What Does Wall Street Think About BHP Group (BHP)?

BHP Group (NYSE:BHP) is one of the best copper stocks to buy right now. On December 3, JPMorgan analyst Dominic O’Kane lifted the price target on BHP Group (NYSE:BHP) to 2,300 GBp from 2,100 GBp while keeping a Neutral rating on the shares. However, Citi analyst Ephrem Ravi reiterated a Hold rating on the stock on December 2, setting a A$47.00 price target.

Jim Cramer On BHP Group (BHP) – Holy Cow, Great Yield

In addition, Bank of America Securities analyst Jason Fairclough maintained a Buy rating on BHP Group (NYSE:BHP) on November 24, with a price target of A$49. Morgan Stanley’s Rahul Anand also issued a bullish outlook for the stock the same day, assigning a Buy rating.

The ratings came after BHP Group (NYSE:BHP) reported its operational review for the quarter ended 30 September, announcing that copper production grew 4%, with record concentrator throughput at Escondida. Management highlighted the resilient overall macroeconomic signals for commodity demand, with global growth forecasts also moving higher.

The company further stated that while it expects some deceleration in growth in H2 CY25, in China, it still expects GDP growth of ~5% for the year. In addition, BHP Group’s (NYSE:BHP) asset portfolio in copper benefited from major disruptions at some of its competitors’ mines, tightening the overall market fundamentals.

BHP Group (NYSE:BHP) is involved in the exploration, production, development, and processing of copper, iron ore, and metallurgical coal. Its operations are divided into the Copper, Iron Ore, and Coal segments. The Copper segment encompasses the mining of copper, silver, gold, lead, zinc, molybdenum, and uranium.

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