Rio Tinto (RIO)

Rio Tinto releases third quarter production results (16/10/2019)

https://www.riotinto.com/documents/191016_Rio_Tinto_third_quarter_production_2019.pdf

Operational update

  • Pilbara iron ore shipments of 86.1 million tonnes (100% basis) in the third quarter were 5% higher
    than the third quarter of 2018. Pilbara iron ore production of 87.3 million tonnes (100% basis) was
    6% higher than the third quarter of 2018 and 10% higher than the previous quarter, reflecting a
    good recovery from the operational and weather challenges experienced earlier in the year.
  • Third quarter bauxite production and shipments to third parties were 9% and 23% higher,
    respectively, than the same period of 2018. Bauxite production from non-managed Joint Ventures
    was lower than planned year to date.
  • Aluminium production of 0.8 million tonnes was 3% lower than the third quarter of 2018, primarily
    reflecting a preventive safety shutdown at one of the three pot-lines at ISAL in Iceland and earlier than planned pot relining at Kitimat in British Columbia, Canada.
  • Mined copper production of 158 thousand tonnes was 1% lower than the third quarter of 2018, but 15% higher than the second quarter, reflecting higher grades at Kennecott and improved throughput at Escondida.
  • At the Oyu Tolgoi underground project, the primary production shaft (shaft 2) remains on track for
    commissioning this month. Since July 2019, we have completed key infrastructure, including the
    central heating plant, the shaft 2 jaw crusher system and the surface discharge conveyor. Work
    continues on the mine re-design.
  • Titanium dioxide slag production of 321 thousand tonnes was 8% higher than the third quarter of
    2018, reflecting a continued improvement in operational performance and the restart of furnaces in 2019.
  • Third quarter production at Iron Ore Company of Canada was 3% higher than the corresponding
    quarter of 2018 and 17% higher than the previous quarter, reflecting a return to normal operating
    conditions following the flooding incident which impacted June.
  • Guidance is unchanged, with the exception of bauxite production, which has been revised to
    around 54 million tonnes (previously 56 to 59 million tonnes), and alumina production, which has
    been revised to around 7.7 million tonnes (previously 8.1 to 8.4 million tonnes).
  • On 25 September 2019, Rio Tinto announced the signing of a Memorandum of Understanding with China Baowu Steel Group and Tsinghua University to develop and implement new methods to reduce carbon emissions and improve environmental performance across the steel value chain.
  • Third quarter exploration and evaluation spend was $177 million, 62% higher than the same period of 2018, primarily reflecting increased activity on advanced projects.

Annual results (26/02/2020)

  • Strong safety performance in 2019, with no fatalities and a slightly improved all injury frequency rate, coming from a strong base. Continued improvement in prevention of catastrophic events through a step-change in process safety management.
  • $14.9 billion operating cash flow was 26% higher than 2018 and $9.2 billion free cash flow was 31% higher than 2018. Both are presented after $0.9 billion tax paid in 2019 relating to the 2018 coking coal disposals.
  • $5.5 billion capital expenditure was consistent with 2018. In late 2019, we announced the approval of two further investments, at Greater Tom Price (iron ore, $0.8 billion) and Kennecott (copper, $1.5 billion).
  • $21.2 billion underlying EBITDA was 17% above 2018, primarily driven by higher iron ore prices, with an underlying EBITDA margin7 of 47%.
  • $10.4 billion underlying earnings were 18% above 2018. Taking exclusions into account, net earnings of $8.0 billion were 41% lower than 2018, mainly reflecting $1.7 billion8 of impairments in 2019, primarily the Oyu Tolgoi underground project, consistent with our 2019 interim results, and the Yarwun alumina refinery. This compared with $4.0 billion of gains on disposals in 2018.
  • Strong balance sheet with net debt4 of $3.7 billion, a rise of $3.9 billion, mainly reflected $11.9 billion of cash returns to shareholders in 2019 through dividends and share buy-backs, and a $1.2 billion non-cash increase from the implementation of IFRS 16 “Leases”, partly offset by free cash flow of $9.2 billion.
  • $7.2 billion full-year dividend, equivalent to 443 US cents per share and 70% of underlying earnings, includes $3.7 billion record final ordinary dividend (231 US cents per share) declared today.

¿Alguien sabe a que se deben las ultimas subidas? No encuentro noticias relevantes más allá del Brexit.
La verdad es que lleva un tiempo dandome muchas alegrias pero no acabo de entender el porqué.

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Rio Tinto acaba de adelantar a Apple como posición que más pesa en mi cartera.

Va como un tiro.

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Lo cual significa que debes tener un YOC aproximado del 15-16%.

Yo tampoco me quejo: le un saco 113% y este mes se ha salido con el aumento de dividendos y el pago extra. Bendito Brexit :joy:.

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Mi YOC en Río Tinto por años:

  • 2017: 8,77%
  • 2018: 10,67%
  • 2019: 23,43%
  • 2020: 13,87%

Este año supongo que rondará el 20%.

:sunglasses:

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Ves como se puede batir al mercado? :joy:

Por supuesto, que se noten las noches sin dormir leyendo balances

image

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FCF x3, dividendo x3

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https://www.businesswire.com/news/home/20210727006252/en/In-exceptional-market-conditions-Rio-Tinto-achieves-record-financial-results-and-declares-total-interim-dividend-of-561-US-cents-per-share-75-of-underlying-earnings

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En Mayo aproveché las plusvalías latentes para deshacerme de la mitad de la posición.

En estas cíclicas no me gusta tener mucha pasta durante mucho tiempo.

Ya volverá a bajar para volver a incrementar la posición.

Mientras, las que me quedan seguirán produciendo.

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Ojo un shur por aquí

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Hola.

Estoy pensando en entrar en RIO.

Cuál sería un buen precio de entrada?
En que exchange las comprais?

Gracias

Es un valor muy cíclico y aunque está dando muy buen RPD, se encuentra en máximos históricos.

Si quieres comprar bien, deberías de tener paciencia y dentro de unos años igual la pillas por debajo de 3.000.

Suerte.

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Teniendo en cuenta que paga dividendo variable en función de ganancias para no superar el 60% payout. Con la disminución de demanda de hierro por parte de China (casi un 50% abajo) pues se espera que los próximos años el dividendo sea menor.
Claro que, este año ha sido excepcional con dos dividendos extra muy suculentos.
Desde las 60 libras, ha bajado considerablemente a 48 libras actuales. Y como dice @Juanmanuel , puede que dentro de poco haya buenos precios para volver a comprar o seguir construyendo posición.

Por cierto. Se supone pagaba el 23 de septiembre. Todavía no me aparece el dividendo. ¿Alguien lo ha recibido?.

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Yo lo recibí el pasado viernes.

:+1:t2:
Pues toca abrir Tique en IB.