonnes.Rio Tinto’s share of uranium production across Rössing and ERA in 2014 is expected to be between 4.3M-5.1M pounds. This follows operational changes at Rössing in response to current market conditions. Progression to full processing capacity at ERA is anticipated in Q3. Reference Link