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

Published on 10/20/2026 at 15:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Iron ore sales reached 90.8 million tonnes in third quarter 2026. Rio Tinto stock costs EUR 78.16 on October 20, 2026 at 2:45 p.m. CEST.

Analyst target and operating figures

Berenberg maintained a Buy rating and a GBp 8,700 target on October 15, 2026.
Global iron ore sales rose 3.00 percent to 90.8 million tonnes in the third quarter of 2026.
Rio Tinto stock costs EUR 78.16 at Lang & Schwarz on October 20, 2026 at 2:45 p.m. CEST.
MarketScreener lists January 19, 2027 for fourth-quarter operating results.

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Rio Tinto (ISIN GB0007188757) is covered by a Buy rating from Berenberg, which kept its GBp 8,700 target unchanged on October 15, 2026, according to MarketScreener. At 2:45 p.m. CEST on October 20, 2026, Rio Tinto was trading at EUR 78.16 at Lang & Schwarz.

Third-quarter volumes show contrast

Rio Tinto reported 90.8 million tonnes of global iron ore sales in the third quarter of 2026, up 3.00 percent from the same quarter of 2025. The company also reported 205,000 tonnes of consolidated copper production, unchanged year over year, while Oyu Tolgoi copper production increased 27.00 percent year over year, according to Rio Tinto. Reuters reported that Pilbara iron ore sales reached 85.7 million tonnes and exceeded a Visible Alpha estimate of 84.41 million tonnes.

Price position on October 20

Rio Tinto last traded at GBp 6,511 on the London Stock Exchange on October 20, 2026 at 1:59 p.m. BST. Its 52-week range was GBp 5,054 to GBp 9,117 on the same date, placing the price 28.58 percent below the high and 28.83 percent above the low. The stock's price-to-earnings ratio was 11.84.

What does the target imply?

Berenberg's GBp 8,700 target stands 33.59 percent above the LSE price of GBp 6,511 on October 20, 2026. The same report kept its Buy rating unchanged. Rio Tinto's third-quarter release maintained 2026 guidance for consolidated copper production of 800,000 to 870,000 tonnes and global iron ore sales of 343 million to 366 million tonnes.

Dates and valuation

Rio Tinto's trailing dividend yield was 0.05 percent and its price-to-earnings ratio was 11.84 on October 20, 2026. MarketScreener lists January 19, 2027 for Rio Tinto's fourth-quarter 2026 operating results.

Stock and target in perspective

Berenberg's target gives the stock a 33.59 percent upside measured in the same pence currency as the London listing. The operating figures provide a mixed picture: iron ore sales grew 3.00 percent, while consolidated copper production was flat in the third quarter of 2026.