London, Feb 24, 2026, 08:01 GMT — Regular session
- Rio Tinto ended Monday at 7,162 pence, gaining 0.6%.
- Goldman Sachs knocked the miner down to neutral, slashing its price target to 74 pounds.
- Copper and iron ore prices are drawing investor attention ahead of the March 5 ex-dividend date.
Rio Tinto shares approach Tuesday’s session under pressure after a new broker downgrade—this on top of an already hefty rally.
Rio stands squarely where copper scarcity meets the ongoing iron ore debate. Investors can reprice that blend in a hurry, particularly as costs edge higher and copper grabs a bigger share of earnings. The stock tends to react fast.
Rio Tinto settled at 7,162 pence on Monday, rising 0.6% for the session. The shares have hovered close to their 52-week high of 7,421 pence in recent weeks, pricing data show.
Goldman Sachs cut Rio Tinto to “neutral” from “buy” and dropped its 12-month price target to 74 pounds per share, according to a note reported by Investing.com. Investing.com
Rio revealed that Ben Wyatt, a person discharging managerial responsibility, picked up 100 Rio Tinto Limited shares on Feb. 23, according to a filing.
The downgrade comes just days after Rio highlighted rising costs for its Pilbara iron ore division in 2026. Still, stronger copper production and prices provided some offset to softer iron ore numbers, and the miner announced a final dividend of 254 U.S. cents per share. “A good result, perhaps as not as impressive as BHP,” said Andy Forster at Argo Investments at the time. Reuters
Copper’s the main macro mover here. London copper futures ended Monday at $12,868.50 a metric ton—still showing a 59% jump from their April 2025 low, as Reuters’ Clyde Russell noted. He highlighted factors like U.S. stockpiling, supply hiccups, and long-term electrification demand.
Iron ore is still the company’s earnings engine, though it’s looking more like a mature play now. As Russell pointed out, Singapore Exchange iron ore contracts settled at $98.46 a ton on Monday. Prices are feeling the squeeze from weaker Chinese steel production and more supply hitting the market.
Peers have been making their own moves. BHP has dialed up its focus on copper, and Rio Tinto’s effort to pursue a merger with Glencore fizzled on price, pushing Rio to depend more on internal projects and picking the right assets to rebalance.
Still, there are obvious pitfalls: copper might drift lower than its January high, China’s appetite could leave iron ore stuck, and rising Pilbara costs may bite into margins—even if output holds steady.
Income investors are eyeing March 5, when the stock goes ex-dividend for the final payout. Shareholders on record by March 6 will see payments hit their accounts on April 16.
Looking ahead, Rio has set its annual general meetings for May 6, according to the company. Anyone aiming to nominate directors outside board recommendations faces a March 2 cutoff.
Now, attention shifts to whether the broker cut will trigger more selling once London is in full swing. After that, traders are eyeing March 5, the ex-dividend date — a mechanical drag on the share price equal to the payout.
