Editor’s Note: Related tickers: Rio Tinto plc (LON:RIO), InterContinental Hotels Group PLC (LON:IHG), Morgan Stanley (NYSE:MS), Deutsche Bank AG (NYSE:DB), Antofagasta plc (LON:ANTO), BHP Billiton plc (LON:BLT), MAN GROUP PLC ORD USD0.03428571 (LON:EMG)
Rio Tinto plc (LON:RIO) is primarily an iron ore producer. The bulk of Rio’s operations are in Australia and North America but the company does have a global footprint. Concerns over economic growth in China and likely future demand for iron ore has seen the shares lose 14.5% so far in 2013. This has led the analyst community to reduce its profit expectations. This time last year, consensus estimates were for earnings per share (EPS) of $8.45 in 2013. Today, the broker community is forecasting just $5.75 of profit per share. …With operations targeting steel production (iron ore, coking coal and manganese) along with a considerable energy portfolio, BHP Billiton plc (LON:BLT) is the most diverse of the three companies. BHP also has most of its operations in Australia, the US and Chile. As such, it is less exposed to political risk than Anglo American. However, this has not prevented the shares falling almost 15% so far in 2013. Like Rio, profit expectations have declined sharply in the last 12 months. This time last year, City analysts had pencilled in $4.00 of earnings per share for 2013. Today, that figure has come down to an expected $2.55.
Rio Tinto Rating Reiterated by Jefferies Group (RIO) (MideastTime)
Jefferies Group reissued their buy rating on shares of Rio Tinto plc (LON:RIO) in a report released on Tuesday, AnalystRatings.Net reports. Jefferies Group currently has a GBX 4,100 ($63.50) target price on the stock. Several other analysts have also recently commented on the stock. Analysts at Jefferies International reiterated a buy rating on shares of Rio Tinto plc (LON:RIO) in a research note to investors on Tuesday. Separately, analysts at Nomura reiterated a buy rating on shares of Rio Tinto plc (LON:RIO) in a research note to investors on Monday. They now have a GBX 3,700 ($57.30) price target on the stock. Finally, analysts at Citigroup reiterated a buy rating on shares of Rio Tinto plc (LON:RIO) in a research note to investors on Friday, April 26th. They now have a GBX 4,000 ($61.95) price target on the stock.
Copper Production Up 13% At Antofagasta Plc (Fool)
Shares of the Chilean-based copper miner Antofagasta plc (LON:ANTO) jumped almost 3% to around 937p during early London trading this morning, after it reported that copper production for Q1 2013 rose by almost 13%, weighing in at just over 183,000 tonnes. The increase was largely due to higher plant throughput at its Esperanza mine, up some 17,000 tonnes on Q1 2012, and despite a reduction in output at its Los Pelambres mine, due to scheduled maintenance. Production of Molybdenum and Gold were both down slightly compared to the Q4 2012 production figures, coming in at 2,600 tonnes and 86,200 ounces respectively.
Antofagasta’s Underweight Rating Reaffirmed at Morgan Stanley (ANTO) (MideastTime)
Antofagasta plc (LON:ANTO)‘s stock had its “underweight” rating reaffirmed by research analysts at Morgan Stanley (NYSE:MS) in a report released on Wednesday, Analyst Ratings.Net reports. They currently have a GBX 880 ($13.63) target price on the stock. Shares of Antofagasta plc (LON:ANTO) traded down 0.33% during mid-day trading on Wednesday, hitting GBX 894.50. Antofagasta has a one year low of GBX 859.16 and a one year high of GBX 1392.00. The stock’s 50-day moving average is currently GBX 1231.. The company’s market cap is £8.819 billion. Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Antofagasta plc (LON:ANTO) in a research note to investors on Wednesday.
BHP Billiton Receives “Outperform” Rating from Macquarie (BLT) (DailyPolitical)
Macquarie reiterated their outperform rating on shares of BHP Billiton plc (LON:BLT) in a research note issued to investors on Tuesday, AnalystRatingsNetwork reports. The firm currently has a GBX 2,175 ($33.68) target price on the stock. Shares of BHP Billiton plc (LON:BLT) traded down 0.45% during mid-day trading on Tuesday, hitting GBX 1782.00. BHP Billiton has a one year low of GBX 1622.1639 and a one year high of GBX 2251.50. The stock’s 50-day moving average is currently GBX 1926.. The company’s market cap is £94.820 billion.
BHP Billiton Given “Buy” Rating at Deutsche Bank (BLT) (MideastTime)
BHP Billiton plc (LON:BLT)‘s stock had its “buy” rating restated by analysts at Deutsche Bank AG (NYSE:DB) in a research report issued to clients and investors on Thursday, Analyst Ratings Network.com reports. They currently have a GBX 2,334 ($36.15) price target on the stock. Several other analysts have also recently commented on the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of BHP Billiton in a research note to investors on Tuesday. They now have a GBX 2,550 ($39.49) price target on the stock. Separately, analysts at Jefferies International reiterated a “buy” rating on shares of BHP Billiton plc (LON:BLT) in a research note to investors on Tuesday…
InterContinental Hotels Group PLC : IHG signs agreement for first Holiday Inn in Mauritius (4-Traders)
InterContinental Hotels Group PLC (LON:IHG) the world’s largest hotel group by number of rooms, has signed a new franchise agreement with Airport Hotel Limited that will see the Old Manor House at Plaisance Airport become Holiday Inn Mauritius – Plaisance Airport. The 140 room property will be the first Holiday Inn to open in Mauritius and will join IHG’s InterContinental Resort Mauritius which opened in 2009. The agreement is a response to the need for a hotel at the airport driven by the ongoing growth of the tourism market in Mauritius. The country has seen a three-fold increase in passenger traffic since 1990.
InterContinental Hotels Group Receives Buy Rating from Investec (IHG) (UtahPeoplesPost)
Investec reiterated their buy rating on shares of InterContinental Hotels Group PLC (LON:IHG) in a research report sent to investors on Tuesday morning, Stock Ratings Network.com reports. The firm currently has a GBX 2,100 ($32.52) price target on the stock. InterContinental Hotels Group PLC (LON:IHG) traded up 0.42% on Tuesday, hitting GBX 1920.0001. InterContinental Hotels Group PLC (LON:IHG) has a 1-year low of GBX 1483.929 and a 1-year high of GBX 2053.00. The stock’s 50-day moving average is currently GBX 1630.. The company’s market cap is £5.117 billion.
Man Group CEO Considers Stock Buyback After Redeeming Debt (BusinessWeek)
MAN GROUP PLC ORD USD0.03428571 (LON:EMG), the world’s biggest publicly traded hedge fund manager, said it may buy back shares or pay a special dividend as it tries to reduce its $920 million of surplus capital. The stock jumped. The company plans to repurchase all outstanding debt to reduce surplus capital by as much as $470 million, leaving it with about $450 million by January 2014, MAN GROUP PLC ORD USD0.03428571 (LON:EMG) said in a statement today. The firm may use the remaining surplus to “benefit” investors through stock buy-backs, special dividends or takeovers, Chief Executive Officer Emmanuel Roman said. “We will look at the three options and do what makes the most sense,” Roman, 49, told reporters on a conference call.
Man Group funds under management slip 3.8% (MarketWatch)
MAN GROUP PLC ORD USD0.03428571 (LON:EMG) Friday reported a 3.8% fall in funds under management for the first quarter of 2013 and said it intends to call or redeem, with cash, all tier 1 hybrid, tier 2 and senior debt securities, leading to total annualized pre-tax interest and coupon savings of up to $78 million from 2014. …Redemptions will be slightly accretive to earnings per share after upfront costs in 2013. -Relative to the Group’s capital position pro forma for CRD IV, redemptions will result in a reduction in surplus capital of up to $470 million giving pro forma surplus capital at Jan. 1, 2014 of at least $450 million.
