Rio Tinto Limited (RTNTF): New Sell Recommendation for This Basic Materials Giant

Morgans analyst Adrian Prendergast downgraded Rio Tinto Limited to a Sell today and set a price target of A$117.00. The company’s shares closed today at $82.25.

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According to TipRanks, Prendergast is a 4-star analyst with an average return of 13.9% and a 57.07% success rate. Prendergast covers the Energy sector, focusing on stocks such as Santos Limited, Beach Energy , and Amplitude Energy.

Rio Tinto Limited has an analyst consensus of Moderate Buy, with a price target consensus of $81.99.

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.