RBC upgraded Rio Tinto stock to Sector Perform at GBp 6,500

Rio Tinto (GB0007188757) received an RBC rating upgrade to Sector Perform, while the broker cut its price target from GBp 6,600 to GBp 6,500 on October 6, 2026, according to Proactive. The revision gives investors a more cautious valuation marker as the miner enters its next operating update.

RBC lowered the target

RBC moved the rating from Underperform to Sector Perform while reducing the target by GBp 100.00, a 1.52 percent cut from GBp 6,600.00, the same October 6, 2026 report said.

MarketBeat separately reported on October 7, 2026, that Deutsche Bank reaffirmed a Hold rating and kept a GBp 7,400.00 target for Rio Tinto, according to MarketBeat. The contrasting targets point to a valuation debate rather than a single analyst view.

Cash flow rose 75.00 percent

Rio Tinto reported underlying EBITDA of USD 14.8 billion for the first half of 2026, up 28.00 percent from the comparable period, while free cash flow rose 75.00 percent, according to the company's half-year earnings call transcript dated July 29, 2026, published by Yahoo Finance.

The stronger cash generation supported an interim dividend of USD 3.4 billion, up 43.00 percent. Management also said productivity benefits reached USD 870.0 million by the end of June, with a year-end run-rate target of USD 1.8 billion.

Bell Bay runs through 2031

Rio Tinto, the Tasmanian Government and the Australian Government agreed on September 30, 2026, to secure Bell Bay Aluminium operations through December 31, 2031, as Business Wire reported. The smelter produces about 190,000 tonnes of aluminium annually, adding operating visibility to Rio Tinto's aluminium portfolio.

LSE reference remains separate

On the LSE, Rio Tinto closed at GBp 7,164.00 on October 6, 2026. The LSE listing trades under ticker RIO.L and ISIN GB0007188757, while the company operates across iron ore, aluminium, copper and lithium.

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