Morgan Stanley Keeps Their Hold Rating on Rio Tinto (RIO)

In a report released today, Alain Gabriel from Morgan Stanley maintained a Hold rating on Rio Tinto, with a price target of £63.30.

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Gabriel covers the Basic Materials sector, focusing on stocks such as Endeavour Mining, FRESNILLO, and Rio Tinto. According to TipRanks, Gabriel has an average return of 14.9% and a 63.89% success rate on recommended stocks.

In a report released on March 20, J.P. Morgan also maintained a Hold rating on the stock with a £70.30 price target.

Based on Rio Tinto’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of p30.91 billion and a net profit of p5.46 billion. In comparison, last year the company earned a revenue of p26.86 billion and had a net profit of p5.74 billion

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RIO in relation to earlier this year.