In a report released today, Paul McTaggart from Citi maintained a Buy rating on Rio Tinto Limited (RTNTF – Research Report), with a price target of A$139.00. The company’s shares closed last Tuesday at $85.05.
McTaggart covers the Basic Materials sector, focusing on stocks such as BHP Group Ltd, Iluka Resources Limited, and Bluescope Steel Limited. According to TipRanks, McTaggart has an average return of 12.8% and a 57.32% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Rio Tinto Limited with a $97.54 average price target, a 14.69% upside from current levels. In a report released today, Morgan Stanley also maintained a Buy rating on the stock with a A$145.00 price target.
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The company has a one-year high of $94.30 and a one-year low of $65.05. Currently, Rio Tinto Limited has an average volume of 632.
Based on the recent corporate insider activity of 25 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.
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Rio Tinto Limited (RTNTF) Company Description:
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.
