Dernières nouvelles pour Rio Tinto (NYSE:RIO) Stock

Rio Tinto

Rio Tinto is a global diversified miner. Iron ore is the dominant commodity, with significantly lesser contributions from copper, aluminum, diamonds, gold, and industrial minerals. The 1995 merger of RTZ and CRA, via a dual-listed structure, created the present-day company. The two operate as a single business entity, with shareholders in each company having equivalent economic and voting rights. Major assets included the Pilbara iron ore operations, a 30% stake in the Escondida copper mine, 66%-ownership of the Oyu Tolgoi copper mine in Mongolia, the Weipa and Gove bauxite mines in Australia, and six hydro-powered aluminum smelters in Canada.

Rio Tinto PLC

Riocan Real Estate Investment Trust

Rio2 Ltd

Riot Platforms Inc

AMND MSCI BRAZIL ETF

RION Co Ltd

RIO TINTO ADR REP ONE ORD

See-sawing mood persists on Wall Street as the index futures point to a marginally lower start on Wednesday after the tech-led rebound witnessed in the previous session. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is advancing in premarket and the rest of the big techs were just about higher. Commodities are weakening and bond yields are easing. Federal Reserve&#8217;s September rate-setting meeting minutes, speeches by Fed officials and developments around Hurricane Milton&#8217;s landfall in Florida could be on traders&#8217; radar.
Some may choose to move to the sidelines ahead of Thursday&#8217;s consumer price inflation report which is expected to show a further easing in pricing pressure. Some key earnings reports are also expected to drop over the next two sessions, which is likely to give early indications regarding how this reporting season will pan out.
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<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.08%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.06%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.07%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.13%</td>
</tr>
</tbody>
</table>
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In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged down 0.04% to $572.93 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) moved down 0.209% to $488.85, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
IT, communication services and consumer discretionary stocks fueled a strong rally on Wall Street on Tuesday even as energy stocks served as drags. The gains came despite the threat of Hurricane Milton looming large. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rose over 4% after contracts electronics manufacturer Hon Hai Precision Manufacturing Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HNHPF#OTC">HNHPF</a>) issued positive commentary about the demand for the former&#8217;s Blackwell GB200 chips. The positive sentiment rubbed off on other AI-levered tech stocks as well.
The Nasdaq Composite and the S&amp;P 500 hovered in positive territory throughout the session, while the Dow Jones Industrial Average experienced volatility before closing modestly higher. 
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<tbody>
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<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.45%</td>
<td>18,182.92</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.97%</td>
<td>5,751.13</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.30%</td>
<td>42,080.37</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.09%</td>
<td>2,194.98</td>
</tr>
</tbody>
</table>
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Insights From Analysts:
The current bull market started on Oct. 12, 2022, and as its second anniversary nears, a strategist suggested there be could many more years of gains. Carson Group&#8217;s Chief Markey Strategist Ryan Detrick said the S&amp;P 500 Index is up 61% so far in this bull market. On average, a bull market lasts about 5.5 years and the average gain clocked is 181%.
The strategist said the bull market may not end soon. Sharing a graphic showing performances of the index during the previous bull markets, he said, &#8220;Many more years of gains would be perfectly normal.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The bull market is about to turn two. Stocks are up 61% during this bull market, compared with the avg bull market lasting 5.5 years and gaining 181%. Yes, it &#39;could&#39; end soon, but we don&#39;t think it will. In fact, this shows many more years of gains would be perfectly normal. <a href="https://t.co/sbPROOIrTg">pic.twitter.com/sbPROOIrTg</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1843649022126690442?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
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See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
<ul>
<li>The Fed speakers lined up for the day include:
<ul>
<li>Atlanta Fed President Raphael&nbsp;Bostic: 8 a.m. EDT, 12:45 p.m. EDT</li>
<li>Dallas Fed President Lorie&nbsp;Logan: 9:15 a.m. EDT</li>
<li>Chicago Fed President Austan Goolsbee: 10:30 a.m. EDT</li>
<li>Federal Reserve Vice Chair Philip Jefferson: 12:30 p.m. EDT</li>
<li>Boston Fed President Susan Collins: 5 p.m. EDT</li>
<li>San Francisco Fed President Mary&nbsp;Daly: 6 p.m. EDT</li>
</ul>
</li>
<li>The Commerce Department is due to release wholesale inventories report for August at 10 a.m. EDT. Economists, on average, expect wholesale inventories to rise 0.2% month-over-month, the same pace as in July.</li>
<li>The Energy Information Administration is scheduled to release its customary weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>The Treasury is set to auction 10-year notes at 1 p.m. EDT.</li>
<li>The Federal Open Market Committee will release the minutes of its September rate-setting meeting at 2 p.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>Helen of Troy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) is due to report its quarterly results before the market opens, while Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) and AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) will announce their results after the market close.</li>
<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) climbed over 7% after the company announced a new portfolio of fabric switches meant for demanding AI workloads in accelerated computing platforms deployed at cloud-scale.&nbsp;</li>
<li>Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) rose over 3% on a positive analyst action.</li>
<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) slipped over 1% after the company said talks with union members weren&#8217;t going smoothly. Following the strike, S&amp;P placed  Boeing&#8217;s rating on CreditWatch as negative.</li>
<li>Australian miner Arcadium Lithium plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>) soared more than 30% after the company announced an agreement to be acquired by Rio Tinto Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
 Crude oil futures traded modestly lower following Tuesday&#8217;s sharp retreat and gold futures were little changed. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was down less than a percent at a little over $62K. The yield on the benchmark 10-year Treasury note was down 1.9 points to 4.016%.
The Asian stocks had another mixed outing on Wednesday, with China&#8217;s Shanghai Composite slumping 6.62% and Hong Kong&#8217;s Hang Seng Index falling 1.38%. The lack of any further announcements concerning additional stimulus weighed down on these two markets. On the other hand, the Japanese market advanced. The South Korean market was closed for a public holiday.
The European markets were firmer in early trading on Wednesday. 
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Photo via Shutterstock

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US Stocks Set To Open Marginally Lower, Nvidia Gains, Traders Eye Fed Minutes: Strategist Predicts Many More Years Of Gains Ahead Of Bull Market's 2nd Anniversary

Rio Tinto PLC ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) has announced a definitive agreement to acquire Arcadium Lithium plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>) in an all-cash deal valued at $6.7 billion.
What Happened: As per the press release on Wednesday, the acquisition price of $5.85 per share represents a 90% premium over Arcadium&#8217;s closing price on Oct. 4.
According to <a href="https://pro.benzinga.com">Benzinga Pro</a>, at the time of writing, Arcadium was up by 29.48% in pre-market since its Tuesday close while Rio was trading 1.16% lower than its previous day&#8217;s closing price.
The transaction will integrate Arcadium&#8217;s lithium operations into Rio Tinto&#8217;s portfolio, positioning the company as a leader in energy transition commodities. Arcadium, a vertically integrated lithium chemicals producer, boasts a production capacity of 75,000 tonnes of lithium carbonate equivalent annually, with plans to double by 2028.
This acquisition comes at a time when Rio Tinto is in heated debates with the Serbian government on a proposal to ban lithium and borate mining, a move that could impact Rio Tinto&#8217;s significant mining project in the country&#8217;s western region.
As per Reuters on Monday, Serbia reinstated Rio Tinto&#8217;s license in July to develop what is poised to be Europe&#8217;s largest lithium mine, reversing a previous government decision influenced by environmental protests.
The Jadar lithium project, valued at $2.4 billion, is expected to fulfill 90% of Europe&#8217;s current lithium demand, potentially establishing Rio Tinto as a key player in the global lithium market.
Rio Tinto&#8217;s CEO, Jakob Stausholm, emphasized the strategic importance of this acquisition, stating it aligns with the company&#8217;s long-term goals and enhances its capabilities in lithium production. Arcadium&#8217;s CEO, Paul Graves, expressed confidence in the deal, highlighting its potential to accelerate Arcadium&#8217;s growth strategy.
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41204472/if-you-invested-1000-in-bitcoin-when-rap-legend-nas-sang-that-he-was-coin-based-basically-?itm_source=parsely-api"> If You Invested $1000 in Bitcoin When Rap Legend Nas Sang That He Was &#8216;Coin-Based, Basically Crypto-Currency Scarface,&#8217; Here&#8217;s How Much You&#8217;d Have Today</a>
The acquisition, approved by both companies&#8217; boards, is expected to close by mid-2025, pending shareholder and regulatory approvals. This strategic move comes as Rio Tinto aims to capitalize on the growing demand for lithium, driven by the global energy transition.
Why It Matters: The acquisition of Arcadium Lithium marks a significant step for Rio Tinto in its ambition to become a major player in the <a href="https://www.benzinga.com/news/large-cap/24/10/41203850/rio-tinto-confirms-interest-in-arcadium-lithium-shares-surge">global lithium market.</a> Earlier in October, Rio Tinto confirmed its interest in acquiring Arcadium, a key supplier for Tesla Inc., which caused Arcadium&#8217;s shares to surge. This acquisition positions Rio Tinto as one of the largest lithium producers worldwide, trailing only behind industry giants like Albemarle Corp and SQM.
In June, Rio Tinto announced plans to initiate <a href="https://www.benzinga.com/news/large-cap/24/06/39357247/rio-tinto-to-initiate-largest-european-lithium-project-by-2028">Europe&#8217;s largest lithium project</a> by 2028 in Serbia. The Jadar project, which has been on hold since 2022, is set to produce 58,000 tons of refined battery-grade lithium carbonate annually. This project is expected to supply 17% of Europe&#8217;s electric vehicle production needs, underscoring Rio Tinto&#8217;s strategic focus on the lithium market.
Read Also:
<ul>
<li>Why Arcadium Lithium Shares Are Trading Higher By 28%; Here Are 20 Stocks Moving Premarket</li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image via Pixabay

General

Major Tesla Supplier Arcadium Lithium Jumps Over 30% In Pre-Market After Rio Tinto Agrees To Buy Company For $6.7B

Shares of Saratoga Investment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAR#NYSE">SAR</a>) rose sharply in today's pre-market trading after the company reported better-than-expected earnings and sales results <a href="https://www.benzinga.com/quote/SAR/earnings">for its second quarter</a>.
The company reported quarterly earnings of $1.33 per share which beat the analyst consensus estimate of 94 cents per share.
Saratoga Investment shares jumped 7.9% to $25.43 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Carmell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTCX#NASDAQ">CTCX</a>) rose 52.5% to $0.5118 in pre-market trading after dipping 5% on Tuesday.</li>
<li>WW International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WW#NASDAQ">WW</a>) rose 42.4% to $1.65 in pre-market trading. WW shares jumped 47% on Tuesday after the company announced the addition of compounded semaglutide into its offering.</li>
<li>Arcadium Lithium plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NASDAQ">ALTM</a>) gained 31.1% to $5.56 in pre-market trading after Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) announced plans to acquire the company in an all-cash transaction for $5.85 per share.</li>
<li>Kezar Life Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KZR#NASDAQ">KZR</a>) shares rose 20.3% to $0.8850 in pre-market trading. Tang Capital Management disclosed a 9.9% active stake in Kezar Life Sciences with 7.2 million shares acquired for $5.6 million.</li>
<li>iCoreConnect Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCT#NASDAQ">ICCT</a>) shares gained 16.1% to $0.4150 in pre-market trading. iCoreConnect recently announced it acquired substantially all of the assets of the Healthcare Circle of Excellence..</li>
<li>PLBY Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLBY#NASDAQ">PLBY</a>) shares surged 12% to $0.80 in pre-market trading.</li>
<li>The Oncology Institute, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOI#NASDAQ">TOI</a>) shares jumped 10.2% to $0.3449 in pre-market trading after declining around 4% on Tuesday.</li>
<li>IN8bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INAB#NASDAQ">INAB</a>) gained 9.5% to $0.2466 in pre-market trading after dipping around 12% on Tuesday.</li>
<li>Standard Lithium Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLI#NYSE">SLI</a>) rose 7.5% to $1.86 in pre-market trading after declining 8% on Tuesday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Paltalk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PALT#NASDAQ">PALT</a>) shares dipped 20.2% to $2.45 in pre-market trading after falling around 4% on Tuesday.</li>
<li>Kidpik Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PIK#NASDAQ">PIK</a>) shares declined 19.6% to $1.76 in pre-market trading.</li>
<li>Moolec Science SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLEC#NASDAQ">MLEC</a>) fell 19.2% to $0.7100 in today's pre-market trading. The company recently reported a loss for the fourth quarter.</li>
<li>LeddarTech Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LDTC#NASDAQ">LDTC</a>) shares fell 18.7% to $0.22 in pre-market trading after gaining 3% on Tuesday.</li>
<li>Nature&#8217;s Miracle Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NMHI#NASDAQ">NMHI</a>) fell 17% to $0.1632 in pre-market trading after gaining 45% on Tuesday.</li>
<li>Ambow Education Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBO#NYSE">AMBO</a>) shares declined 15.8% to $3.52 in pre-market trading after gaining 4% on Tuesday.</li>
<li>Royalty Management Holding Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMCO#NASDAQ">RMCO</a>) shares fell 14.7% to $0.7865 in pre-market trading after declining 3% on Tuesday.</li>
<li>Ontrak, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTRK#NASDAQ">OTRK</a>) shares fell 14.2% to $2.37 after jumping 52% on Tuesday.</li>
<li>Delek Logistics Partners, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) fell 10.2% to $40.11 in pre-market trading. Delek Logistics Partners priced its public offering of 3,846,153 common units at $39 per unit.</li>
<li>UP Fintech Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIGR#NASDAQ">TIGR</a>) declined 7.3% to $8.92 in pre-market trading after dipping around 16% on Tuesday.</li>
</ul>
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Why Saratoga Investment Shares Are Trading Higher By Around 8%; Here Are 20 Stocks Moving Premarket

<ul>
<li>World-class lithium business to strengthen Rio Tinto&#39;s position as global leader in</li>
<li>energy transition commodities</li>
<li>Counter-cyclical expansion into a high-growth market, aligned with Rio Tinto&#39;s long-term strategy and disciplined capital allocation framework</li>
<li>Rio Tinto&#39;s scale, project development capabilities and financial strength to unlock full potential of</li>
<li>Arcadium Lithium&#39;s Tier 1 resource base</li>
</ul>

Rio Tinto To Acquire Arcadium Lithium For $6.7B At $5.85/Share, Boosting Global Position In Lithium Market

Rio Tinto plc ADR Common Stock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) shares are trading lower by 4.2% to $66.65 Tuesday afternoon. Shares of copper and iron ore companies are trading lower amid China <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41227136/chinese-stocks-plunge-as-stimulus-hopes-fade-hong-kong-posts-worst-daily-decline-si">stimulus uncertainty</a>.
What Happened: Rio Tinto shares fell today in response to a sharp selloff in Chinese markets, with the Hang Seng Index plunging more than 9%. 
The drop, the index's worst since the 2008 financial crisis, was driven by mounting investor disappointment over the lack of aggressive economic stimulus from Beijing, sparking fears of slowing demand for key commodities like iron ore, copper and aluminum—major products in Rio Tinto&#8217;s portfolio.
Rio Tinto&#8217;s business is closely tied to the health of the Chinese economy, which accounts for a significant portion of global demand for industrial metals. As one of the world's largest consumers of raw materials, China's economic policies and growth trajectory have a direct impact on the mining giant's revenues.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41236355/stocks-rally-as-oil-prices-tumble-tech-chipmakers-lead-as-traders-focus-on-ai-winners-before-earnin">Stocks Rally As Oil Prices Tumble; Tech, Chipmakers Lead As Traders Focus On AI Winners Before Earnings Season: What&#8217;s Driving Markets Tuesday?</a>
What Else: For Rio Tinto, the market reaction reflects growing concerns about the demand outlook for industrial commodities, particularly iron ore, which is used primarily in steel production—a key component of China's infrastructure and construction sectors. Without strong stimulus measures, particularly in the form of new infrastructure projects or housing construction, analysts fear that China's demand for iron ore could stagnate or even decline. This would be a major headwind for Rio Tinto, which derives a significant portion of its revenue from iron ore production in Australia, one of the company&#8217;s core businesses.
Copper, a key material in construction, electronics and renewable energy projects, has been a focal point for Rio Tinto's growth strategy as it positions itself to benefit from the global energy transition. However, if China's economic slowdown continues, demand for copper and aluminum could also weaken, further weighing on Rio Tinto's outlook.
Rio Tinto has been benefiting from strong commodity prices over the past few years, driven by China's previous stimulus efforts and post-pandemic recovery. But the current lack of significant fiscal support from Beijing raises concerns that the mining giant may face softer demand, particularly if economic growth in China continues to fall short of expectations. 
With China's property sector still facing challenges and infrastructure investment lagging, the absence of a more aggressive stimulus package could signal a slower rebound in key industries that drive commodity consumption.
<a href="https://www.benzinga.com/markets/cannabis/24/10/41233018/exclusive-ross-gerber-sees-tsunami-of-money-pouring-into-cannabis-companies-upon-federal-legaliz">EXCLUSIVE: Ross Gerber Sees &#8216;Tsunami Of Money&#8217; Pouring Into Cannabis Companies Upon Federal Legalization, Says Cannabis Is One Of &#8216;Biggest&#8217; Opportunities Beyond AI</a>
<h2 class="wp-block-heading">Is RIO A Good Stock To Buy?</h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/RIO">Rio Tinto</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Rio Tinto does pay a dividend, which yields 7.77% per year as of the closing price on Oct. 8, 2024. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 14.18%, you'll need to buy a share of Ellington Residential by the Oct. 31, 2024. Once done, you can expect to receive a nominal payout of $0.08 on Nov. 25, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/RIO">Rio Tinto</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, RIO has a 52-week high of $75.09 and a 52-week low of $59.35.

Why Rio Tinto Stock Is Trading Lower Tuesday

WIIM

SCCO

TECK

VALE

Shares of copper and iron ore companies are trading lower amid China stimulus uncertainty.

On Monday, Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) confirmed that it is in <a target="_blank" href="https://www.riotinto.com/en/news/releases/2024/rio-tinto-confirms-approach-to-arcadium-lithium" rel="noreferrer noopener">non-binding talks to acquire</a> Arcadium Lithium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>), a <a target="_blank" href="https://www.benzinga.com/topic/lithium" rel="noreferrer noopener">major lithium miner</a> formed from the merger of Livent and Allkem. Both companies clarified that the discussions are preliminary, and there is no certainty that a transaction will proceed.
If the acquisition goes through, Rio Tinto would become one of the largest lithium producers globally, behind industry leaders like Albemarle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) and SQM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>).
However, the company would have to pay a significant premium, as industry insiders value Arcadium between $4 billion and $6 billion—representing a potential 60% premium over the company's market value.
Still, even that premium would be far off Arcadium's $10.6 billion valuation in January when a merger between Alkem and Livent <a target="_blank" href="https://www.benzinga.com/markets/commodities/23/12/36309873/livent-secures-allkem-merger-following-piper-sandler-downgrade" rel="noreferrer noopener">created the enterprise</a>.
Since then, a prolonged slump in the lithium market has sent the shares down by more than 50%, making it an acquisition target. The company is also a diverse producer, with an operational footprint in nine countries and high-profile customers such as Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), BMW, and General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>).
Michael Teran, deputy portfolio manager at Blackwattle Investment Partners, classified this move as an "opportunistic bid to take advantage of low lithium prices."
Most investors in the stock have already had a lot of pain or are there for the longer term, so they are looking through the cycle to see where this could end up," he said <a target="_blank" href="https://www.ft.com/content/a2f3f634-28fb-46cf-933e-9cc44b476a31" rel="noreferrer noopener">to</a> the Financial Times.
Rio Tinto already has significant lithium projects in development, including the Rincon project in Argentina and the Jadar project in Serbia. The company has committed <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/03/37855851/argentinas-lithium-mining-sector-gets-350m-boost-with-rio-tinto-investment" rel="noreferrer noopener">significant capital to developing Rincon</a>, with plans to invest $2 billion in building a lithium carbonate production plant to ramp up production in 2025.
However, the Jadar project has faced <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/06/39357247/rio-tinto-to-initiate-largest-european-lithium-project-by-2028" rel="noreferrer noopener">considerable opposition</a> from local communities in Serbia. They are concerned about environmental impacts and slowing progress on one of Rio's critical European ventures.
Owing to the mineral nature of the lithium there, the project could not even use Arcadium's advanced direct lithium extraction (DLE) technology, which the company has been refining. Still, it would be a valuable advancement for brine-based projects in South America.
The Australian listing of Arcadium Lithium rose 45.7% on the news, closing at A$6.09 ($4.13). The US premarket listing was up 30%, trading at $3.98&nbsp; as of 6 AM ET.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/10/41176539/vale-plans-to-expand-copper-output-invests-184m-for-domestic-critical-minerals" target="_blank" rel="noreferrer noopener">Vale Plans To Expand Copper Output, Invests $184M For Domestic Critical Minerals</a></li>
</ul>
Photo via Shutterstock

Large Cap

Commodities

Media

TSLA

Rio Tinto Confirms Interest In Arcadium Lithium, Shares Surge

Reported Sunday, Arcadium Lithium Confirms Non-Binding Acquisition Approach By Rio Tinto

Rio Tinto In Talks To Buy Arcadium Lithium; Deal Could Value Arcadium Between $4B-$6B Or Higher

Source: <a href="https://www.streetwisereports.com/article/2024/10/02/strategic-expansion-fuels-u-s-uranium-production-surge-amid-global-supply-shifts.html?utm_medium=feed">Streetwise Reports 10/02/2024</a>
Uranium Energy Corp. (AMEX:UEC) has taken a step in expanding its U.S. uranium production capacity through the acquisition of Rio Tinto Plc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rio#NYSE">RIO</a>) Sweetwater Plant and a portfolio of Wyoming uranium assets.
Announced on September 23, the transaction, valued at US$175 million, adds approximately 175 million pounds of historic uranium resources to UEC&#39;s holdings. This acquisition creates UEC&#39;s third hub-and-spoke production platform in the U.S., further solidifying its role as a leading player in the domestic uranium market.
The Sweetwater Plant has a licensed processing capacity of 4.1 million pounds of uranium per year and is a key strategic asset. This enables UEC to expand its capabilities for both in-situ recovery (ISR) and conventional mining methods. This announcement comes as the U.S. increases its focus on securing domestic uranium supplies in light of geopolitical shifts, like the U.S. ban on Russian uranium imports. The transaction is expected to close in Q4 2024, with UEC utilizing its available liquidity to fund the purchase.
<h2>Looking Into The Uranium Market</h2>
On September 30, The New York Times reported that &quot;uranium mines are ramping up across the West, spurred by rising demand for electricity and federal efforts to cut Russia out of the supply chain for U.S. nuclear fuel.&quot;
This surge in demand has helped drive uranium prices to their highest levels in over 15 years, according .to TradeTech, a consulting firm. These market conditions have led to a revitalization of mining regions that had been in decline since the end of the Cold War.
<blockquote class="callOut left">Chris Temple of The National Investor noted that UEC was &quot;upgraded back to Buy&quot; following recent market news and encouraged increased exposure to the uranium sector.</blockquote>
The industry is expected to continue growing, with U.S. production of uranium, specifically yellowcake, predicted to reach approximately six million pounds by 2028. John W. Cash, CEO of Ur-Energy, highlighted the recovery in the Times article, comparing the industry to &quot;a broken arm that&#39;s been in a cast for a long time.&quot;
Kitco, on September 25, also noted the robust market conditions, stating that &quot;the U3O8 uranium spot price has risen significantly over the last five years.&quot; The article pointed out that uranium and related equities have outperformed other asset classes over the long term, reinforcing the optimistic outlook for the sector.
In line with this positive trajectory, The Financial Times reported on September 20 that the price of enriched uranium has more than tripled since early 2022, signaling the growing demand for nuclear energy. Additionally, uranium hexafluoride prices have increased fourfold, underscoring the bottlenecks in the conversion stage of the nuclear fuel supply chain. Jonathan Hinze, CEO of UxC, explained that this surge in conversion and enrichment prices was &quot;reflecting a much bigger supply squeeze due to the Russia-Ukraine war and other factors.&quot;
<h2>Catalysts</h2>
According to UEC&#39;s September 2024 investor presentation, the acquisition of Rio Tinto&#39;s Wyoming assets marks a highly strategic addition to UEC&#39;s growing U.S. portfolio. The transaction creates operational synergies by integrating Rio Tinto&#39;s Sweetwater Plant with UEC&#39;s existing operations in Wyoming&#39;s Great Divide Basin. This allows UEC to streamline infrastructure and personnel across its newly expanded land position, which now totals over 108,000 acres, further enhancing exploration and production opportunities.
<blockquote class="callOut right">Joe Reagor of Roth MKM, also on September 25, reiterated his Buy rating on UEC and increased the company&#39;s price target from US$9.00 to US$9.50</blockquote>
The Sweetwater Plant&#39;s capability to be adapted for ISR processing, in addition to conventional mining, provides UEC with significant production flexibility at a lower capital cost compared to building new facilities.
This expansion comes as uranium demand continues to grow due to global clean energy initiatives and recent U.S. government actions, including the Department of Energy&#39;s efforts to bolster domestic uranium production.
UEC&#39;s latest acquisition supports its long-term strategy of becoming a leading supplier of uranium in North America, capitalizing on both industry tailwinds and its expanded resource base.
<h2>A Buy-Rated Stock</h2>
On September 25, Chris Temple of The National Investor noted that UEC was &quot;upgraded back to Buy&quot; following recent market news and encouraged increased exposure to the uranium sector. He pointed to UEC&#39;s acquisition of Rio Tinto&#39;s Wyoming uranium assets as a catalyst, emphasizing that uranium is &quot;in the early innings of this new bull market.&quot; Temple also recommended UEC as part of his broader strategy for capitalizing on uranium&#39;s growth potential.
Jeff Clark of The Gold Advisor, in his September 26 update, discussed UEC&#39;s expansion of its U.S. production capacity by acquiring Rio Tinto&#39;s Sweetwater Plant and other Wyoming uranium assets. He called this acquisition a &quot;significant move&quot; noting that it consolidated a large portfolio of uranium assets under UEC&#39;s control, positioning the company for rapid growth. He also highlighted the company&#39;s strategic advantage with &quot;53,000 additional acres for exploration&quot; reinforcing UEC&#39;s potential to ramp up production.
Joe Reagor of Roth MKM, also on September 25, reiterated his Buy rating on UEC and increased the company&#39;s price target from US$9.00 to US$9.50. He referred to the Rio Tinto acquisition as an &quot;ideal bolt-on&quot; for UEC, with the potential to unlock significant shareholder value. Reagor pointed out that UEC&#39;s ability to update these assets to be SK-1300 compliant could significantly increase their worth, supporting his optimistic outlook for the company.
<h2>Ownership and Share Structure </h2>
According to the company&#39;s investor presentation, Uranium Energy has a market cap of US$2.13 billion and 406 million shares outstanding. 
Yahoo! Finance notes that 1.99% of the company is owned by management and insiders.
The largest portion, 77.75%, is held by institutional investors.
The rest is in retail.
Important Disclosures:
<ol>
<li>As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Uranium Energy Corp.</li>
<li>James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
</ol>

Mid Cap

Price Target

Analyst Ratings

Strategic Expansion Fuels U.S. Uranium Production Surge Amid Global Supply Shifts

Uranium stocks have been surging thanks to the Constellation Energy Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ceg#NASDAQ">CEG</a>) and Microsoft Co.&nbsp;deal for the largest power-purchasing deal in history. The large hyperscalers are committed to sustainable and clean energy solutions to power their data centers. The electricity will be supplied by restarting the Three Mile Island Unit 1 nuclear reactor pending regulatory approval by the United States Nuclear Regulatory Commission (NRC). Uranium is required to power this and other nuclear reactors, which is why uranium stocks in the oils and energy sector have been rising sharply.
Here are two more uranium stocks that are gaining from the movement to fuel nuclear power plants.
<h2>Uranium Royalty Gains Access Without the Risk of Mining and Processing </h2>
While Uranium Royalty Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uroy#NASDAQ">UROY</a>) doesn&#39;t produce nor intends to produce uranium, it believes itself to be a pure-play uranium company. The word &#39;royalty&#39; in its name doesn&#39;t refer to monarchs or bloodlines but to royalty payments it receives from its portfolio of geographically diversified uranium assets. They basically make money off of partially owning uranium assets by collecting royalty payments without having to bear the capital expenditure (CAPEX) and risk that comes from operating a mining company.
<h3>A Portfolio of Royalty-Bearing Uranium Assets</h3>
Uranium Corp.&#39;s portfolio of 22 uranium assets for which it has minor and royalty interests. The interests range in project stage from exploration like the Rio Tinto Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rio#NYSE">RIO</a>) owned Russell Lake project for which it can receive a 1.9766% of the net smelter return (MSR) to the 2% to 4% gross value return royalty (GVR) of the Energy Fuels Inc. (AMEX:UUUU) owned Whirlwind project to the 10% to 20% net profits interest (NPI) royalty from the Cigar Lake/Waterbury project operated by Cameco Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ccj#NYSE">CCJ</a>). The stock can be considered a mini-ETF of tiny stakes in uranium assets. Uranium Royalty also owns 2.8 million pounds of physical uranium. The company is still in the process of generating revenue.
<h2>Denison Mines&#39; Wheeler River Project: A Uranium Powerhouse in the Making</h2>
Denison Mines (AMEX:DNN) is a speculative uranium exploration and development company based in Toronto, Canada. It holds a 95% interest in its flagship Wheeler River Project, located in Saskatchewan&#39;s Athabasca Basin. The project spans roughly 300,000 hectares and includes the Gryphon and Phoenix deposits.
<h3>The Phoenix Deposit</h3>
While the Wheeler River Project isn&#39;t yet producing uranium, the Phoenix deposit is currently undergoing the permitting process for In-Situ Recovery (ISR). The Phoenix deposit has a 10-year mining life with probable resources of $56.7 million tons of U3O8 uranium. Approval is expected in 2025. The all-in-sustaining cost (AISC) is around $16.00 per pound, with $318.10 million in initial costs, making it extremely lucrative at current uranium spot prices above $80 per pound.
<h3>The Gryphon Deposit</h3>
The Gryphon deposit is several years behind Phoenix in development, with a mine life of 6.5 years and 49.7 million pounds of probable uranium resources. Its AISC is $25.47, but initial capital costs are higher, estimated at $564.2 million.
<h3>Denison&#39;s Uranium Inventory and Revenue Generating Interests</h3>
While Denison doesn&#39;t yet produce uranium, it owns 2.2 million pounds of it that it purchased for $29.60 per pound in 2021, worth around $178 million. It also generates revenue from its 22.5% stake in McClean Lake, which has a licensed mill for an annual production capacity of 24 million pounds. Dennison collects revenues from the toll milling. The mill processes ore from the Cigar Lake mine, where Cameco Corp operates.
Denison generated $964,000 in Q2 2024 with an EPS loss of 1 cent, matching consensus estimates. Incidentally, Denison is debt-free and has working capital and investments valued at nearly 70% of its market cap. This prompted BMO to upgrade its rating to Outperform from Market Perform with a $2.22 price target. CIBC started coverage on Denison with a Sector Outperform rating. MarketBeat has seven analyst Buy ratings with an average consensus price target of $2.93 and a high target of $3.25.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/2-uranium-stocks-fueling-growth-from-the-nuclear-power-surge/">2 Uranium Stocks Fueling Growth From the Nuclear Power Surge</a>&quot; first appeared on MarketBeat.

Penny Stocks

Regulations

Small Cap

UROY

UUUU

2 Uranium Stocks Fueling Growth From the Nuclear Power Surge

Shares of copper companies are trading higher following a report suggesting China will issue up to $284 billion of sovereign debt as part of a stimulus.

Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) shares, among other metal and mining stocks, are moving higher Tuesday after China Central Bank announced a <a href="https://www.benzinga.com/markets/asia/24/09/41007724/gold-breaks-records-on-chinas-policy-stimulus-mining-metal-stocks-exhibit-strongest-1-day-rally-in-2">new stimulus package.</a>
What Happened: The stimulus package includes cutting the reserve requirement ratio (RRR) by .5 percentage points and lowering both the loan prime rate and deposit rates by 0.2 to 0.25 percentage points.
In addition, the central bank cut the seven-day reverse repurchase rate to 1.5% and lowered the minimum down-payment ratio to 15%. The announcement of these economic measures comes amid a slowdown in China&#8217;s markets and could help support investment and support metals demand. 
Larry Hu, head of China economics at Macquarie Group Limited, told Bloomberg, "The purpose of today's briefing is to inject confidence into the market, judging by the fact that the authorities revealed measures in one go. The stimulus push will still need coordination from other policies — particularly follow-up policies from the fiscal side.&#8221;
Other copper related stocks that are trading higher following the bank&#8217;s announcement include Hudbay Minerals Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBM#NYSE">HBM</a>) and Rio Tinto Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>).
How To Buy Freeport-McMoRan Shares
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>)'s case, it is in the Materials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
Related Link: <a href="https://www.benzinga.com/markets/equities/24/09/41010971/kbr-lands-113m-air-force-deal-to-drive-next-gen-refueling-systems-and-cybersecurity-innovation">KBR Lands $113M Air Force Deal To Drive Next-Gen Refueling Systems And Cybersecurity Innovation</a>
FCX Price Action: At the time of publication, Freeport-McMoRan shares are trading 7.72% higher at $48.63, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shutterstock

What's Going On With Freeport-McMoRan Shares Tuesday?

Shares of copper stocks are trading higher after China Central Bank announced a new stimulus package.

Uranium Energy Corp. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UEC#AMEX">UEC</a>) shares are trading higher on Monday. The company disclosed a deal to fully acquire Rio Tinto Plc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) Wyoming assets <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40975965/uranium-energy-corp-expands-u-s-production-capacity-with-acquisition-of-rio-tintos-sweetwater-plan" rel="noreferrer noopener">for a purchase price of $175 million</a>.
As per the deal, the buyout includes the fully licensed Sweetwater Plant and a portfolio of uranium mining projects with around 175 million pounds of historic resources.
The Sweetwater Plant, with a 3,000-ton-per-day capacity and licensed for 4.1 million pounds annually, can be adapted for both ISR and conventional mining, offering UEC production flexibility.
UEC&#8217;s available liquidity will cover the purchase price. UEC controls 12 uranium projects in Wyoming&#8217;s Great Divide Basin.
The acquisition provides a valuable asset base, saving time and costs compared to building a new facility or gathering geological data.
This transaction provides a rare opportunity to acquire licensed uranium facilities from a global leader, accelerating UEC&#8217;s production in the Great Divide Basin.
The buyout adds 175 million pounds of uranium resources, valued below UEC&#8217;s current trading levels. Half are suited for ISR mining, prioritized for near-term production, while conventional resources offer potential for future growth.
Amir Adnani, President and CEO, said, &#8220;These assets will unlock tremendous value by establishing our third hub-and-spoke production platform and cement UEC as the leading uranium developer in&nbsp;Wyoming&nbsp;and the U.S.&#8221;
&#8220;We&#8217;re witnessing unprecedented global growth in nuclear energy and demand for uranium as demonstrated by the recently proposed Three Mile Island restart in support of Microsoft&#8217;s AI growth.&#8221;
&#8220;The Russian uranium ban and recent comments by Russian government officials regarding restricting future uranium exports to the west underscore the critical importance of maintaining reliable domestic supply chains to power our growing requirements for clean baseload energy.&#8221;
Investors can gain exposure to the stock via&nbsp;Sprott Junior Uranium Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URNJ#NASDAQ">URNJ</a>).
Price Action: UEC shares are up 5.32% at $5.835 at the last check Monday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/40981254" target="_blank" rel="noreferrer noopener">Chinese Vehicle Tech Faces Biden Administration Ban Over National Security Concerns: China EV Stocks Fall</a></li>
</ul>

URNJ

Uranium Energy Strikes $175M Deal To Acquire Rio Tinto's Wyoming Assets

Wyoming&nbsp;assets&nbsp;comprise&nbsp;of the wholly-owned and fully-licensed Sweetwater Plant &nbsp;and a portfolio of uranium mining projects with approximately 175 million pounds of historic resources.
Completion of the Transaction is subject to customary conditions for a transaction of this nature, with closing expected to occur in the&nbsp;fourth quarter&nbsp;of the calendar year 2024.&nbsp;

Uranium Energy Enters Agreement To Acquire 100% Of Rio Tinto's Wyoming Assets; Purchase Price Payable At Closing Is $175M

Rio Tinto (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rio#NYSE">RIO</a>) announced that it would invest in Pongamia seed farms in Australia to explore the possibility of using its seed oil as a feedstock for renewable diesel. RIO sees biofuels as an avenue to reduce the dependence on fossil diesel, which accounts for around 10% of its emissions footprint in Australia.
To achieve net-zero Scope 1 and 2 carbon emissions by 2050, Rio Tinto has chosen electrification as the long-term solution for replacing the use of diesel in its fleet. While electrification is in progress, the company is looking at other quicker options to lower diesel-sourced emissions, such as biofuels.
Australia does not yet have a biofuel feedstock industry capable of meeting domestic demand. Rio Tinto expects that the pilot will play an important role in addressing this gap while supporting its journey to achieve decarbonization goals.
<h2>Rio Tinto Joins Forces With Midway for Pongamia Farm Trial</h2>
Pongamia is a fast-growing tree that is native to northern Australia. It produces large numbers of seeds, which are rich in oil and protein. The seeds can be processed into renewable diesel, which offers a significant reduction in carbon emissions compared with fossil fuel diesel.
After the extraction of oil, the seed pod and meal can be processed for other uses such as cattle feed. Pongamia has other benefits, it is drought tolerant, salinity and flood resistant, with low water, fertilization and pest control requirements making it easy to grow.
Rio Tinto is in the final stages of acquiring approximately 3,000 hectares of cleared land near Townsville in north Queensland to establish farms to study growth conditions and measure seed oil yields.
RIO has partnered with Midway Limited to oversee the planting and management of the seed farms. The companies will plant approximately 750,000 Pongamia saplings.
<h2>Rio Tinto&#39;s Decarbonization Efforts</h2>
In 2023, Rio Tinto&#39;s Scope 1 and 2 emissions were 32.6Mt CO2e, which marked a reduction of 5.5% from its 2018 baseline. It plans to invest capital in the range of $5- $6 billion by 2030 to deliver on its decarbonization strategy.
In July, RIO announced that it is set to install carbon-free aluminum smelting cells at its Arvida smelter in Qu&eacute;bec, Canada, utilizing the first technology license issued by the ELYSIS joint venture. The groundbreaking ELYSIS technology aims to eliminate all direct greenhouse gases from the conventional aluminum smelting process by producing oxygen as a byproduct while improving efficiency by producing more aluminum at lower costs.
In May 2024, Rio Tinto and BHP Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) teamed up to trial large battery-powered haul trucks manufactured by Caterpillar (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cat#NYSE">CAT</a>) and Komatsu (OTC: <a class="ticker" href="https://www.benzinga.com/stock/kmtuy#OTC">KMTUY</a>) in the Pilbara region of Western Australia. The trials will kick off with two Cat 793 haul trucks in 2024, followed by two Komatsu 930 haul trucks in 2026.
BHP will trial the Caterpillar trucks while Rio Tinto will test the Komatsu trucks. This collaboration between two leading global miners with two of the world&#39;s largest haul truck manufacturers seeks to address the critical challenge of achieving zero-emissions haulage in the mining sector.
Even though electrification is the most efficient and cost-effective solution to reduce the use of fossil diesel in mining fleet and equipment, Rio Tinto does not expect mass deployment of battery electric haul trucks at its operations to be technically or commercially feasible before 2030.
In the meantime, Rio Tinto intends to explore other avenues like biofuels to reduce diesel-sourced emissions. In June 2023, its Boron operation in California fully transitioned its heavy machinery from fossil diesel to renewable diesel. It is the first open pit mine in the world to achieve this feat.&nbsp; The company expects to replicate this at its Kennecott copper operation in Utah this year. It is also investigating the usage of biofuels in scenarios where electrification may be challenging to implement.
<h2>RIO&#39;s Price Performance &amp; Zacks Rank</h2>
In a year, shares of Rio Tinto have gained 2.2% against the industry&#39;s 2.8% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b0/78685.jpg?v=1692237515" />
Image Source: Zacks Investment Research
Rio Tinto currently has a Zacks Rank #3 (Hold).
<a href="https://www.zacks.com/stock/news/2339414/rio-to-test-biofuel-crop-for-renewable-diesel-production-in-australia?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2339414">To read this article on Zacks.com click here.</a>

Events

KMTUY

RIO to Test Biofuel Crop for Renewable Diesel Production in Australia

Investors with a lot of money to spend have taken a bullish stance on Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with RIO, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 14 options trades for Rio Tinto.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $26,620, and 13, calls, for a total amount of $952,701.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $75.0 for Rio Tinto over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Rio Tinto's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Rio Tinto's significant trades, within a strike price range of $60.0 to $75.0, over the past month.
<h3>Rio Tinto 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726776162_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>RIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$3.5</td>
<td>$3.4</td>
<td>$3.4</td>
<td>$62.50</td>
<td>$166.6K</td>
<td>1.8K</td>
<td>1.2K</td>
</tr>
<tr>
<td>RIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$3.5</td>
<td>$3.4</td>
<td>$3.4</td>
<td>$62.50</td>
<td>$166.6K</td>
<td>1.8K</td>
<td>730</td>
</tr>
<tr>
<td>RIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$5.6</td>
<td>$5.5</td>
<td>$5.6</td>
<td>$60.00</td>
<td>$127.7K</td>
<td>1.1K</td>
<td>234</td>
</tr>
<tr>
<td>RIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$6.0</td>
<td>$5.5</td>
<td>$6.0</td>
<td>$67.50</td>
<td>$109.8K</td>
<td>514</td>
<td>183</td>
</tr>
<tr>
<td>RIO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$4.5</td>
<td>$3.2</td>
<td>$4.5</td>
<td>$62.50</td>
<td>$90.0K</td>
<td>339</td>
<td>202</td>
</tr>
</tbody>
</table>

<h3>About Rio Tinto</h3>
Rio Tinto is a global diversified miner. Iron ore is the dominant commodity, with significantly lesser contributions from copper, aluminum, diamonds, gold, and industrial minerals. The 1995 merger of RTZ and CRA, via a dual-listed structure, created the present-day company. The two operate as a single business entity, with shareholders in each company having equivalent economic and voting rights. Major assets included the Pilbara iron ore operations, a 30% stake in the Escondida copper mine, 66%-ownership of the Oyu Tolgoi copper mine in Mongolia, the Weipa and Gove bauxite mines in Australia, and six hydro-powered aluminum smelters in Canada.
After a thorough review of the options trading surrounding Rio Tinto, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Rio Tinto Standing Right Now?</h3>
<ul>
<li>With a volume of 4,121,363, the price of RIO is up 3.45% at $65.08. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 153 days.</li>
</ul>
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Options

Market Whales and Their Recent Bets on RIO Options

ACHR

AZUL

BEEM

CENX

EVTL

FLNC

GTLS

JCSE

JOBY

KALU

LICY

MVST

NRGV

PLUG

RKLB

RYAAY

SKIL

SPXC

STLD

TORO

Shares of companies in the broader industrial space are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

Shares of copper stocks are trading higher amid a rise in the metal's price after the Fed cut rates by 50 basis points at the FOMC yesterday.

Update On Rio Tinto Before Earnings

Rio Tinto to acquire Arcadium Lithium for $6.7B in all-cash deal

Biggest stock movers today: Arcadium Lithium, Chinese stock names

Commodity Roundup: BMI ups zinc price forecast to $2,700/t, says copper to hold up amid China optimism

Morgan Stanley analyst Rahul Anand assigned a Buy rating on Rio Tinto (RIO – Research Report) today and set a price target of p6,200.00. Rahul Anan...

Buy Rating for Rio Tinto on Strategic Arcadium Lithium Acquisition and Positive Financial Outlook

Biggest stock movers today: ALTM, HELE, DK, Chinese stock names and more

Nuclear News - Vistra, Constellation Energy, Denison Mines

UBS analyst Myles Allsop maintained a Hold rating on Rio Tinto (RIO – Research Report) today and set a price target of £52.50. The company's shares...

Rio Tinto (RIO) Receives a Hold from UBS

In a report released today, Chris LaFemina from Jefferies maintained a Buy rating on Rio Tinto (RIO – Research Report), with a price target of £64....

Rio Tinto (RIO): New Buy Recommendation for This Basic Materials Giant

Arcadium Lithium surges on Rio Tinto takeover but deal not seen as bargain

ARLTF

BWXT

COPX

CPER

FMST

FMSTW

FUTU

HUYA

LAAC

MNSO

MSFT

OCFT

RTNTF

RTPPF

SGML

Opinion

Press Releases

Mining Sector Prepares Ahead of 1,500% Surge in Lithium Demand by 2050

Domestic Mining Development Crucial as Copper Demand Skyrockets: Experts Say

Copper Price Set to Rebound Amid Supply Shortages and EV Demand Surge, Miners Respond

Iron Ore's Price Collapse Threatens Mining Operations

Rio Tinto Buys Arcadium Lithium For $6.7 Billion

ARREF

ATLX

CSE:JKS

CSE:YMC

LISMF

LUNMF

TSX:ARG

TSX:LUN

TSXV:LIS

TSXV:SLI

TSXV:USHA

USHAF

Jefferies

Comp Vale Do Rio

Comments

Rio Tinto

Actualités

Dernières nouvelles pour Rio Tinto (NYSE:RIO) Stock

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