Rio Tinto Beats Q4 Expectations, Reaffirms 2017 Targets

Strong cash flows could lead to significant dividend hikes and share buybacks, underpinning a rally that has lifted shares by a third in the three months. Rio Tinto shares traded firmly lower in London Tuesday despite solid fourth quarter earnings from the world’s biggest seaborne iron ore exporter and a confirmation of its 2017 targets that set the stage for increased dividends and share buybacks.