Rio Tinto stock: Berenberg keeps Buy rating at GBp 8,700 target

Published on 10/21/2026 at 15:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter sales reached 90.80 million tonnes on October 14. Rio Tinto stock costs EUR 78.46 on October 21, 2026, up 0.23 percent versus Xetra close.

Analyst target and operations

Berenberg kept its Buy rating and GBp 8,700 target on October 15, 2026.
Third-quarter iron ore sales reached 90.80 million tonnes, up 3.00 percent year over year.
Rio Tinto stock costs EUR 78.46 at Lang & Schwarz on October 21, 2026 at 3:07 p.m. CEST, 0.23 percent above the Xetra close of October 20, 2026.
Rio Tinto is scheduled to publish fourth-quarter 2026 operating results on January 19, 2027.

Eisenerz-Tagebau mit gelben Muldenkippern auf Serpentinenstraßen im roten Gestein — Rio Tinto plc (ISIN GB0007188757) fördert Eisenerz in riesigen Tagebauminen mit schweren Muldenkippern, Illustration mit AI erstellt.

Rio Tinto (ISIN GB0007188757) has a GBp 8,700 Berenberg target behind its latest investor debate, 32.72 percent above the London price of GBp 6,555.00. MarketScreener reported on October 15, 2026 that Berenberg analyst Richard Hatch kept a Buy rating and an unchanged GBp 8,700 target. Rio Tinto was trading at EUR 78.46 at Lang & Schwarz on October 21, 2026 at 3:07 p.m. CEST, up 0.23 percent versus the Xetra close of October 20, 2026 at EUR 78.28.

Iron ore sales set the tone

Rio Tinto's third-quarter operating update dated October 14, 2026 delivered the clearest operating comparison. According to Rio Tinto, global iron ore sales reached 90.80 million tonnes, up 3.00 percent from the third quarter of 2025. Pilbara sales rose 2.00 percent to 85.70 million tonnes, while consolidated copper production was 205,000 tonnes, unchanged year over year.

The same release maintained 2026 guidance of 800,000 to 870,000 tonnes for consolidated copper production and 323 million to 338 million tonnes for Pilbara iron ore sales. The update also put Oyu Tolgoi copper production 27.00 percent above the prior-year quarter and 29.00 percent higher for the first nine months of 2026.

How does the valuation compare?

Rio Tinto's London price was GBp 6,555.00 on October 21, 2026 at 2:12 p.m. London time, while the 52-week range stood at GBp 5,084.00 to GBp 9,117.00. The stock was 28.10 percent below its 52-week high. Its price-to-earnings ratio was 11.92 and its dividend yield was 5.00 percent.

Comparison with peers

Rio Tinto (LSE, GBp): up 0.23 percent, price-to-earnings ratio 11.92. BHP Group (LSE, GBp): up 0.36 percent, price-to-earnings ratio 21.33. Glencore (LSE, GBp): up 1.47 percent, price-to-earnings ratio 16.78.

Next reporting date

MarketScreener's calendar lists January 19, 2027 as the publication date for Rio Tinto's fourth-quarter 2026 operating results. That date gives investors the next scheduled checkpoint after the October production update.

What the target means

Berenberg's GBp 8,700 target sits 32.72 percent above the London price, using the October 21, 2026 quote of GBp 6,555.00. The contrast is material: the target implies more upside than the 0.23 percent daily gain visible in the euro quotation.

Rio Tinto stock price

Rio Tinto was trading at EUR 78.46 at Lang & Schwarz on October 21, 2026 at 3:07 p.m. CEST, 0.23 percent above the Xetra close of October 20, 2026 at EUR 78.28. The London listing was at GBp 6,555.00 on October 21, 2026 at 2:12 p.m. London time.

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