BHP Group rises after Morningstar raises fair value estimate

BHP

12/10/2026 24:59

Updates
** Shares of BHP Group BHP.AX rise as much as 2.4% to A$62.41, posting their biggest intraday pct gain since Sept 9   
** Morningstar raises fair value estimate for the world's top copper producer by 4% to A$48
** Investment research firm says copper trades near historical highs at about $6.50 per pound, up 10% since Morningstar's July 2026 price update
** Notes that copper price hike doesn't give upper hand to everyone, flags diversification as key to opportunity in commodity price jump
** Says BHP and Rio Tinto RIO.AX have higher-quality assets led by their iron ore mines in Western Australia and stakes in the Escondida copper mine
** Says gives BHP an edge over competitors abroad such as London-based Anglo American AAL.L 
** Six of 22 analysts rate the stock "buy" or higher, 15 "hold" and one "sell" or lower; their median PT is A$62.02, LSEG-compiled data shows
** YTD, stock up nearly 37%

 (Reporting by Aamir Sheik Khalid in Bengaluru)
 ((Aamir.SheikKhalid@thomsonreuters.com))