Morgans Remains a Hold on Rio Tinto Limited (RTNTF)

Morgans analyst Adrian Prendergast maintained a Hold rating on Rio Tinto Limited today and set a price target of A$160.00.

Claim 55% Off TipRanks

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
• Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks

According to TipRanks, Prendergast is a 5-star analyst with an average return of 19.4% and a 60.28% success rate. Prendergast covers the Energy sector, focusing on stocks such as Amplitude Energy, Woodside Energy Group, and Santos Limited.

In addition to Morgans, Rio Tinto Limited also received a Hold from Morgan Stanley’s Alain Gabriel in a report issued on April 30. However, on April 22, J.P. Morgan maintained a Buy rating on Rio Tinto Limited (Other OTC: RTNTF).

Based on Rio Tinto Limited’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of A$31.33 billion and a net profit of A$5.54 billion. In comparison, last year the company earned a revenue of A$26.86 billion and had a net profit of A$5.74 billion

Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RTNTF in relation to earlier this year.