Australian miners rally on new China stimulus cheer; Fortescue leads gains By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Source: Investing.com
Australian Mining Stocks Surge: Australian miners experienced a significant rally, with the S&P/ASX 300 Metals & Mining index rising nearly 4% following China's announcement of more fiscal stimulus measures to boost its economy.
Focus on Economic Developments: While mining stocks soared, the broader Australian benchmark index fell 0.4%, as investors awaited the Reserve Bank of Australia's interest rate decision and the upcoming Central Economic Work Conference in China.
Analyst Views on BHP
Wall Street analysts forecast BHP stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for BHP is 54.88 USD with a low forecast of 48.00 USD and a high forecast of 68.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
2 Buy
1 Hold
1 Sell
Hold
Current: 65.610
Low
48.00
Averages
54.88
High
68.00
Current: 65.610
Low
48.00
Averages
54.88
High
68.00
About BHP
BHP Group Limited is an Australia-based resources company. The Company is a producer of commodities, including iron ore, copper, nickel, potash and metallurgical (steelmaking) coal. It is focused on offering a range of resources, which provides copper for renewable energy; nickel for electric vehicles; potash for sustainable farming, and iron ore and metallurgical coal for the steel needed for global infrastructure and the energy transition. Its segments include Copper, Iron Ore, and Coal. Its Copper segment is engaged in mining of copper, silver, zinc, molybdenum, uranium, and gold. Its Iron Ore segment is engaged in mining of iron ore. Its Coal segment is engaged in mining of metallurgical coal and energy coal. The Company is also focused on operating Olympic Dam, Prominent Hill, and Carrapateena underground copper-gold mines in South Australia. Its operations are situated in Australia, Europe, China, Japan, India, South Korea, rest of Asia, North America, South America, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
