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Rio Tinto (RIO) Gets a Hold Rating from Jefferies

In a report issued on March 2, Chris LaFemina from Jefferies maintained a Hold rating on Rio Tinto (RIOResearch Report), with a price target of $86.00. The company’s shares closed last Friday at $81.88.

According to TipRanks.com, LaFemina is a 4-star analyst with an average return of 7.9% and a 55.2% success rate. LaFemina covers the Basic Materials sector, focusing on stocks such as Fortescue Metals Group Ltd, First Quantum Minerals, and Peabody Energy Comm.

Currently, the analyst consensus on Rio Tinto is a Hold with an average price target of $86.00.

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Based on Rio Tinto’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $0. In comparison, last year the company had a net profit of $0.

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Founded in 1873, UK-based Rio Tinto Plc is engaged in the exploration, mining, and processing of mineral resources in over 35 countries. It produces iron ore for steel, aluminium for cars and smart phones, copper for wind turbines, diamonds. It has four product groups, including Iron Ore, Aluminium, Copper and Diamonds, and Energy and Minerals.

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