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Rio gets fresh buy recommendation on results release

February 09, 2012 - 12:02 GMT Location: London

KEYWORDS: Rio Tinto , Liberum , buy , results , aluminium , stocks

Analysts at Liberum Capital have given Rio Tinto’s stocks a fresh buy recommendation following the release of the company’s results for the full year 2011 on Thursday February 9.

Rio’s underlying earnings were in line with expectations at $15.5 billion, Liberum said, but net earnings were hit by an $8.9 billion write down in the aluminium division. Furthermore, Rio’s yield is now back in line with BHP Billiton at 2.5%, after a 34% increase in the full year dividend, the analysts said in a morning note. “[The] $8.9bn write-down on the aluminium division has resulted in net earnings of $5.8bn, 59%...

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