Macquarie Remains a Hold on Rio Tinto Limited (RTNTF)

In a report released today, Robert Stein from Macquarie maintained a Hold rating on Rio Tinto Limited, with a price target of A$115.00. The company’s shares closed today at $82.25.

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.

Stein covers the Basic Materials sector, focusing on stocks such as Iluka Resources Limited, Mineral Resources Limited, and Rio Tinto Limited. According to TipRanks, Stein has an average return of 3.2% and a 55.49% success rate on recommended stocks.

In addition to Macquarie, Rio Tinto Limited also received a Hold from Citi’s Paul McTaggart in a report issued today. However, on the same day, Bernstein maintained a Buy rating on Rio Tinto Limited (Other OTC: RTNTF).

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.