JPMorgan Lifts PT on Rio Tinto Group (RIO) Following Q1 Results

Rio Tinto Group (NYSE:RIO) is one of the best copper stocks to invest in now. JPMorgan lifted the price target on Rio Tinto Group (NYSE:RIO) to 7,200 GBp from 7,030 GBp on April 22, setting a Neutral rating on the shares. The rating update came after the company released production results for fiscal Q1 2026 on April 21, reporting that operating excellence drove 9% year-over-year copper equivalent production growth across its portfolio, with the Oyu Tolgoi copper mine continuing to ramp up according to plan. Rio Tinto Group’s (NYSE:RIO) integrated aluminium business also delivered a solid performance, and the company attained the historic land exchange at Resolution Copper, with its project team focused on the next phase of one of the world’s largest untapped copper deposits.

Rio Tinto Group (NYSE:RIO) further reported that copper production grew 9% year-over-year, driven by the continued successful ramp-up of Oyu Tolgoi, with drilling at Resolution underway after the completion of the land exchange in March. Iron ore yielded the second-highest fiscal Q1 Pilbara production since 2018, up 13% year-over-year, with sales up 2% year-over-year.

Rio Tinto Group (NYSE:RIO) explores, mines, and processes mineral resources. Its operations are divided into the following business segments: Copper, Iron Ore, Aluminium, and Minerals.

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