|Bid||4,885.00 x 0|
|Ask||4,885.00 x 0|
|Day's range||4,822.00 - 4,925.00|
|52-week range||4,354.00 - 6,343.00|
|Beta (5Y monthly)||0.64|
|PE ratio (TTM)||5.46|
|Earnings date||27 Jul 2022|
|Forward dividend & yield||5.28 (10.74%)|
|Ex-dividend date||11 Aug 2022|
|1y target est||55.59|
Good performance from mining stocks drove the FTSE up.
Rio Tinto’s plan to take direct ownership of a giant copper mine in Mongolia has suffered a set back after its $2.7bn buyout proposal was rejected. Turquoise Hill Resources said a special committee had “terminated” its review of Rio’s C$34 ($26) per share cash offer, saying it did not “fully and fairly reflect” the value of its holding in Oyu Tolgoi. “A transaction at the price proposed by Rio Tinto would not fairly compensate minority shareholders for the fundamental, long-term value of the company’s interest in Oyu Tolgoi,” said Maryse Saint-Laurent, chair of the special committee.
LONDON, August 15, 2022--Rio Tinto notes the Turquoise Hill announcement today indicating that the Turquoise Hill Special Committee has terminated its review of Rio Tinto’s non-binding proposal to acquire full ownership of Turquoise Hill for C$34 in cash per Turquoise Hill share (the "Proposed Transaction").