Rio Tinto (RIO) Receives a Hold from Deutsche Bank

In a report released today, Liam Fitzpatrick from Deutsche Bank maintained a Hold rating on Rio Tinto, with a price target of £53.00. The company’s shares opened today at p5,135.00.

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Fitzpatrick covers the Basic Materials sector, focusing on stocks such as Rio Tinto, BHP Group Ltd, and Glencore. According to TipRanks, Fitzpatrick has an average return of 9.6% and a 58.54% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Rio Tinto with a p5,536.75 average price target, implying a 7.82% upside from current levels. In a report released today, Berenberg Bank also maintained a Hold rating on the stock with a £52.00 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.