Rio Tinto ADR (RIO) Stock News

RBC Capital Mkts raised its rating on Rio Tinto (RIO) to Sector Perform from Underperform.

Rio Tinto upgraded to Sector Perform from Underperform at RBC.

RBC increased its Rio Tinto target to 6,500 pence from 6,100 pence.

Morgan Stanley views potential Rio Tinto infrastructure asset sales as incremental positive but insufficient to alter its underweight rating or materially improve shareholder returns. The bank cites stretched valuation, iron-ore headwinds, and limited copper growth beyond Oyu Tolgoi. Rio Tinto shares edged up 0.5% in Sydney.

Rio Tinto says a deal with Australian and Tasmanian governments and Hydro Tasmania secures its Bell Bay aluminium operations through 2031. Electricity supply from Hydro Tasmania runs to 31 December 2031. Governments provide additional support.

Rio Tinto said it is bolstering marketing to trade more commodities from other producers, though sales of its own metals remain the foundation. CEO Simon Trott first signaled the shift in May, citing value in a stronger commercial front end in a more volatile world. The move follows failed talks to buy Glencore, which has a large trading business. The company's emailed remarks were first reported by Bloomberg.

Rio Tinto said Thursday it is bolstering its marketing operations to trade more commodities from other producers, while keeping sales of its own metals at the core. The shift, first reported by Bloomberg, was signaled by CEO Simon Trott, who took the helm a year ago. Trott first suggested the change in May, following failed talks to buy Glencore, a miner with a large trading business that has profited from Middle East disruptions.