Rio Tinto PLC’s (NYSE:RIO) new chief executive assured to track superior worth for stockholders and slice costs following the Anglo-Australian miner reported its first complete year loss, affected by a steep decline in commodity prices and over US$14 billion in impairment costs that last month overthrown its previous boss.
Sam Walsh, the previous chief of Rio’s iron ore unit who got control from Tom Albanese past month, reported that he would only invest in businesses that provided a robust return and when it did not make more sense to payback money to stockholders.
Rio Tinto plc (ADR) (NYSE:RIO) shares in the current session moved down -0.19% reaching $58.26. The stocks are trading in a range of $57.75 – $58.34. In the last year the stock has moved within a range of $41.59 – $60.45. The current session’s volume of 499,007.00 shares is lower from their average daily trading volume of 2.13 million shares.
Alpha Natural Resources Inc.’s (NYSE:ANR) announced that fourth-quarter loss declared from the year-ago phase that was pushed down by a huge goodwill write-down, though coal revenue kept declining as the fuel carries on witnessing soft demand.
Shares of the company jumped up 3.7% premarket to $8.78 as the results topped Wall Street estimates. Through Wednesday’s session end, the stock was higher 17% over the previous quarter.
Alpha announced a quarterly loss of $127.6 million, or 58 cents per share, in contrast with a year-ago loss of $792.9 million, or $3.62 per share. The year-earlier phase counted an $802.3 million goodwill impairment cost.
Omitting write-down and restructuring costs and other items, the loss came in 19 cents per share, in contrast with a loss of nine cents a share in 2011 same quarter.
At the current trading session, Alpha Natural Resources Inc.’s (NYSE:ANR) shares are up +14.78% to $9.72 while the stocks are trading within the range of $9.05 – $9.74. In the past year, the stock has traded within a range of $5.28 – $21.19. The current session’s volume of 9.65 million shares is lower from their average daily trading volume of 14.63 million shares.
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