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BHP Group (BHP) Teams Up With BlackRock For $2 Billion Investment

We recently published 7 Best ASX Stocks to Buy Right Now.  BHP Group (NYSE:BHP) is one of the best ASX stocks.

BHP Group (NYSE:BHP) is one of the biggest mining companies in the world. The firm made an important announcement on December 9th when it revealed that BlackRock’s Global Infrastructure Partners would invest $2 billion in Western Australia Iron Ore’s inland power network. Through the deal, BHP Group (NYSE:BHP) will retain operational control of the site, and the two companies will create an entity in which the firm will hold a 51% stake. The mining company will pay a tariff to the new entity corresponding to its share.

Late November and early December also saw considerable action by analysts for BHP Group (NYSE:BHP)’s shares. For instance, on December 3rd, JPMorgan increased its share price target for the firm to GBp 2,300 from GBp 2,100 and kept a Neutral rating on the shares. On November 24th, Bank of America Securities kept a Buy rating and an A$49 share price target. BHP Group (NYSE:BHP) also made an important announcement on November 24th when it announced that it was “no longer considering” a combination with Anglo American plc. The firm cited the “potential of its own organic growth strategy” as one of the reasons behind walking away from a deal that many thought was in response to Anglo teaming up with Teck Resources to create a sizable entity in the copper industry.

While we acknowledge the risk and potential of BHP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BHP and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

Undervalued AI Stock Poised for Massive Gains: 10,000% Upside

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

AI game is changing.

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Remember the internet boom? Everyone thought Cisco and Intel were the kings, right? Wrong. The real money was made by the companies that actually used the internet to build something new: e-commerce, search engines, social media.

And it’s the same deal with AI. NVDA? They’re yesterday’s news. The real winners? They’re the robotics companies, the ones building the robots we only dreamed about before.

We’re talking AI 2.0. The first wave was about the chips, this one’s about the robots. Robots that can do your chores, robots that can work in factories, robots that will change everything. Labor shortages? Gone. Industries revolutionized? You bet.

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Buy This $3 Stock Now Before the 400% Surge Begins

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

My name is Inan Dogan. I’m the co-founder and Research Director of Insider Monkey. I have an important message for you today.

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