Rio Tinto Ltd (ASX: RIO) shares are climbing higher again in Wednesday lunchtime trade.

At the time of writing, the shares are up around 2% for the day, and are trading at $179.98 each.

Today’s increase means the ASX mining stock is now up 21% higher for the year-to-date, and they’re 53% higher than 12 months ago.

For context, the S&P/ASX 200 Index (ASX: XJO) is down slightly, by around 0.2% at the time of writing, and around 1% higher than a year ago. 

What is causing the Rio Tinto share price rally?

Copper prices are reaching fresh record highs this week as supply struggles to keep up with rising demand from data centers, renewable energy projects and power grids.

According to Trading Economics data, copper futures have climbed to around US$6.8 per pound, up significantly from around US$4.5 per pound around 12 months ago.

Major copper-producing countries in South America have also faced operational challenges this year, contributing to weaker output and exports. And at the same time fears about potential US tariffs has encouraged traders to ship directly to US warehouses, tightening supply elsewhere in the market.

And the increase is good news for Rio Tinto. The company has diversified away from its heavy reliance on iron ore, becoming a major player in the copper market.

The shift has boosted the company’s earnings too. For the first half of FY26, Rio Tinto reported a 28% increase in its underlying EBITDA. 

And underlying EBITDA for the company’s copper business surged 84% to US$5.7 billion, making up roughly 36% to 39% of total group earnings. Copper, aluminium and lithium now contribute more than half of the miner’s underlying EBITDA.

Rio Tinto’s underlying fundamentals are clearly very strong. But now the question is, can the shares keep climbing higher, or have they reached fair value?

Are the mining shares a buy, sell or hold now?

After an impressive rally over the past 12 months, it looks like Rio Tinto shares could be trading around fair value.

TradingView data shows that the experts are divided about their outlook for the shares. Out of 15 analysts, six have a buy/strong buy rating and another six have a hold rating on the shares. Another three have a strong sell rating.

But after the latest rally, the average $171.92 target price now implies a potential 4% downside, at the time of writing. Although some still tip an upside of up to 10%, to $198.01 over the next 12 months. 

The team at Morgans has a hold rating on the mining shares. The broker notes that iron ore remains the primary earnings driver for Rio Tinto, leaving profits exposed to movements in commodity prices and Chinese demand. It added that, given this balance of quality and cyclical risk, the shares now look to be trading at fair value.  

The post Up 54% in a year: Are Rio Tinto shares a buy, hold or sell? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies 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.

Santos Ltd (ASX: STO) shares are trending higher in Wednesday morning trade.

At the time of writing, the shares are up around 2% and are changing hands at a six-year high of $8.54 each.

The latest increase means the oil and gas company’s shares have increased around 39% for the year-to-date, and they’re also up 12% compared to this time last year.

What is driving the shares higher this year?

The ASX energy shares shot higher in 2026 off the back of ongoing conflict between the US and Iran. Volatility in the region has fuelled significant concerns about tighter global oil supply and rising prices.

The shares spiked in February and March, around the time news first broke that conflict had escalated between the two nations. The shares continued climbing in value as the war heated up.

Santos shares cooled in June off the back of news that the two nations could soon reach a peace agreement, but strikes have resumed in the region this week, reigniting inflation fears and pushing the energy company’s shares to a fresh high.

The shares have also been supported by the company’s strong half-year FY26 results announcement, which it posted last month.

Santos reported a 2% year-on-year increase in sales revenue and a 1.7% increase in production volumes. The company also generated free cash flow from operations, driven by strong base business performance.

The business could continue strengthening this year

It looks like the oil and gas business is well placed to keep increasing its production in the coming reporting periods, which could help boost its earnings even further.

Just this week, Santos announced that it has agreed to spend around US$189 million ($262 million) to buy another 3.3% of the Papua LNG project from TotalEnergies SE (NYSE: TTE).

The deal is still subject to regulatory approvals and a final investment decision. This is currently targeted for the fourth quarter of 2026.

If it goes ahead, Santos expects its share of LNG production from Papua LNG to rise by around 19% to about 1.2 million tonnes per year.

So, what do brokers tip for Santos shares next?

It looks like the experts are bullish about the outlook for Santos shares over the next 12 months.

Market Index data shows that all brokers have a strong buy rating on the stock. But after the latest rally, the $8.57 average target price now implies around a 0.5% upside, at the time of writing.

Sentiment is also very positive on TradingView. Out of 15 analysts, 13 have a buy/strong buy rating on Santos shares. Meanwhile, one analyst rates it a hold, and one rates the energy share a sell. 

The average $8.75 target price implies a potential 2% upside ahead, at the time of writing. But some expect the shares to jump around 24% to $10.60 within the next 12 months.

Citi reaffirmed its buy rating on the ASX 200 energy share following its half-year update. The broker also raised its target price to $9, which is a little above the average.

Elsewhere, Morgans has a hold rating on Santos shares. The broker noted that the results beat estimates, but that it is impossible to quantify the risks posed by the Federal Government’s gas reservation policy ahead of its release. 

The post Here’s what brokers tip for Santos shares over the next 12 months appeared first on The Motley Fool Australia.

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• Santos shares on watch after major Papua LNG deal
• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor Samantha Menzies 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.

The All Ordinaries Index (ASX: XAO) is up a slender 0.6% in 2026, with no thanks to these two beaten down ASX All Ords healthcare shares.

The struggling companies in question are commercial-stage medical device company Saluda Medical Inc (ASX: SLD) and health imaging company Pro Medicus Ltd (ASX: PME).

In morning trade on Wednesday, Pro Medicus shares are changing hands for $168.79 apiece. That’s down 0.5% today, and it sees the Pro Medicus share price down 24.2% since 2 January.

Saluda Medical, which listed on the ASX on 5 December, has had an even tougher year of it.

At time of writing, Saluda Medical shares are trading for 41 cents each. That’s flat for the day, but it still sees this ASX All Ords healthcare down a painful 71.7% year to date.

Looking ahead, however, Medallion Financial Group’s Stuart Bromley believes both ASX All Ords healthcare shares are well-placed to rebound in the months ahead courtesy of The Bull).

Here’s why.

ASX All Ords healthcare share increasing revenue

Turning to Saluda Medical first, Bromley said, “Saluda makes the Evoke spinal cord stimulator, which automatically adjusts pain therapy in real time.”

And he was impressed with Saluda’s FY 2026 results.

Bromley noted:

Results in full year 2026 were strong, in our view.

Revenue of $US90.2 million was up 28 per cent on the prior corresponding period and ahead of upgraded guidance. US patient implants increased by 50 per cent in the fourth quarter of 2026.

Summarising his buy recommendation on the ASX healthcare stock, he concluded:

With its newly approved CAP24 surgical paddle lead expanding the addressable US market by about 30 per cent, we believe SLD presents as an attractive buying opportunity for investors comfortable with potential share price volatility and risk.

Which brings us to…

Pro Medicus shares trading at ‘attractive’ levels

Bromley also had a bullish take on Pro Medicus shares.

“Pro Medicus is a global leader in medical imaging software, with its Visage platform increasingly adopted by major US hospital networks,” he said.

Summarising his buy recommendation on the ASX All Ords healthcare share, Bromley concluded:

Revenue of $261.7 million in full year 2026 rose 22.9 per cent on the prior corresponding period. Underlying net profit after tax of $144.7 million was up 24.1 per cent. Revenue and underlying net profit exceeded expectations, while the underlying earnings before interest and tax margin reached an exceptional 74.9 per cent.

It signed 10 new contacts worth $407 million in full year 2026. It renewed six contracts on five-year terms to the value of $141 million. Recent share price weakness provides an attractive entry point into a high-quality growth business.

The post Expert names 2 beaten-down ASX All Ords healthcare shares to buy today appeared first on The Motley Fool Australia.

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• Down 43%! 4 reasons to buy the BIG dip in Pro Medicus shares today
• Experts name 3 top ASX shares to buy this week

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 recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.