UBS Sticks to Its Hold Rating for Rio Tinto (RIO)

In a report released today, Myles Allsop from UBS maintained a Hold rating on Rio Tinto, with a price target of p6,900.00.

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Allsop covers the Basic Materials sector, focusing on stocks such as Anglo American, Rio Tinto, and Southern Copper. According to TipRanks, Allsop has an average return of 23.2% and a 70.81% success rate on recommended stocks.

Rio Tinto has an analyst consensus of Hold, with a price target consensus of p6,862.69.

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.