Rio Tinto: UBS adjusts TP

(CercleFinance.com) - UBS maintains its Neutral rating on the share, while trimming its target price to 5250 pence (from 5300 pence).


Iron ore and aluminum are performing as expected and key projects (including Simandou) are on track, UBS says.

Rio Tinto has agreed to acquire Arcadium Lithium for $6.7bn in cash.

The acquisition will enable Rio Tinto to integrate the global operations of Arcadium, a major lithium producer with an annual capacity of 75,000 tonnes lithium carbonate equivalent, doubling by 2028.


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