Rio Tinto Ltd (ASX: RIO) has had a strong run, but I still think there is a good reason to look at the shares today.

For me, the investment case is increasingly about what the business could look like several years from now.

At around $178.04, I would be happy to buy.

I am comfortable with the price

According to CommSec, consensus earnings per share forecasts stand at $12.07 in FY26 and $12.04 in FY27.

Clearly, analysts are not expecting much earnings growth in the near term.

But at the current share price, Rio Tinto is trading at just under 15 times forecast earnings. I think that is a reasonable multiple for a global miner with several major assets that could become increasingly important over the years ahead.

Mining earnings rarely move smoothly. Commodity prices can rise and fall considerably, so I would not expect Rio Tinto to deliver predictable annual growth like a software company.

Instead, I am interested in whether today’s investments can leave it producing more of the commodities the world needs in 5 or 10 years.

The business is gradually changing

Iron ore remains enormously important to Rio Tinto, but I think copper could become a much bigger part of how investors view the company.

Oyu Tolgoi in Mongolia is central to that opportunity.

The underground operation is still ramping up and is expected to turn Oyu Tolgoi into one of the world’s largest copper mines. That gives Rio Tinto a substantial source of additional production without needing copper prices alone to drive future growth.

I like the timing. Copper is needed across electricity grids, renewable energy, data centres, electric vehicles, and wider electrification. Developing major new mines can take many years, which could make high-quality existing and emerging supply increasingly valuable.

Rio Tinto also has other copper opportunities in its pipeline, giving the company more than one potential route to increase its exposure.

For me, this longer-term story is more important than whether earnings move slightly higher or lower between FY26 and FY27.

Investors are being paid along the way

There is also a healthy income component. Consensus forecasts are for fully-franked dividends of $6.64 per share in FY26 and $6.62 in FY27.

I think receiving substantial, fully-franked dividends while Rio Tinto develops its copper operations adds to the appeal of holding the shares patiently.

Of course, dividends from miners can move significantly with commodity prices and earnings, so I would never treat those forecasts as guaranteed.

Foolish takeaway

I think it is a good time to buy Rio Tinto shares.

The near-term growth forecasts are hardly exciting, but I do not think they capture the strongest part of the investment case.

At around 15 times forecast earnings, I believe investors are paying a reasonable price for a major global miner whose production mix could become increasingly attractive as copper’s importance grows.

I would be happy to buy Rio Tinto today and give that story several years to develop.

The post Is it a great time to buy Rio Tinto shares? 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.

Liontown Resources Ltd (ASX: LTR), Northern Star Resources Ltd (ASX: NST), and Telstra Group Ltd (ASX: TLS) shares are creating a stir today.

In morning trade on Monday, two of the big-name ASX shares are outperforming the S&P/ASX 200 Index (ASX: XJO) ‘s 0.2% losses at this time, while one is trailing.

Here’s what’s grabbing investor attention.

Telstra shares in the green amid board shakeup

Telstra shares are up 0.6% today, trading for $4.64 apiece.

Investors are tuning into the ASX 200 telco today after the company reported that Bridget Loudon-Harris will step down from the Telstra board on 13 October after six years as a director.

Loudon-Harris has served as a member of Telstra’s People and Remuneration Committee since October 2022.

Commenting on the positive impact Loudon-Harris has had in helping to support Telstra shares, chairman Craig Dunn said:

The board has benefited greatly from Bridget’s valuable insights and constructive challenge across strategy, disruption, AI, transformation and performance culture. Having an entrepreneur and digital native around the table has allowed us to bring a diverse and very important perspective to the board.

Liontown shares jump on record revenue

Like Telstra shares, Liontown shares are outperforming today, up 2.1% and changing hands for $1.22 apiece.

This follows the release of the ASX 200 lithium miner’s full-year FY 2026 results.

Over the year, Liontown produced 391,992 dry metric tonnes (dmt) and shipped 381,997 dmt of lithium concentrate at (5.1% Li₂O average grade).

And FY 2026 saw Liontown record its first-ever net profit after tax (NPAT), which came in at $93 million. The company reported record revenue of $639 million, up 114% from FY 2025.

Importantly, FY 2026 also saw Liontown transition its Kathleen Valley lithium project into a 100% underground operation.

Liontown CEO Tony Ottaviano commented:

The market handed us two very different halves in the year. Prices were weak early, so we kept costs tight and preserved cash. When the market turned, we backed our own read of it and we are now reinvesting in Kathleen Valley with the same discipline.

Northern Star shares slide amid top leadership changes

Joining Liontown and Telstra shares in turning heads today, we find Northern Star.

Shares in the ASX 200 gold mining giant are down 3.9% at the time of writing, trading for $23.82 apiece, pressured in part by a sliding gold price.

This morning, Northern Star also reported that, as previously revealed, Suresh Vadnagra will succeed Stuart Tonkin as managing director and CEO commencing on 5 October.

Tonkin stepped down as Northern Star’s managing director and CEO on Friday, 28 August. Ryan Gurner, who has worked alongside Turner as deputy CEO since 2 July, will serve as interim CEO until Vadnagra takes the reins in October.

Commenting on Tonkin’s departure, Northern Star chairman Michael Chaney said:

Through his financial acumen, integrity and leadership, Ryan has made a significant contribution to Northern Star’s growth and success over his eleven years with the Company, a period marked by substantial value creation.

The post Why Liontown, Northern Star and Telstra shares are turning heads on Monday appeared first on The Motley Fool Australia.

More reading

• Liontown FY26 results: Maiden profit, record revenue as lithium prices rebound
• 5 things to watch on the ASX 200 on Monday
• ASX 200 mining shares outperform in final week of earnings season
• Why gold stocks have regained their shine: Expert
• Here are the top 10 ASX 200 shares today

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

Xero Ltd (ASX: XRO) and WiseTech Global Ltd (ASX: WTC) are already major technology businesses.

What keeps me interested in them is how much opportunity could still lie ahead.

For investors prepared to look several years into the future, I think both are strong buys.

Xero shares

Xero is already deeply established in Australia, so it can sometimes feel like the company has travelled further than it actually has.

It finished FY26 with 4.92 million customers globally. Yet Xero has previously estimated its total addressable market at around 100 million small and medium-sized businesses.

The US illustrates the opportunity particularly well. Xero had around 424,000 US customers at the end of FY26. Its investor day material estimated there were more than 35 million small and medium-sized businesses in the country.

For me, that gap is far more exciting than simply talking about adding another few hundred thousand subscribers.

The business also has more to sell as it expands. Its acquisition of Melio has strengthened payments, while payroll and artificial intelligence are becoming more important parts of the platform.

I think Xero can gradually become the place where a small business handles much more of its financial life.

If the company can make meaningful progress in the US while continuing to grow elsewhere, today’s customer base could eventually look surprisingly small.

WiseTech shares

WiseTech requires a little more patience from me right now.

The company has been through leadership and governance changes, while the e2open acquisition adds considerable integration work. Its new CargoWise Value Packs commercial model is also still relatively new.

Those factors create uncertainty around how smoothly the next few years unfold.

But WiseTech’s position in global logistics software remains difficult for me to overlook.

Its technology is used by more than 20,000 logistics companies across 193 countries, including 47 of the world’s top 50 third-party logistics providers and 24 of the 25 largest global freight forwarders.

I think those relationships say a lot about the strength of CargoWise.

Global logistics is incredibly complex. Freight forwarders need to manage customs, warehousing, transport, compliance, payments, and shipments moving across numerous countries and systems.

WiseTech has spent decades building software around those problems.

The e2open acquisition extends the company further across supply chains, while artificial intelligence could automate more work inside CargoWise and make the platform increasingly valuable to customers.

I am willing to accept some uncertainty while WiseTech works through these changes because its starting position remains so strong.

Foolish takeaway

Xero already serves millions of businesses but has barely scratched some of its largest potential markets, while WiseTech already sits at the heart of many major logistics companies while continuing to expand what its technology can handle.

I think both businesses still have plenty of room to surprise investors over the next decade.

The post Why I think Xero and WiseTech shares are strong buys appeared first on The Motley Fool Australia.

More reading

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• 3 ASX growth shares to buy in September
• Warren Buffett’s playbook: 3 cheap ASX shares that could soar up to 60%
• Top brokers name 3 ASX shares to buy next week
• Here are the top 10 ASX 200 shares today

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 positions in and has recommended WiseTech Global and Xero. The Motley Fool Australia has positions in and has recommended WiseTech Global and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.