Successful Financing: Rio2 has closed the financing of 86,094,750 subscription receipts, raising a total of C$191.1 million (approximately US$138 million), which will provide essential funding for the acquisition of the Condestable Mine, thereby enhancing the company's capital strength in the mining sector.
Acquisition Plan: The net proceeds from this financing will be allocated to cover the cash consideration for the Condestable Mine acquisition and for general corporate and working capital purposes, ensuring the company has sufficient funding for future mining expansions.
Market Response: The subscription receipts are set to begin trading on the Toronto Stock Exchange on December 15, 2026, which will increase the company's visibility in the capital markets and attract more investor interest.
Strategic Implications: Through this financing, Rio2 not only positions itself to complete the acquisition of the Condestable Mine but also secures funding for the development of its Fenix Gold Project, thereby driving overall growth and enhancing market competitiveness.
RIO
$75.82+Infinity%1D
Analyst Views on RIO
Wall Street analysts forecast RIO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RIO is 88.33 USD with a low forecast of 66.50 USD and a high forecast of 129.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
Wall Street analysts forecast RIO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RIO is 88.33 USD with a low forecast of 66.50 USD and a high forecast of 129.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 75.660
Low
66.50
Averages
88.33
High
129.50
Current: 75.660
Low
66.50
Averages
88.33
High
129.50
Argus
John Eade
Buy
maintain
$70 -> $85
2025-12-11
New
Reason
Argus
John Eade
Price Target
$70 -> $85
2025-12-11
New
maintain
Buy
Reason
Argus analyst John Eade raised the firm's price target on Rio Tinto to $85 from $70 and keeps a Buy rating on the shares. The company has strengthened its operating performance and balance sheet in recent years by cutting costs and selling noncore assets, the analyst tells investors in a research note. Rio Tinto is also starting to focus on future clean energy needs through the development of lithium projects and with an acquisition, the firm added.
Cantor Fitzgerald
Matthew O'Keefe
Buy
to
Hold
downgrade
$2.50
2025-12-09
Reason
Cantor Fitzgerald
Matthew O'Keefe
Price Target
$2.50
2025-12-09
downgrade
Buy
to
Hold
Reason
Cantor Fitzgerald analyst Matthew O'Keefe downgraded Rio2 Limited to Hold from Buy with an unchanged price target of C$2.50 after the company announced an agreement with Southern Peaks Mining to acquire its 99.1% interest in the Condestable copper mine located in Peru. The firm is "not overly enamoured with the deal" given the sparse details provided, "questionable timing" with Fenix not yet complete and the reduced leverage to precious metals it brings, the analyst tells investors.
JPMorgan
Dominic O'Kane
maintain
2025-12-03
Reason
JPMorgan
Dominic O'Kane
Price Target
2025-12-03
maintain
Reason
JPMorgan analyst Dominic O'Kane raised the firm's price target on Rio Tinto to 6,950 GBp from 6,100 GBp and keeps an Overweight rating on the shares.
Citi
Ephrem Ravi
Neutral
maintain
2025-11-17
Reason
Citi
Ephrem Ravi
Price Target
2025-11-17
maintain
Neutral
Reason
Citi analyst Ephrem Ravi raised the firm's price target on Rio Tinto to 5,700 GBp from 4,600 GBp and keeps a Neutral rating on the shares.
About RIO
Rio Tinto plc is a United Kingdom-based mining and materials company. It operates in over 35 countries, and its portfolio includes iron ore, copper, aluminum and a range of other minerals and materials. Its segments include Iron Ore, Aluminum, Copper, and Minerals. The Iron Ore segment includes iron ore mining and salt and gypsum production in Western Australia. Its iron ore operations in Pilbara comprise an integrated network of over 18 iron ore mines and four independent port terminals. The Aluminum segment includes bauxite mining, alumina refining, and aluminum smelting and recycling. The Copper segment includes mining and refining of copper, gold, silver, molybdenum, other by-products and licensing of extraction technologies. The Minerals segment includes mining and processing of borates, diamonds, iron concentrate and pellets from the Iron Ore Company of Canada, lithium and titanium dioxide feedstock.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
