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Macquarie Sticks to Its Hold Rating for Rio Tinto Limited (RTNTF)

In a report released today, Hayden Bairstow from Macquarie maintained a Hold rating on Rio Tinto Limited (RTNTFResearch Report), with a price target of A$121.00. The company’s shares closed yesterday at $89.17.

Bairstow covers the Basic Materials sector, focusing on stocks such as Pilbara Minerals Limited, Rio Tinto Limited, and Lynas Rare Earths Limited. According to TipRanks, Bairstow has an average return of 18.1% and a 69.29% success rate on recommended stocks.

Rio Tinto Limited has an analyst consensus of Hold, with a price target consensus of $82.08.

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Based on Rio Tinto Limited’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $0. In comparison, last year the company had a net profit of $0

Based on the recent corporate insider activity of 29 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 RTNTF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Rio Tinto Ltd. engages in finding, mining, and processing of mineral resources. It operates through the following segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations.The Copper and Diamonds segment produces gold, silver, molybdenum, and by-products. The Energy and Minerals segment offers uranium, borates, salt and titanium dioxide feedstock together with coal operations. The company was founded on December 17, 1959 and is headquartered in Melbourne, Australia.

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