0020 GMT - Rio Tinto ended 2025 on a positive note, RBC Capital Markets analyst Kaan Peker says in a note. "Rio Tinto follows BHP with a very strong end of the year with guidance met or exceeded in all areas," says Peker. Output beat consensus and RBC expectations in all key areas except for a small 1% miss in aluminum, he says. It is a particularly strong result from Rio's iron-ore operations, which recovered the majority of production losses from cyclones earlier in the year, Peker says. He says realized prices are in line with expectations, although it is unclear whether a $758 million revenue boost from provisional pricing impacts is captured by consensus estimates. RBC has a sector perform rating and A$134.00 target on Rio's Australian shares. Shares are up 1.7% in Sydney at A$148.89. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

January 20, 2026 19:20 ET (00:20 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.