Rio Tinto stock: Berenberg keeps Buy on Rio Tinto stock at GBP 87.00

Published on 10/19/2026 at 15:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rio Tinto lifted copper output 29 percent year to date on October 14, 2026. Rio Tinto stock costs EUR 79.97 on October 19, 2026.

Berenberg target and operations

On October 15, 2026, Berenberg maintained its Buy rating and set a GBP 87.00 target.
Rio Tinto reported copper production up 29 percent year to date in its third quarter review.
Rio Tinto stock costs EUR 79.97 at Lang & Schwarz on October 19, 2026 at 3:41 p.m. CEST.
Rio Tinto had a GBP 109.1 billion market capitalization and a P/E ratio of 12.12.

Isometrische 3D-Grafik der Bergbau-Wertschöpfungskette von Tagebau bis Frachtschiff — Rio Tinto plc (ISIN GB0007188757) durchläuft eine Wertschöpfungskette von Abbau bis Verschiffung, isometrisch dargestellt, Illustration mit AI erstellt.

Rio Tinto (ISIN GB0007188757) was assigned a GBP 87.00 price target by Berenberg on October 15, 2026, with the target 29.64 percent above the LSE price of GBP 67.11. Markets Insider reported that analyst Richard Hatch maintained a Buy rating and set the target. Rio Tinto was trading at EUR 79.97 at Lang & Schwarz on October 19, 2026 at 3:41 p.m. CEST.

Operations add copper momentum

Rio Tinto's third quarter review dated October 14, 2026 said copper production increased 29 percent year to date, while the Oyu Tolgoi operation was running at a 450,000-ton annualized rate during the quarter. The company also said global iron ore sales were up 3 percent year to date. These operating figures give the analyst target a current production reference. Rio Tinto published the review and production materials.

Price position and valuation

On the LSE, Rio Tinto last traded at GBp 6,711 on October 19, 2026 at 2:59 p.m. London time. The 52-week range was GBp 5,054 to GBp 9,117, placing the stock 26.40 percent below its high and 32.78 percent above its low. Trading volume reached 522,752 shares against an average of 2,724,645 shares. The London quote carried a P/E ratio of 12.12 and a dividend yield of 5.00 percent.

Rio Tinto's market capitalization was GBP 109.1 billion on October 19, 2026. The analyst target of GBP 87.00 is expressed in the same currency as the London share price, while the euro quotation provides the market view for investors in Germany.

Comparison with peers

Figures below are dated October 19, 2026.
Rio Tinto (LSE, GBP): minus 0.06 percent, P/E 12.12, market capitalization GBP 109.1 billion
BHP Group (LSE, GBP): minus 1.89 percent, P/E 21.88, market capitalization GBP 158.0 billion
Glencore (LSE, GBP): minus 3.31 percent, P/E 16.89, market capitalization GBP 66.1 billion

Trading position remains central

Rio Tinto's latest operating update and the recent analyst target place attention on copper output, iron ore sales and the valuation gap to larger mining peers. The company had also reported on October 14, 2026 that third quarter copper production was higher year to date. The next scheduled reporting date is not included here because the company calendar does not provide a dated event in the cited material.

The further course of trading is shown by the continuously updated real-time quote of Rio Tinto stock.