Rio Tinto reshuffles execs, iron ore boss

Rio in March named then copper division head Jean-Sebastien Jacques to replace CEO Sam Walsh in a move regarded as a pivot toward growth after years of aggressive cost-cutting amid waning prices and faltering demand in China. Rio Tinto PLC has been tracking to a 50-day average is GBX1,988.40 and its two hundred day average is GBX1,948.16.

According to Zacks Investment Research, “Rio Tinto PLC is an worldwide mining company”.

Other Equity analysts have also commented on the company shares. Axiom Securities cut Rio Tinto plc from a “neutral” rating to a “sell” rating and lowered their target price for the company from $19.00 to $14.00 in a report on Thursday, March 31st.

Rio Tinto Plc (NYSE:RIO) traded on a positive note gaining 0.09 points or 0.3% to be valued at $30.14 per share. The higher price target estimate is at $35 while the lower price estimates are fixed at $22. 3 Wall Street Firms have rated the stock as a strong buys.

The formation of the Energy & Minerals segment brings together the group’s coal, uranium, salt, borates and titanium dioxide businesses, as well as the Iron Ore Company of Canada, all under the aegis of Alan Davies, now Diamonds & Minerals chief executive, in London. Rio Tinto focuses on finding, mining, and processing the Earths mineral resources. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters. Davies earned a reputation as a turnaround expert after he returned to profit Rio Tinto’s diamonds operations, which had been on the block for years until 2013.

The energy and monerals assets are seen posting $US1.2 billion of earnings before interest, tax, depreciation and amortization next year, Bernstein says. “Andrew has held important roles in Australia, the United Kingdom and the United States”. In the context of mining, we would interpret this as meaning aligning supply with demand, so only grow volume when there is an actual market demand for it. This seems to be different to the strategy around iron ore which has seemed more to be around protecting market share than price.