• Citigroup maintains a Neutral rating for Rio Tinto Ltd (NYSE:RIO) and raises the price target, indicating a positive future performance.
• Rio Tinto is expected to increase its copper production by about 20% over the next three years, driven by the ramp-up at the Oyu Tolgoi mine.
• The company's strategic diversification efforts are anticipated to shift its earnings composition, reducing the contribution of iron ore to group earnings from 81% in 2023 to 48% by 2026.

Rio Tinto Ltd (NYSE:RIO) is a leading global mining group that focuses on finding, mining, and processing mineral resources. The company is known for its production of iron ore, aluminum, copper, diamonds, gold, and uranium. Rio Tinto competes with other major mining companies like BHP Group and Vale S.A. in the global market.

On November 17, 2025, Citigroup maintained its Neutral rating for RIO, recommending investors to hold the stock. At the time, the stock price was $70.51. Citi also raised the price target for Rio Tinto from 4,600 GBp to 5,700 GBp, as highlighted by TheFly. This indicates a positive outlook on the company's future performance.

Rio Tinto is expected to increase its copper production by about 20% over the next three years, according to Citi analysts. This growth is driven by the ramp-up at the Oyu Tolgoi mine, which will also enhance the production of gold and silver by-products. This increase in production is expected to reduce unit costs, with copper unit costs projected to be between $1.10 and $1.30 per pound.

Citi analysts anticipate a shift in Rio Tinto's earnings composition. The contribution of iron ore to group earnings is expected to decrease from 81% in 2023 to 48% by 2026. This reflects Rio Tinto's strategic diversification into copper and other commodities. The company is also focusing on its lithium project in Argentina, which will be a key topic at an upcoming capital markets day.

Currently, RIO's stock price is $70.49, showing a slight decrease of 0.20% from the previous day. The stock has traded between $70.28 and $71.29 today. Over the past year, RIO has seen a high of $73.76 and a low of $51.67. The company has a market capitalization of approximately $114.45 billion, with a trading volume of 1,638,478 shares today.