Is Rio Tinto's Rising Copper Output a Strong Signal for Future Growth?

Rio Tinto Group RIO delivered solid growth in copper production in the fourth quarter of 2025. Per the production results, the company’s consolidated copper output rose 5% year over year in the fourth quarter. Also, Rio Tinto’s total copper production reached 883 kiloton (kt) in 2025, up 11% on a year-over-year basis. The results were supported by the solid ramp-up at the Oyu Tolgoi site and strong performance at the Kennecott mine.

Rio Tinto is making steady progress across its growth pipeline. In December 2025, it achieved its first copper production at the Johnson Camp mine in Arizona using its proprietary Nuton technology. This marks a significant milestone for the company, as Nuton enables cleaner, faster and more efficient copper recovery at an industrial scale.

The Johnson Camp deployment involves designing and delivering a heap leach technology package aimed at producing around 30,000 tons of refined copper over a four-year demonstration period. Through the use of Nuton technology, Rio Tinto aims to produce copper with the lowest carbon footprint in the United States at the Johnson Camp.

Also, the company is actively collaborating with U.S. customers to strengthen the domestic copper supply. In 2026, the company expects its copper production to be 800-870 kt. Major growth projects, such as Oyu Tolgoi and Kennecott, are advancing steadily, positioning the company well for long-term growth.

Snapshot of RIO’s Peers

Among its major peers, Trilogy Metals Inc. TMQ continues to make steady progress at the Ambler mining district. Although Trilogy is not yet in production, it is taking a step ahead with Ambler Metals LLC, which is a joint venture with South32 Limited. In July 2025, Trilogy began a multi-year core re-boxing program to protect drill core for long-term future use.

USAR’s other peer, NioCorp Developments Ltd. NB, is working to move its Elk Creek Project in Nebraska closer to production. In August 2025, NioCorp completed its first drilling program at the Elk Creek Project on schedule and within budget. In February 2026, NioCorp started construction of the main underground access for its Elk Creek Critical Minerals Project in southeast Nebraska.

RIO's Price Performance, Valuation & Estimates

Shares of Rio Tinto have gained 40.8% in the past six months compared with the industry’s growth of 23.4%.

Image Source: Zacks Investment Research

From a valuation standpoint, RIO is trading at a forward price-to-earnings ratio of 10.80X, below the industry’s average of 13.86X. Rio Tinto carries a Value Score of A.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for RIO’s 2026 earnings has been on the rise over the past 60 days.

Image Source: Zacks Investment Research

Rio Tinto currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

5 Stocks Set to Double

Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Rio Tinto PLC (RIO): Free Stock Analysis Report

Trilogy Metals Inc. (TMQ): Free Stock Analysis Report

NioCorp Developments Ltd. (NB): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research