Goldman Sachs Sticks to Its Hold Rating for Rio Tinto (RIO)

In a report released today, Matt Greene from Goldman Sachs maintained a Hold rating on Rio Tinto, with a price target of £76.00.

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Greene covers the Basic Materials sector, focusing on stocks such as Rio Tinto, Glencore, and Antofagasta. According to TipRanks, Greene has an average return of 10.6% and a 53.33% success rate on recommended stocks.

In a report released today, Citi also maintained a Hold rating on the stock with a £72.00 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.