Rio Tinto Rating Maintained, Price Target Raised by Citigroup

Rio Tinto Rating Maintained, Price Target Raised by Citigroup

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Citigroup Maintains Neutral View on Rio Tinto, Boosts Price Target

Citigroup maintained its Neutral rating for Rio Tinto Ltd (NYSE:RIO) on Nov. 17, 2025, raising its price target for the mining company.

Rio Tinto is expected to increase copper production by approximately 20% over three years, driven by the Oyu Tolgoi mine. Analysts anticipate iron ore's contribution to earnings falling from 81% in 2023 to 48% by 2026, reflecting strategic diversification.

The price target was raised to 5,700 GBp from 4,600 GBp. Copper unit costs are projected between $1.10 and $1.30 per pound. The company is also focusing on its lithium project in Argentina.

Rio Tinto's stock (NYSE:RIO) traded at $70.49 on Nov. 17, 2025, down 0.20%. It holds a market capitalization of approximately $114.45 billion.

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