RBC upgrades Rio Tinto to Sector Perform on lithium growth and strong fundamentals

RBC Capital upgraded Rio Tinto to Sector Perform from Underperform, reflecting confidence in its lithium expansion and solid operational stability. The company is boosting lithium output to meet rising demand from electric vehicles and energy storage, while securing its Bell Bay Aluminium operations through 2031 with government support. Despite some lithium price pressures from softer Chinese EV demand and high inventories, Rio Tinto's strong balance sheet positions it well for future growth. The upgrade signals expected performance in line with the sector, not necessarily a stock price increase.

Rio Tinto trades at USD 94.40 on Pluang as of Oct 06, 2026 20:51 WIB, with a 1-day decline of 1.31%. Despite the recent downgrade in stock price, Pluang investors show full buying interest with 100% buy orders. The company's market cap stands at $154.70 billion, highlighting its significant presence in the Basic Materials sector amid the lithium expansion story.