NEW YORK, Jan 31, 2026, 06:06 EST — Market closed
- On Friday, Rio Tinto’s shares listed in the U.S. dropped roughly 4.3%.
- Gold, silver, and copper took a sharp hit, intensifying the sell-off in mining stocks.
- Investors enter a week marked by takeover-code filings and several important upcoming dates.
Shares of Rio Tinto slipped on Friday, with the miner’s U.S.-listed stock last seen at $91.03. That’s down $4.05, or roughly 4.3%, from the previous session’s close, according to market data.
Metals prices took a sharp turn lower heading into month-end. “The market thinks Kevin Warsh is rational and that he won’t push aggressively for rate cuts,” Tom Price noted, highlighting profit-taking after a crowded rally. Ole Hansen labeled the recent surge in gold and silver as “highly speculative,” while Ross Norman remarked that “precious metals have discovered gravity.” (Reuters)
Why it matters for Rio now: the company is stepping into a tangle of catalysts. Late Thursday, Rio and Aluminium Corporation of China (Chinalco) struck a deal to acquire control of Companhia Brasileira de Aluminio (CBA) for 4.69 billion reais ($903.61 million). The partners plan to launch a tender offer for the remaining shares, in line with local regulations. “I like it, it’s a very bullish signal,” said Baden Moore, highlighting how the deal aligns with Rio’s push into low-carbon aluminium. He also pointed out Rio is expected to announce a potential tie-up with Glencore by Feb. 5. (Reuters)
Rio Tinto shares closed Friday in London down 1.62% at 67.38 pounds, underperforming the stronger FTSE 100. The stock ended roughly 4% below its 52-week peak reached just a day before, with trading volume surpassing its recent average, MarketWatch reported. (MarketWatch)
Deal chatter has pulled takeover-rule details back into focus. A Form 8.3 filing from State Street Global Advisors & Affiliates, dated Jan. 30, revealed holdings of roughly 2.2% in Rio Tinto plc shares and about 7.5% in Rio Tinto Limited stock. The firm also flagged disclosures related to Glencore. (For context, a Form 8.3 is a UK Takeover Code filing required when investors hold 1% or more during an “offer period.”) (Investegate)
U.S. markets are closed for the weekend, leaving Rio’s early Monday session to hinge on macro factors: the dollar’s direction and copper futures following Friday’s reversal. Expect thin liquidity through mid-February, which could exaggerate price swings.
Rio remains fundamentally a commodities beta play. Iron ore drives its cash flow, while copper is closely watched as the company shifts toward “future-facing” metals, taking on heavyweights like BHP and Vale in the process.
The Brazil aluminium deal is a minor blip on Rio’s balance sheet, yet it introduces another angle investors are watching closely: capital discipline, portfolio adjustments, and just how aggressively management aims to prepare for lower-carbon supply chains.
The risk is straightforward and harsh. Should the metal pullback deepen—fueled by a stronger dollar or weaker demand cues from China—miners could face a double blow: falling commodity prices and a drop in risk appetite simultaneously.
The schedule is packed. A “Notice to ASX/LSE” from Jan. 8 pins Rio’s 2025 full-year results release on Feb. 19. The final dividend ex-dividend date for ordinary shares falls on March 5—that’s the first day shares trade without the upcoming dividend entitlement.
Traders are zeroing in on two key dates: Feb. 5, when any Glencore-related news could drop, and Feb. 19, when Rio reports annual results and announces dividends. Monday’s open will reveal if the metals selloff from Friday has more room to run.
