RBC Capital Reaffirms Their Hold Rating on Rio Tinto Limited (RTNTF)

RBC Capital analyst Kaan Peker maintained a Hold rating on Rio Tinto Limited on October 8. The company’s shares closed yesterday at $84.99.

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According to TipRanks, Peker is a 3-star analyst with an average return of 2.6% and a 51.67% success rate. Peker covers the Basic Materials sector, focusing on stocks such as Rio Tinto Limited, Sandfire Resources Limited, and Pilbara Minerals .

Currently, the analyst consensus on Rio Tinto Limited is a Moderate Buy with an average price target of $81.46, a -4.15% downside from current levels. In a report released yesterday, Macquarie also maintained a Hold rating on the stock with a A$115.00 price target.

Based on Rio Tinto Limited’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $26.87 billion and a net profit of $4.53 billion. In comparison, last year the company earned a revenue of $26.8 billion and had a net profit of $5.81 billion

Based on the recent corporate insider activity of 24 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.