Rio Tinto (RIO) Receives a Rating Update from a Top Analyst

Berenberg Bank analyst Richard Hatch maintained a Hold rating on Rio Tinto today and set a price target of £66.00.

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According to TipRanks, Hatch is a top 100 analyst with an average return of 27.8% and a 62.40% success rate. Hatch covers the Basic Materials sector, focusing on stocks such as Atalaya Mining, Ecora Royalties PLC, and Central Asia Metals.

The word on The Street in general, suggests a Hold analyst consensus rating for Rio Tinto with a p6,862.69 average 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 41 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.