Morningstar raises fair value of BHP; notes benefits from copper price hike

BHP

11/10/2026 20:28

** Morningstar raises fair value estimate for BHP Group BHP.AX 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, 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 
** 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 34%, as of BHP's last close

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