RBC Capital Keeps Their Hold Rating on Rio Tinto (RIO)
In a report released today, Ben Davis from RBC Capital maintained a Hold rating on Rio Tinto, with a price target of £64.00.
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According to TipRanks, Davis is a 5-star analyst with an average return of 31.7% and a 74.16% success rate. Davis covers the Basic Materials sector, focusing on stocks such as Rio Tinto, Antofagasta, and Sibanye Stillwater.
Currently, the analyst consensus on Rio Tinto is a Hold with an average price target of p6,877.72.
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.
Read More on GB:RIO:
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- Rio Tinto price target raised to 7,200 GBp from 7,000 GBp at Citi
- Rio Tinto drawing interest for U.S. boron assets, Bloomberg says
