10 Best Mineral Stocks to Buy Right Now

5. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 29

Rio Tinto Group (NYSE:RIO) is a global mining company with operations spread across Australia, North and South America, and Africa. Through large-scale mining, refining, and processing facilities, the company specializes in the production of iron ore, aluminum, copper, and other minerals.

During the fourth quarter of 2024, Rio Tinto Group (NYSE:RIO) produced 86.5 million tons of iron ore and its shipments totaling 85.7 million tons. This marked a slight decrease of 1% year-over-year due to site depletion and the transition to the Western Range mine. Meanwhile, copper output reached 202,000 tons (26% YoY increase) owing to the ramp-up at Oyu Tolgoi and higher grades at Escondida.

Historically, Rio Tinto Group (NYSE:RIO)’s stock has experienced highly fluctuating returns, ranging from an 18% gain in 2022 to an 11% gain in 2023 and a 15% decline in 2024. However, despite historical volatility, Rio Tinto Group’s stock gained 5% in 2025 in comparison to the broader market’s return of 3%, which makes it one of the best material stocks on our list.

Moving forward, the company plans to produce 60,000 tons of battery-grade lithium carbonate annually by 2028. This will be done through Rio Tinto Group (NYSE:RIO)’s $2.5 billion investment in Argentina’s Rincon lithium project. In October 2024, the company acquired Arcadium Lithium for $6.7 billion, making Rio Tinto the world’s third-largest lithium miner. Falling prices of lithium due to slowing EV demand and oversupply from China might raise concerns in the short term. However, the company’s diversified portfolio and strategic investments have positioned it for long-term growth.