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Rio Tinto (RIO) shares were up about 3% in Thursday trading after Berenberg upgraded the stock to buy from hold and raised its price target to $113 from $107.Trading volume stood at more than 2.2 million shares, compared with a daily average of roughly 2.7 million.Price: $96.53, Change: $+2.87, Percent Change: +3.06%
Rio Tinto's (RIO) US stock has an average rating of overweight and mean price target of $107.42, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Rio Tinto (RIO) has entered a commercial agreement with Cymat Technologies to transfer Rio Tinto Alcan's aluminum metal matrix composites, or MMC, customers to Cymat as Rio Tinto exits the business, Cymat said Tuesday.Under the agreement, Cymat will pay Rio Tinto Alcan $750 per metric ton of MMC sold or used for five years, up to a maximum of $500,000.MMC is a ceramic particle-infused aluminum used primarily in the automotive and rail industries for lightweight, wear-resistant components. Cymat already uses the material as the primary input for its stabilized aluminum foam products, the company said.Shares of Rio Tinto were up 2% in Tuesday trading.Price: $90.88, Change: $+1.81, Percent Change: +2.03%
European equities traded in the US as American depositary receipts were rising on Wednesday morning, increasing 0.7% to 1,905.92 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by budget airline Ryanair (RYAAY) and health technology company Philips (PHG), which rose 3.9% and 3.8% respectively. They were followed by pharmaceutical giant Novo Nordisk (NVO) and healthcare firm Grifols (GRFS), which added 2.9% and 2.4%.The decliners from continental Europe were led by technology company Nokia (NOK) and bank BBVA (BBVA), which fell 4.7% and 1.1% respectively.From the UK and Ireland, the gainers were led by medical laboratory company Trinity Biotech (TRIB) and advertising and PR agency WPP (WPP), which rose 5.9% and 3.1% respectively. They were followed by hospitality group InterContinental Hotels (IHG), which added 1.1%.The decliners from the UK and Ireland were led by telecom giant Vodafone (VOD), which shed 2.5%, and mining company Rio Tinto (RIO), which decreased 0.6%.
(Update with Vitol's response to a request for comment in the last paragraph.)Rio Tinto (RIO) is in talks with Vitol Group about a potential joint venture that could help cut freight and logistics costs, Bloomberg reported Thursday, citing people familiar with the matter.It is not clear what the size and range of a potential joint venture would be, but one area being discussed is how Vitol could help Rio with risk management tools for freight, including derivative trading within its freight and logistics operations, the people reportedly said.Vitol declined to comment, while Rio didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $95.34, Change: $+1.31, Percent Change: +1.39%
Rio Tinto (RIO) is in talks with Vitol Group about a potential joint venture that could help cut freight and logistics costs, Bloomberg reported Thursday, citing people familiar with the matter.It is not clear what the size and range of a potential joint venture would be, but one area being discussed is how Vitol could help Rio with risk management tools for freight, including derivative trading within its freight and logistics operations, the people reportedly said.Rio and Vitol didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $95.11, Change: $+1.08, Percent Change: +1.14%
Rio Tinto in Talks With Vitol on Freight and Logistics Joint Venture Bloomberg Reports
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were slightly higher pre-bell Wednesday as traders awaited the Federal Reserve's rate decision, the first under new chairman Kevin Warsh.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.5% higher.The Fed will deliver its latest policy decision at 2 p.m., and Warsh will hold his first press conference at 2:30 p.m. Markets expect the central bank to keep interest rates unchanged at a target range of 3.5% to 3.75%.Elon Musk's Space Exploration Technologies (SPCX), known as SpaceX, continued its post-IPO rally for the third straight day after its record-setting initial public offering on Friday, gaining 2.2% in pre-market activity.President Donald Trump said at the G7 conference that the proposed US-Iran memorandum of understanding, set to be formalized in Geneva on Friday, is "not final" and warned that the US will "go right back to dropping bombs" if he doesn't like the deal.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.9% at $79.69 per barrel and US West Texas Intermediate crude 0.8% higher at $76.66 per barrel.US retail sales rose by 0.9% in May, above the expected figure of 0.6% in a survey compiled by Bloomberg and following the previous month's 0.4% gain.Pending home sales for May, scheduled for release at 10 am ET, are expected to be up 0.9% after a gain of 1.4% in the prior month. The Atlanta Fed Business Inflation Expectations survey for June is also expected at 10 am ET.In other world markets, Japan's Nikkei closed 0.7% higher, Hong Kong's Hang Seng ended 0.7% lower, and China's Shanghai Composite finished 0.4% higher. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.2% lower in Europe's early afternoon session.In equities, Intel (INTC) shares rose 3.7% after a CNBC report that the company has begun risk production of its most advanced chip node, 18A-P, bringing the company closer to a potential deal to manufacture chips for Apple (AAPL). Applied Materials (AMAT) stock was up 4.3% after the company and EssilorLuxottica said they have struck a long-term joint development agreement to advance augmented reality optics platforms for smart glasses. CarMax (KMX) shares were up 1.8% after the company reported fiscal Q1 net income and net sales that surpassed analysts' consensus.On the losing side, BHP (BHP) and Rio Tinto (RIO) shares were down 0.9% and 2.5%, respectively, after a Bloomberg report that the two companies see India as the next major growth engine for global steelmaking, expected to help offset slowing growth in China.
Rio Tinto (RIO) shares were down over 3% in Wednesday trading after RBC Capital Markets downgraded the stock to underperform from sector perform.Trading volume stood at more than 1.9 million shares, compared with a daily average of close to 2.8 million.Price: $108.09, Change: $-3.59, Percent Change: -3.21%
Rio Tinto's (RIO) London stock has an average rating of overweight and mean price target of GBP74.49, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Rio Tinto (RIO) said Friday it has begun commissioning its $1.5 billion AP60 smelter expansion at the Complexe Arvida facility in Quebec.The startup process began in March and is expected to finish by the end of 2026, when all 96 new smelting pots will be operational, the company said.The expansion will add about 160,000 metric tonnes of primary aluminum annually for a total of 220,000 metric tonnes produced with AP60 technology.Rio Tinto said the technology generates significantly lower greenhouse gas emissions than industry averages and is expected to reduce fine particulate matter emissions by up to 90%.Price: $107.16, Change: $+0.69, Percent Change: +0.65%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target price to USD112 from USD110, implying an EV/EBITDA of 7.43x our 2026 estimate. This premium valuation is supported by growth from key projects and Rio Tinto's (RIO) strategic focus on copper and aluminum, aligning it with long-term decarbonization trends. RIO's solid Q1 2026 results reinforce our long-term view. RIO demonstrated portfolio resilience by increasing copper equivalent production by 9% Y/Y despite weather disruptions. Key growth projects are advancing as planned; the Oyu Tolgoi ramp-up is boosting copper output, and the Simandou iron ore project realized its first sales in April. This progress, along with achieving its USD650 million productivity target, confirms strong execution. A robust price environment for copper and aluminum provides a significant tailwind, offsetting a more stable iron ore market and validating RIO's diversification strategy. We forecast 2026 EPS of USD7.74 and 2027 EPS at USD8.17, supported by a strong metals outlook.
Labrador Iron Ore Royalty (LIF.TO), down 1.8% on last look, said Tuesday the Iron Ore Company of Canada (IOC), majority-owned by Rio Tinto (RIO), had total saleable iron-ore production of 3.44-million tonnes in the first quarter, made up of 1.72-million tonnes of pellets and 1.72-million tonnes of concentrate for sale (CFS).Labrador Iron Ore, which has a 15.1% equity stake in IOC, notes it reported total iron ore sales in the first quarter of 3.29 million tonnes, comprised of 2.14 million tonnes of pellets and 1.15 million tonnes of CFS.IOC's 2026 sales guidance (pellets and CFS) of between 15 million tonnes to 18 million tonnes was maintained.Labrador Iron Ore will release its first quarter results after the market close on May 4.Labrador Iron Ore shares were last seen down $0.51, to $28.20, on the Toronto Stock Exchange.Price: $28.20, Change: $-0.51, Percent Change: -1.78%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Rio Tinto delivered solid Q1 2026 performance with 9% copper equivalent production growth despite weather challenges. Iron ore production reached 78.8Mt (up 13%) with strong performance, though sales growth was constrained to 2% at 72.4Mt due to tropical cyclones disrupting shipments by ~8Mt. We believe the diversified portfolio demonstrated resilience and scale advantages, with Oyu Tolgoi copper surging 56% to 102kt and Simandou achieving its first full shipment milestone. Management maintained 2026 guidance despite weather impacts, reflecting confidence in operational execution. The company successfully implemented the full USD650M of productivity benefits and completed the Resolution Copper land exchange, with drilling now underway at one of the world's largest untapped copper deposits. We expect continued strength from aluminum operations and Oyu Tolgoi's ramp-up toward 500kt annual production from 2028-2036, though two workplace fatalities underscore management's renewed safety focus.
