Rio Tinto's Q3 iron ore output rises 2%, but shares dip amid rising costs and mixed copper results

Rio Tinto reported a 2% increase in Q3 iron ore production, supported by strong Pilbara shipments, maintaining its full-year guidance. Copper output at Oyu Tolgoi surged 27%, balancing weaker results at Escondida and disruptions at Kennecott. However, rising diesel costs and a stronger Australian dollar could raise Pilbara operational costs by about $694 million annually. Despite these factors, shares have fallen nearly 10%, with limited upside seen from normalized EBITDA valuations, leading to a neutral rating on the stock.

Rio Tinto shares are trading at USD 81.89 on Pluang, down 1.63% as of Oct 31, 2026 18:11 WIB. The stock shows strong investor interest with 100% buy orders and a dividend yield of 5.68%.