The “Big Australian” has started to play some performance catch up over recent months although its been a laggard of late as it arm wrestles with Beijing around future contracts and pricing. With iron ore continuing to look comfortable above $US100/mt and copper nudging new all-time highs, we believe broker upgrades are a matter of time, with its 4% fully franked yield a bonus, i.e. we like BHP for growth and yield.
- We continue to target at least the $45 into 2026: we hold BHP in our Active Growth and Income Portfolios.
MM is long and bullish BHP
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