Rio Tinto Ltd (ASX: RIO) has enjoyed a strong run over the past 12 months, with its shares now trading around $180.44.

That raises a question for investors looking beyond the recent momentum.

Would I still buy Rio Tinto shares with the intention of holding them for years?

The valuation still looks reasonable

According to CommSec, analysts expect earnings per share of $12.07 in FY26 and $12.04 in FY27.

Those forecasts point to virtually no earnings growth over the next year. At the current share price, Rio Tinto is trading on a PE ratio of around 15 times forecast earnings in both years.

I think that remains a reasonable price for the quality and scale of the assets Rio Tinto owns.

Mining profits will always move around with commodity prices, so I would not expect earnings to always climb every year. I am more interested in whether the company is investing today in assets that can produce valuable commodities for decades. I think Rio Tinto is making progress on that front.

There is also a solid income component. Consensus forecasts estimate fully franked dividends of $6.63 per share in FY26 and $6.62 in FY27.

Again, there is little growth implied in those forecasts, but investors are still being paid while several major projects develop.

Copper could change the business over time

Copper is the part of Rio Tinto that makes me most positive about the longer-term outlook.

Oyu Tolgoi in Mongolia is already ramping up strongly. Copper production from the operation increased 31% in the first half of 2026, and Rio Tinto says the ramp-up remains on schedule.

The scale it is heading towards is substantial. Rio Tinto expects the open pit and underground operations at Oyu Tolgoi to produce around 500,000 tonnes of copper annually on average between 2028 and 2036. The company expects it to become the world’s fourth-largest copper mine by 2030.

For me, this is a good example of why the flat FY26 and FY27 earnings forecasts do not tell the whole story.

The investment case stretches much further than the next couple of financial years.

Rio Tinto is also progressing other potential copper projects, including Resolution in the US and Winu in Western Australia.

Demand should have plenty of support as more copper is required for electricity networks, renewable energy, industrial development, and other forms of electrification.

If Rio Tinto can bring more high-quality supply into that market, copper could become an increasingly important source of value for shareholders.

There is more happening across the portfolio

I also like that Rio Tinto has several major projects capable of changing its production base over time.

Oyu Tolgoi is one. Simandou is another, adding a new source of high-grade iron ore from Guinea. The company has also expanded substantially into lithium.

In the first half of 2026, copper, aluminium, and lithium together contributed more than half of Rio Tinto’s underlying EBITDA.

That tells me the company is already becoming less dependent on any single commodity than investors may have traditionally associated with Rio Tinto.

Foolish takeaway

Yes, I think Rio Tinto shares remain a good buy and hold pick at around $180.44.

The near-term earnings forecasts are flat, and investors should always expect commodity prices to cause some volatility.

For me, the longer-term opportunity carries more weight. Around 15 times forecast earnings still looks reasonable, while Oyu Tolgoi and Rio Tinto’s wider copper pipeline give the company a strong avenue for growth beyond FY27.

I would be comfortable buying the shares today and giving that opportunity several years to develop.

The post Are Rio Tinto shares a good buy and hold pick? appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino 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.

BHP Group Ltd (ASX: BHP) shares are climbing higher into the green again in Tuesday morning trade.

At the time of writing, the shares are up around 1% and changing hands for a new all-time high of $67.88 a piece.

Today’s increase means the ASX mining giant’s shares have now jumped around 13% over the past month alone and up 48% for the year-to-date.

For context, at the time of writing, the S&P/ASX 200 Index (ASX: XJO) is up around 3% over the past month and around 5% higher for the year-to-date.

The latest rally is supported by the miner’s record FY26 earnings results, which it posted to the ASX a week ago. 

The group posted a strong operational performance across all its key segments and an impressive 27% increase in its underlying EBITDA. 

Investors were clearly thrilled with the results and many are rushing to buy the mining shares before they climb even higher.

So, if I bought $6,000 of BHP shares 12 months ago, what would it be worth today?

BHP shares were trading at $43.14 this time last year, and have climbed around 56% higher to the time of writing.

That means a $6,000 investment in the mining giant 12 months ago would be worth a huge $9.360 today!

Can the miner’s shares keep climbing higher?

After a strong rally through 2026 so far, it looks like BHP shares have now reached a ceiling. In fact, some think that the stock is now trading above fair value and could be due a correction.

Market Index data shows that the majority of brokers have a hold rating on the mining shares. But the $61.78 average target price implies a 9% downside ahead.

TradingView data shows something similar. Again the majority (13 out of 23) have a hold rating on BHP shares, but another six have a strong buy rating and four rate the stock as a sell/strong sell.

The average $62.68 target price now implies a potential 8% downside ahead over the next 12 months. But the range between the maximum and the minimum is huge.

Some think the shares have the potential to fall 36% to $43.72, at the time of writing. Meanwhile, more bearish analysts think BHP shares could jump 35% higher to $91.71 within the next 12 months. 

John Athanasiou from Red Leaf Securities has a hold rating on BHP shares following the FY26 results announcement last week. He said that the quality of BHP’s asset base, balance sheet and diversified portfolio leaves existing shareholders with little reason to sell. But, after a solid run, he said investors may be better off waiting for a more attractive entry point.

Morgan Stanley renewed its buy rating on BHP shares after the miner’s FY26 report and increased its 12-month price target to $67.50.

Elsewhere, Morgans has a trim rating and lowered its 12-month price target to $55.30. The broker said the share price already factors in more upside.

The post $6,000 invested in BHP shares 12 months ago is now worth…. appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has positions in BHP Group. 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 recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Coles Group Ltd (ASX: COL), Ramelius Resources Ltd (ASX: RMS), and Woodside Energy Group Ltd (ASX: WDS) shares are turning heads today.

In late morning trade on Tuesday, all three of the high-profile ASX shares are outpacing the 0.5% gains posted by the S&P/ASX 200 Index (ASX: XJO) at this time.

Here’s what’s catching investor interest.

Woodside shares jump on profit growth

Woodside shares are up 2.5% at the time of writing, changing hands for $34.28 apiece.

This strong performance follows the release of the ASX 200 energy stock’s half-year results (H1 2026).

Highlights for the six months included a 13% year-on-year increase in operating revenue to US$7.45 billion. And the company’s free cash flow was up 159% to US$352 million.

On the bottom line, Woodside achieved a 27% increase in net profit after tax (NPAT) to US$1.67 billion.

This saw management declare a fully-franked interim dividend of 57 US cents per Woodside share.

On the growth project front, Woodside’s Scarborough is 98% complete and on track for first LNG cargo in Q4 2026. Its Trion project is 64% complete, while the Louisiana LNG project is 28% complete.

Woodside ended the half with liquidity of US$8.19 billion.

Ramelius Resources shares lift on gold resource increase

Like Woodside shares, Ramelius Resources shares are marching higher, up 1% at $4.05 each.

This comes after the ASX 200 gold stock reported a 79% increase in its Ore Reserves to 4.3 million ounces of gold. The miner’s Mineral Resources increased by 17% to 14 million ounces.

Ramelius credited the boost to its FY 2026 exploratory drilling campaign, which added 1.8 million ounces of new discovery gold at an average cost of $55 per ounce.

The lift was primarily delivered by the maiden 1.6-million-ounce Ore Reserve at Ramelius’ Never Never underground project, as well as 260,000 ounces at its Roe underground project.

Which brings us to…

Coles shares edge higher on dividend boost

Joining Ramelius Resources and Woodside shares in turning heads today, we find Coles.

Shares in the ASX 200 supermarket giant are up 0.6% at the time of writing, trading for $22.78 apiece.

This follows the release of Coles’ FY 2026 results.

Highlights for the financial year include a 2.8% year-on-year increase in sales revenue to $45.58 billion. Earnings before interest and tax (EBIT) of $2.32 billion (excluding significant items) were up 9.9%.

On the bottom line, Coles achieved a 13.7% year-on-year increase in net profit after tax (NPAT) to $1.26 billion (excluding significant items).

This saw management declare a 37-cent per share fully-franked final dividend, up 15% from last year’s final payout.

If you want to bank the final Coles dividend, you’ll need to own shares at market close on 2 September. Coles shares trade ex-dividend on 3 September.

The post Why is everyone talking about Coles, Ramelius Resources and Woodside shares on Tuesday? appeared first on The Motley Fool Australia.

More reading

• How many Coles shares do I need to buy for $5,000 a year in passive income?
• Coles Group grows profit and dividend as Supermarkets shine in FY26
• Woodside Energy half-year results: US$1,672 million profit and 57 US cents dividend
• Ramelius Resources share price on watch amid 79% surge in Ore Reserves
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Bernd Struben 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.