Argus Raises its Price Target on Rio Tinto (RIO) to $120

On April 28, 2026, Argus raised its terms people connected Rio Tinto Group (NYSE:RIO) to $120 from $115 and maintained a Buy rating. The steadfast said Rio Tinto has improved its operating show and equilibrium expanse successful caller years done outgo cuts and noncore plus sales, portion continuing to instrumentality currency to shareholders done dividends. Argus besides said the institution is progressively positioning for aboriginal cleanable vigor request done lithium improvement projects and acquisitions.

Similarly, Bernstein raised its terms people connected Rio Tinto Group (NYSE:RIO) to $83.50 from $82 and maintained an Outperform rating. The steadfast noted that aluminum prices person climbed to their second-highest levels connected record, approaching the peaks seen during the 2022 Russia-Ukraine War.

On April 20, 2026, Rio Tinto reported that first-quarter robust ore accumulation roseate 12% twelvemonth implicit year, portion alumina accumulation accrued 6%. CEO Simon Trott said copper-equivalent accumulation roseate 9% arsenic the Oyu Tolgoi Mine continues ramping up and the company’s aluminum concern delivered different beardown quarter.

Trott besides said Rio achieved a historical onshore speech astatine the Resolution Copper Project and is moving toward the adjacent improvement signifier of what it described arsenic 1 of the world’s largest untapped copper deposits. He added that the institution has already implemented the archetypal $650M successful annualized productivity benefits, with further ratio gains underway.

Rio Tinto Group (NYSE:RIO) explores, mines, and processes mineral resources globally, with operations spanning robust ore, aluminum, lithium, copper, gold, silver, molybdenum, and different minerals.

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