Bank of America Downgrades BHP Group Limited (BHP)

BHP Group Limited (NYSE:BHP) is one of the 10 Best Performing Silver Stocks So Far in 2026.

On May 22, Bank of America downgraded BHP Group Limited (NYSE:BHP) to Neutral from Buy, keeping its price target unchanged at A$69, citing a “full” valuation alongside slowing demand in China and rising oil-linked macro risks tied to the Middle East conflict, the analyst said.

On May 13, Reuters reported that BHP Group Limited (NYSE:BHP) incoming Chief Executive Officer Brandon Craig said he will prioritize growth well beyond 2035 by increasing exploration, partnering with peers, and pursuing bolt-on acquisitions when they add value. Speaking at a Bank of America conference in Miami, he said the company’s “diversified model and strong balance sheet” helps it to act quickly if opportunities emerge.

Reuters added that Brandon Craig will assume the role on July 1.

Bank of America Downgrades BHP Group Limited (BHP)

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During CEO Mike Henry’s tenure,  BHP Group Limited (NYSE:BHP) attempted to acquire Anglo American to build up its copper dominance, most notably in late November. Anglo rejected a $49 billion deal from BHP in May 2024.

BHP Group Limited (NYSE:BHP) is involved in the exploration, development, production, and processing of iron ore, metallurgical coal, and copper. It operates in three segments: copper, iron ore, and coal.

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