Rio Tinto (RIO) Upgraded to Buy by Erste Group on Copper Growth Outlook

Rio Tinto Group (NYSE:RIO) ranks among the best undervalued European stocks to buy now. On January 23, Erste Group upgraded Rio Tinto Group (NYSE:RIO) from Hold to Buy, noting the mining company’s superior return on equity compared to its competitors. According to analyst Hans Engel, Rio Tinto’s sales would grow more strongly in 2026 than the year before, with copper production in Mongolia providing an “important contribution” towards this expansion.

The firm stated that silver production will rise in tandem with copper production, bolstering the company’s growth prospects. Rio Tinto Group (NYSE:RIO) also met its 2025 production targets for all commodities, with copper output reaching 883,000 tonnes, beating the upper end of the company’s projection range of 875,000 tonnes.

In addition, the company produced record quarterly iron ore output in Western Australia’s Pilbara region during the fourth quarter, up 4% from the same period in 2024.

Rio Tinto Group (NYSE:RIO) explores, mines, and processes mineral resources. Its operations are divided into the following business segments: Copper, Iron Ore, Aluminium, and Minerals.