Friday close
A$65.16
+6.2% over the week · -0.9% Friday
The close was just 1.2% below the A$65.98 52-week high.
A$331.24bn market cap2.18× relative volumeA$39.30–65.98 range
BHP Shares Climb 6.2% With Copper Surpassing Iron Ore as Targets Trail
BHP Group Limited finished results week trading close to its 52-week peak, as copper overtook iron ore as its top contributor to earnings. Shares settled at A$65.16 on Friday, marking a 6.2% gain from the previous Friday, even after dipping 0.9% in the last trading session.
BHP
ASX:BHP · Results-week dashboard
Copper drove the rerating.
Targets have not caught up.
Market data: 21 Aug 2026, 16:10 AEST
Fundamentals: FY ended 30 Jun 2026
Analyst snapshot: 22 Aug 2026
Fundamentals: FY ended 30 Jun 2026
Analyst snapshot: 22 Aug 2026
Six-session price path
FY2026 scorecard
RevenueUS$58.8bn+15%
Underlying EBITDAUS$32.9bn+27%
Underlying profitUS$13.2bn+30%
Free cash flowUS$9.8bn+83%
Net debtUS$8.7bnDown US$4.2bn
Full-year dividendUS$1.724-year high
Copper overtook iron ore
CopperIron oreOther
Analysts remain neutral
Recent calls: JPMorgan Buy, A$67; RBC Hold, A$60; Macquarie Hold, A$55.
Price versus 12-month targets
Target range: A$42.76–A$91.09. The spread shows how strongly commodity assumptions drive valuation.
Why the stock moved
- Profit beat: US$13.20bn underlying profit topped the US$12.66bn Visible Alpha consensus by about 4.3%.
- Copper pivot: realised copper prices rose 35%; copper supplied more than half of group EBITDA for the first time.
- Cash return: the US$1.72 full-year dividend was the highest in four years.
- Balance sheet: net debt fell to US$8.69bn, leaving room for a copper-heavy growth program.
- Friday check: the shares slipped 0.9% on 2.18× relative volume, suggesting profit-taking near the high.
What to watch next
Aug 24ASX reopens. A$65 is the first momentum test.
A$63.71–63.85Results-week support zone. A break would weaken the rerating.
A$65.9852-week high and the immediate upside marker.
Sep 3ASX ex-dividend date for the US$0.99 final payment.
Sep 23Final dividend payment date.
Risk monitor
A copper reversal would hit the new earnings narrative first. Higher FY2027 capital spending, the Jansen potash cost overrun and Western Australian iron-ore industrial action could also challenge the rerating. The stock is already above the average analyst target.
Sources: BHP FY2026 results release and annual report; BHP dividend calendar; Reuters, 17 Aug 2026; TradingView Australian market data; Investing.com analyst consensus; StockInvest ASX:BHP history. Price and volume data are delayed market references, not real-time quotes. Calculations use the cited closing prices and may differ slightly due to rounding.
BHP shares gain A$19 billion during copper results week, close surpasses analyst expectations
BHP Group Limited wrapped up results week posting a valuation increase estimated at A$19.4 billion. The stock finished Friday at A$65.16, marking a 6.2% rise compared to the prior Friday's close. Australia’s markets have shut for the weekend.
ASX:BHP · Investor dashboard
Copper drove the earnings beat. Valuation now sets the test.
Market closed
Price: 21 Aug 2026, 16:13:39 AEST
Financials: year ended 30 Jun 2026
Price: 21 Aug 2026, 16:13:39 AEST
Financials: year ended 30 Jun 2026
Friday close
A$65.16
▼ 0.90% on 13.88m shares
Results-week return
+6.2%
About A$19.4bn market value added
Underlying profit
US$13.20bn
+30% year on year · 4.3% estimate beat
Target gap
-8.2%
A$59.83 average target versus close
Results-week repricing
BHP close, A$52-week high: A$65.98Friday relative volume: 2.18×
Earnings engine
Copper produced 54% of group underlying EBITDA and 25% more EBITDA than iron ore. That crossover explains most of the rerating.
Financial scorecard
| Measure | FY26 | Change |
|---|---|---|
| Revenue | US$58.76bn | +15% |
| Underlying EBITDA | US$32.95bn | +27% |
| Operating cash flow | US$21.78bn | +17% |
| Free cash flow | US$9.8bn | +83% |
| Net debt | US$8.69bn | -33% |
| Annual dividend | US$1.72/share | 4-year high |
Analysts trail the price
4Buy
12Hold
1Sell
Low A$43.23Average A$59.83High A$92.10
Friday's close is 8.9% above the average target. Morgan Stanley's A$67 target leaves 2.8% upside; Macquarie's A$58.50 implies 10.2% downside.
What can extend the rally
Copper prices hold after driving a 70% segment margin.
Analysts lift targets to reflect the earnings beat and lower debt.
Jansen Stage 1 stays on track for first production in mid-2027.
What can break it
FY27 copper guidance midpoint is 11.7% below FY26 output.
Escondida grades, project inflation or weaker copper prices compress cash flow.
China's steel cycle weakens iron ore demand and offsets copper strength.
BHP Shares Shift Focus to Copper, Analysts See Potential 9% Downside
BHP Group Limited is now primarily driven by copper profits. Underlying EBITDA from copper reached US$18.19 billion, surpassing iron ore, which contributed US$14.53 billion. This marked the first time copper outperformed iron ore over a full year.
ASX:BHP · Copper re-rating
Copper leads earnings.
Targets trail the stock.
Market data
Aug. 20, 2026 · ASX close
Pre-open at 09:05 AEST
Aug. 20, 2026 · ASX close
Pre-open at 09:05 AEST
BHP close
A$65.75
▲ 3.20% session
Market value
A$323.7B
≈A$10B added
Consensus target
A$59.86
▼ 9.0% to target
Full-year dividend
US$1.72
▲ 57% year on year
Copper share of underlying EBITDA
54%
First year above iron ore
Copper underlying EBITDA margin
70%
About 14 points above group margin
Profit mix crossover
What changes next
| FY26 copper output | 1.953Mt |
| FY27 midpoint | 1.725Mt |
| Midpoint change | -11.7% |
| FY35 ambition | Up to +40% |
Near-term Escondida grades temper the long-duration copper growth case.
Analyst recommendations
| Analyst | View | Target | Return |
|---|---|---|---|
| Bernstein | Hold | A$44.02 | -33.0% |
| Morgan Stanley | Buy | A$67.00 | +1.9% |
| Citi | Hold | A$63.00 | -4.2% |
| Bank of America | Hold | A$65.00 | -1.1% |
| 17-analyst consensus | Hold | A$59.86 | -9.0% |
Sources: BHP fiscal 2026 results; Reuters; Financial Times; TradingView; S&P Global analyst data compiled by StockAnalysis. Market figures use the August 20, 2026 ASX close. Calculations may differ slightly due to rounding.
ASX 200 Steady at Close After Volatile Earnings Shifts Ahead of Wage Report
Australian stocks were poised to begin Wednesday’s session weaker. The S&P/ASX 200 closed Tuesday at 9,070.0, down 3.2 points, or 0.04%. At this update, the cash market was still in pre-open; regular trading is scheduled for approximately 09:59:45 in Sydney.
Australia · pre-open investor brief
Cash market pre-open
The index remains flat, but volatility among individual stocks is high.
Healthcare climbed, but lingering weakness in banks kept the benchmark unchanged. As financials and materials make up 59.23% of the index, sector leadership outweighs market breadth.
Snapshot taken at 19 Aug 2026, 08:55:36 AEST (UTC+10). Regular ASX trade starts at 09:59:45 AEST, followed by a randomised 15-second opening window. ASX hours
18 Aug 2026 close; reported 16:29 AEST (UTC+10) by ABC
Five consecutive declines wiped out the early-August gains
S&P/ASX 200 daily closing values from 4 to 18 Aug 2026; AEST trading sessions (UTC+10)
Series: Investing.com historical data. Closing prices are provided after the ASX closing auction, typically finishing at around 16:11 Sydney time.
Why an ≈+8.1% rise in healthcare failed to boost the index
Index weights as of 18 Aug 2026 close; source does not specify clock time or time zone
Investor read-through: The session lacked widespread calm, with only a niche segment posting a sharp recovery. Banking-heavy core areas continued to act as a drag on the index.
Weights sourced from State Street STW, 18 Aug 2026. Market changes from 18 Aug 2026 close; health sector movement checked with ABC at 16:29 AEST.
Shares to be paid a fully franked dividend of A$2.70 each. The ex-date starts at the ASX opening phase on 19 Aug 2026 at 09:59:45 AEST (UTC+10). This may exert automatic downward pressure on the price index, all other factors being unchanged. CBA dividend
The Wage Price Index will be released at 11:30 AEST (UTC+10). The previous quarter climbed 0.8%, with annual growth at 3.3%. This data has the potential to shift rate forecasts for the banking, property, and retail sectors. ABS schedule
Santos, Evolution Mining, Temple & Webster, Breville, Mirvac and Whitehaven Coal are listed as companies due to release reports. The source did not specify exact release times. Morningstar/AAP
Primary sources: ABC market close RBA decision ASX trading hours Data-quality note: there was no verified, time-stamped official SPI 200 pre-open quote at 08:55:36 AEST, so the futures figure is omitted. The calculated values are 59.23% (32.61% plus 26.62%), −1.95% (from 9,250.6 down to 9,070.0), and −2.44% (from 9,296.7 to 9,070.0).
European Markets Open; Canada CPI, Empire State Data and Fabrinet Earnings Drive Monday’s Key Risk Events
WARSAW, August 17, 2026, 11:57 CEST — Trading is underway across European markets. Wall Street is set to open at 15:30 CEST, with US index futures climbing ahead of a focused but potentially volatile Monday schedule.
ASX 200 Prepares for CPI, Tech Challenges After Oil-Led Rally
Australia's stock market was expected to start down on Tuesday, even as oil prices recorded another steep decline. ASX 200 futures traded 0.3% lower at 8,818 ahead of the open.
Australian shares weigh mining losses against oil gains ahead of Monday open
Initial estimate: BHP Group was likely responsible for a reduction of about 27 index points on Friday. The overall energy sector contributed an approximate gain of six points.
BHP Group Ltd (ASX:BHP) drops after Escondida leads 93% of forecast copper output fall
Australian markets did not open on Saturday. BHP Group Ltd closed Friday at A$57.54, falling 2.71%, as its outlook for copper overshadowed a record iron ore production.
ASX 200 declines as losses in materials offset rises across seven sectors
Australian shares ended down, with losses in materials offsetting advances in seven sectors. The benchmark dropped 44.0 points to finish at 8,796.7. The cash market had closed by the dateline.
ASX 200 set for tepid open as divergence between banks and miners tempers Nasdaq influence
Australian shares started Friday with a slight downward tilt. SPI futures indicated a 0.2% drop as trading commenced. The initial direction was still tentative.
BHP Shares Under Pressure from Escondida Copper Challenges Amid Record Iron Ore Production
BHP Group Ltd faces a more acute copper challenge heading into Friday. The company's midpoint guidance for FY27 signals an 11.7% drop in production from FY26 levels. Nearly 93% of that estimated deficit is attributed solely to Escondida.
BHP Group (ASX:BHP) says copper must stay near $6.50 to balance 2027 volume loss
BHP will rely on copper sticking near June quarter prices as it faces a 12% drop in output for fiscal 2027. Using Thursday’s production forecast, BHP needs an average copper price near US$6.50 a pound, a touch below the US$6.53 a pound it said it got in the fourth quarter.
BHP runs 74 million-tonne iron ore test just before Port Hedland strike
The ASX cash market sat in pre-open, with regular trading scheduled for just before 10:00 AEST.
ASX 200 Closes at Two-Week High, Miners Gain While Energy Falls on Oil Drop
Australian shares ended Monday at their highest in two weeks after miners and gold stocks outperformed. The S&P/ASX 200 rose 35 points, or 0.4%, to 8,692, up for a third session. Oil fell as some traders bet on progress in U.S.-Iran talks, helping cool fears of a new inflation bump.
ASX on Watch as Inflation Test Looms After Volatile Week
ASX traders are watching Wednesday’s April inflation release, with last week’s bounce in banks and retailers now in play. The cash market is shut for the weekend, with regular ASX trading wrapping up on business days at 4:00 p.m. Sydney. The 2026 ASX calendar puts the next full day off for the cash market at King’s Birthday, June 8.
Australia Stock Market Today: ASX 200 Tumbles as Oil Shock Erases Nearly $50 Billion
Australian stocks took their biggest tumble in nearly two months on Friday, with the S&P/ASX 200 sliding 133.7 points, or 1.51%, to close at 8,744.40. Renewed tensions in the Gulf rattled investors and erased close to A$50 billion in value from the market.
Australia Stock Market Today: ASX 200 Rallies as Miners Jump and Energy Shares Crack
Australian stocks extended gains into a second day on Thursday. The S&P/ASX 200 finished 84.5 points up at 8,878.1, led by a surge in miners and gold producers. Oil and gas shares, on the other hand, drew sellers.
Australia Stock Market Today: Why the ASX 200 Jumped 1.3% After the RBA Rate Hike
Australian stocks rebounded Wednesday, snapping a two-day slump as the S&P/ASX 200 jumped 1.3% to finish at 8,793.60. That’s the highest close since early April, with banks and miners driving the gains. Risk sentiment got a boost after signs emerged of movement on a U.S.-Iran agreement.
Australia Stock Market Today: ASX 200 Ends Lower but Still Logs Best Week Since 2022
Australian shares finished in the red on Friday, but the benchmark still managed its best weekly showing since late 2022. A possible U.S.-Iran truce helped the week’s relief rally hold. The S&P/ASX 200 gave up 12.6 points, or 0.14%, to close at 8,960.6. BHP dropped 1.1%, Fortescue lost 1.3%, and Santos slipped 0.6%.
Australia Stock Market Today: ASX 200 Ends at Five-Week High as Banks Offset Tech Rout
Australian stocks managed a modest climb on Thursday, with the S&P/ASX 200 ending 0.2% higher at 8,973.20—a level not seen since March 3. Banks did most of the heavy lifting for the benchmark, though steep losses among tech names limited further gains.
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