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Stock Market & Financial Investment News

News Breaks
June 3, 2014
07:05 EDTRIORio Tinto free cash flow yield poised to jump, says Bernstein
After iron ore prices fell significantly recently, Bernstein says that even under the most bearish price scenario, Rio Tinto's free cash flow yield should jump 76%. The firm reiterates an Outperform rating on the stock.
News For RIO From The Last 14 Days
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March 26, 2015
08:56 EDTRIORio Tinto CEO dismisses iron ore quota plan, Reuters says
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08:35 EDTRIORio Tinto set to cut 'at least' 1,500 jobs, Sky News reports
According to Sky News, Rio Tinto will cut "at least" 1,500 jobs as it struggles with a decline in global commodity prices. According to the report, a "substantial portion" of the jobs will be cut at the company's London headquarters, and the bulk of the planned reductions will occur at Rio's operations in Western Australia. CEO Sam Walsh last month announced a reorganization focused on "streamlining its product groups and corporate functions as part of the continued focus on efficiency and costs." Reference Link
March 23, 2015
09:34 EDTRIOIAMGOLD to sell Diavik Diamond royalty to Sandstorm Gold for $56.8M
AMGOLD (IAG) announced that it has completed an agreement with Sandstorm Gold (SAND) to sell the Company's gross proceeds royalty over property in Lac de Gras in the Northwest Territories, Canada, including property constituting the Diavik Diamond Mine. The Diavik Diamond Mine is owned, under an unincorporated joint venture structure, 60% by Diavik Diamond Mines, a subsidiary of Rio Tinto (RIO), and 40% by Dominion Diamond Diavik Limited Partnership, a subsidiary of Dominion Diamond (DDC). The Diavik Diamond Royalty is being sold for total proceeds of $56.8M, comprised of $52.5M cash on closing and three million five-year warrants exercisable after initial production from the Diavik Diamond Mine's A21 pipe at an exercise price of $4.50, valued at $4.3 million based on the Company's internal valuation methodology.
09:33 EDTRIOSandstorm Gold acquires royalty on Diavik diamon mine operated by Rio Tinto
Sandstorm Gold (SAND) announced that the company has acquired a 1% gross proceeds royalty over property in Lac de Gras in the Northwest Territories, Canada, including property constituting the Diavik Diamond Mine operated by Rio Tinto (RIO). Sandstorm acquired the Diavik Mine Royalty from IAMGOLD Corporation for $52.5M in cash and 3M warrants of Sandstorm. The warrants have a 5 year term, a strike price of $4.50 per Sandstorm common share and will be exercisable following initial production from the Diavik Mine's A21 pipe.
March 16, 2015
10:02 EDTRIOOn The Fly: Analyst Downgrade Summary
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08:10 EDTRIORio Tinto downgraded to Neutral from Overweight at HSBC
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