The Basic Materials group has not had a good start to 2024, as a sector. The S&P 500 Materials Sector SPDR (XLB) \- the most widely used benchmark for these stocks – is down 3.7% this month, even as an ongoing rally in tech has pushed the broader market to new record highs. But while the materials sector is lagging behind, there’s one specific stock in the group that’s still an analyst favorite – and with bullish forecasts for the year ahead, this could be a standout pick worth scooping up at a discount right now. About Rio Tinto StockFounded over 150 years ago in 1873, Rio Tinto (RIO) is the …