BHP rises on quarterly iron ore beat; Jefferies stays cautious on copper outlook

BHP

22/04/2026 04:10

Updates

** Shares of Australia's BHP Group BHP.AX rise as much as 1.6% to A$56.41, their highest point since April 14

** Stock outperforms mining index .AXMM, which was last down 0.1%

** The miner beats third-quarter iron ore production estimates from Western Australia Iron Ore ops (WAIO) on a 100% basis

** Maintains FY26 iron ore production forecast for WAIO on a 100% basis

** All things considered a positive operational update from BHP, Jefferies says

** Brokerage firm maintains its "hold" rating due to capital allocation risk relating to its growth plans in copper

** Maintains price target of A$52, representing a discount of over 6% to its last close

** Stock up 23.6%, YTD

 (Reporting by Sneha Kumar and Anjali Singh in Bengaluru)

 ((Sneha.kumar@thomsonreuters.com;))