Rio Tinto stock gained 1.47 percent on October 2 after strong results

Published on 10/05/2026 at 23:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rio Tinto stock posted US$31.0 billion revenue and US$6.66 billion net income in the first half of 2026. Berenberg lifted its target from GBp 8,600 to GBp 8,700 on September 30.

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) closed at GBp 7,056.00 on the LSE on October 2, 2026, up 1.47 percent. The move came as the mining group entered October with stronger first-half earnings and a fresh Berenberg price-target increase.

First-half profit rises 47 percent

Rio Tinto reported first-half 2026 revenue of US$31.0 billion, up 16 percent from US$26.9 billion in the first half of 2025, while net income rose 47 percent to US$6.66 billion from US$4.53 billion, according to Simply Wall St.

First-half earnings per share reached US$4.10, compared with US$2.79 in the prior-year period, and profit margin increased to 22 percent from 17 percent, the same results summary said. The comparison points to operating leverage across a portfolio that includes iron ore, copper, aluminum and lithium.

Rio Tinto said in its July 15, 2026, second-quarter operations release that copper-equivalent production increased 3 percent in the first half. The operating update keeps volume execution central to the earnings story as the company expands its exposure to energy-transition metals.

Analysts split around GBp 7,707

MarketBeat reported a consensus Hold rating from seven analysts on October 5, 2026, with five Hold ratings, one Sell rating and one Buy rating. The average one-year target stood at GBp 7,707.14, which is 9.2 percent above the October 2 closing price, according to MarketBeat.

Berenberg kept its Buy rating and lifted its target from GBp 8,600 to GBp 8,700 on September 30, 2026, as Finanzen reported. That target is 23.3 percent above the October 2 close, leaving a wider bullish view alongside the broader Hold consensus.

Stock stays below yearly high

Rio Tinto's GBp 7,056.00 close remained below the 52-week high of GBp 8,325.00 and above the 52-week low of GBp 4,899.00 on October 2, 2026. The stock was 15.2 percent below the high, while market capitalization stood at GBP 120.7 billion, according to Investing.com.

Rio Tinto stock closed at GBp 7,056

Rio Tinto stock closed at GBp 7,056.00 on the LSE on October 2, 2026, after the 1.47 percent session gain. The earnings comparison and the split analyst view leave copper-equivalent production, commodity prices and delivery against 2026 plans as the key numerical markers for the next update.