UBS Reaffirms Their Hold Rating on Rio Tinto (RIO)

UBS analyst Myles Allsop maintained a Hold rating on Rio Tinto today and set a price target of £52.00. The company’s shares opened today at p4,981.00.

Elevate Your Investing Strategy:

• Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

According to TipRanks, Allsop is a 5-star analyst with an average return of 22.6% and a 71.24% success rate. Allsop covers the Basic Materials sector, focusing on stocks such as Anglo American, Rio Tinto, and South32.

Rio Tinto has an analyst consensus of Moderate Buy, with a price target consensus of p5,494.64, which is a 10.31% upside from current levels. In a report released today, Jefferies also maintained a Hold rating on the stock with a £50.00 price target.

Based on Rio Tinto’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of p26.87 billion and a net profit of p4.53 billion. In comparison, last year the company earned a revenue of p26.8 billion and had a net profit of p5.81 billion

Based on the recent corporate insider activity of 47 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.