5 Best Silver and Copper Stocks to Buy for the EV Transition

2. Rio Tinto Group (NYSE:RIO)

Short % of Shares Outstanding: 0.72%

Rio Tinto Group (NYSE: RIO) attracted renewed analyst support on May 26 when JPMorgan analyst Dominic O’Kane raised the firm’s price target on the mining giant to 8,280 GBp from 7,200 GBp while maintaining a Neutral rating. The increase reflects a more constructive outlook on the company’s earnings potential and asset portfolio, particularly as demand for key industrial and energy-transition commodities remains resilient across global markets.

Earlier in the month, on May 15, Deutsche Bank analyst Liam Fitzpatrick also increased his price target on Rio Tinto to 6,900 GBp from 6,200 GBp while maintaining a Hold rating. This further highlights improving sentiment toward the company and underscores confidence in its ability to navigate commodity market fluctuations while benefiting from long-term structural demand trends. Although both firms retained relatively cautious ratings, the upward revisions suggest expectations for stronger value creation than previously anticipated.

Rio Tinto Group was founded in 1873 and is headquartered in London, United Kingdom. The company produces iron ore, copper, aluminum, lithium, and nickel. Many of these materials play a critical role in the global transition toward cleaner energy systems, electric vehicles, battery storage technologies, and modern infrastructure.