|rio tinto alcan stock price||1.56||0.1||728||34|
22 Wall Street analysts have issued 1-year price targets for Rio Tinto's shares. Their forecasts range from $55.23 to $57.00. On average, they anticipate Rio Tinto's stock price to reach $56.10 in the next year. This suggests a possible upside of 7.5% from the stock's current price.Why did Rio Tinto pay 65% for Alcan?
In 2007 Rio Tinto’s new CEO Albanese got a bidding war with Vale and Alcoa and ended up paying a 65% premium for Alcan. Dick Evans, former CEO of Alcan, says in the WSJ that the decision to buy was the “. . . worst decisions ever, the largest metals and mining transaction in the history of the world at the high point in the commodity cycle.”What happened to Rio Tinto's aluminum business?
China entered the aluminum industry in a big way, flooding the market with cheap metal. The financial crisis was right around the corner, a great time to have cash on hand but Rio Tinto was now tapped. The company was now focussed on managing debt rather than making deals.What does Rio Tinto PLC ADR do?
Rio Tinto PLC ADR. Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade.