Buy, hold, sell: Woodside, Rio Tinto, NAB shares

S&P/ASX 200 Index (ASX: XJO) shares fell 0.24% to close at 8,604.2 points yesterday.

Let’s take a look at some new ratings on three ASX 200 shares from experts on The Bull this week.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price finished 0.58% higher at $31.09 yesterday.

Mark Gardner from MPC Markets has a buy rating on this ASX 200 energy share.

Gardner said: 

The company remains leveraged to LNG demand from Asia. The Scarborough Energy project is reportedly 96 per cent complete and on track for first LNG cargoes in the fourth quarter of 2026.

Energy prices remain volatile, but gas continues to play an important role in regional energy security.

In our view, the market isn’t fully pricing in the production uplift from Woodside’s major growth projects.

The dividend has been under pressure, but the balance sheet and asset base remain appealing for investors seeking energy exposure.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price closed 1.81% lower at $181.23 on Tuesday.

Rio Tinto shares have been on a rollercoaster over the past week.

The ASX 200 iron ore mining share rose to a record high of $195.84 last Wednesday.

Then on Thursday and Friday, iron ore stocks tumbled after a big production rise at the giant Simandou mine in Africa.

That’s not as big a problem for Rio Tinto, given it’s a part-owner of Simandou.

But the mine is bringing significant new supply onto the market at a time when demand is already weakening.

That has implications for the iron ore price, which directly impacts miners’ earnings.

The iron ore price has already dropped more than 9% over the past month.

Damien Nguyen from Morgans puts a hold rating on Rio Tinto shares this week.

Nguyen said: 

Rio Tinto is a world class diversified miner with high quality iron ore, aluminium and copper assets generating solid cash and consistent shareholder returns.

Iron ore earnings remain central to the investment case, but are sensitive to Chinese property and infrastructure activity, which continues to face near term headwinds.

Copper and lithium assets provide structural growth exposure.

The balance sheet is strong and the dividend remains well-supported, making RIO a sound income holding.

However, with the near term earnings outlook balanced rather than clearly positive, we retain a hold recommendation.

National Australia Bank Ltd (ASX: NAB)

NAB shares finished 1.72% lower at $35.96, after hitting a new 52-week low of $35.48, on Tuesday.

Gardner has a sell rating on this ASX 200 bank share.

He explains: 

NAB remains a quality banking franchise, but the near term earnings outlook is under pressure.

The bank’s first half net profit in fiscal year 2026 missed analyst expectations, with bad debt provisions and one-off charges weighing on the result.

The dividend remains attractive, but valuation support looks less convincing if earnings momentum continues to soften.

In our view, the bank faces the challenges of margin pressure, higher credit risk and slower profit growth.

We prefer to reduce exposure and direct capital towards stronger growth opportunities elsewhere.

The post Buy, hold, sell: Woodside, Rio Tinto, NAB shares appeared first on The Motley Fool Australia.

More reading

• Here’s the dividend forecast out to 2028 for Woodside shares
• Why Woodside shares just got a big buy call
• Why these ASX blue-chip shares are strong buys right now
• Rio Tinto shares slump 7.5% from an all-time high: Buy, sell or hold?
• NAB shares sink to 52-week low, are they in the buy zone?

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.