|
Feb 17, 2026
|
|
LONG
|
"For the first time... 50% of our earnings came from copper... we are revising the guidance up meaning that we will produce more copper. And in the constructive copper price environment we are in." BHP is successfully transitioning from an iron-ore dependent miner to a copper-dominant miner. With copper prices "constructive" (high) and production guidance raised, earnings momentum will continue. The market pays a higher multiple for copper exposure (growth/electrification) than iron ore (cyclical/China construction). LONG BHP to capture the copper supercycle premium. Global recession reducing industrial metal demand; operational issues at Chilean mines. |
Bloomberg Markets
Stock Futures Slide; US, Iran Hold Talks in G...
|