We covered BHP’s strong FY26 result here; since then, despite the advance in copper and iron ore, the “Big Australia” is basically unchanged, considering it’s $1.38c fully franked dividend last week. BHP has evolved into more of a copper company, as opposed to iron ore, over the last few years, but despite both commodities advancing, the recent rally has been significant, pushing our prevailing weights in both the Growth & Income Portfolio’s well above target.
As we’ve said previously, we plan to trim our large exposure to BHP into current strength – a shorter term tactical move rather than a sign we’re turning against BHP or resources more generally.
- We are bullish towards BHP in the medium term, but it’s looking tired whenever it challenges the $65 area – MM holds BHP in the Growth and Income Portfolios.
MM is long and bullish towards BHP
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