Rio Tinto Group (NYSE:RIO) is a leading global mining company known for its extensive operations in iron ore, aluminum, copper, and other minerals. The company is a major player in the mining industry, competing with giants like BHP and Vale. On February 22, 2026, Goldman Sachs downgraded RIO from a Buy to a Neutral rating, with the stock priced at $97.09 at the time.
Despite the downgrade, Rio Tinto has shown significant growth in its iron ore production. In the fourth quarter of 2025, the company increased its Pilbara iron ore shipments by 7%, reaching 91.3 million tons. This growth is notable given the weather-related disruptions earlier in the year. The Pilbara iron ore production also rose by 4% to 89.7 million tons.
The Gudai-Darri project has been a key driver of this robust performance, achieving a record run rate of 51 million tonnes per annum. Rio Tinto is also advancing its Rhodes Ridge and Simandou projects, aiming for 40-50 million tons and commissioning in Guinea, respectively. These projects underscore the company's strategic focus on enhancing its product mix and expanding production capabilities.
Currently, RIO's stock price on the NYSE is $97.09, reflecting a 0.78% increase or $0.75. The stock has traded between $95.66 and $97.62 today. Over the past year, RIO has seen a high of $100.33 and a low of $51.67. The company's market capitalization is approximately $157.68 billion, with a trading volume of 3,426,364 shares.
