BHP Group Raises FY2026 Copper Production Guidance to 1.9-2.0 Million Tons
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 20 2026
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Source: Benzinga
- Copper Production Decline: BHP reported a 4% year-over-year decline in Q2 copper production to 490.5 Kt, primarily due to a 7% drop at the Escondida mine, indicating challenges in the copper market that may impact future earnings.
- Iron Ore Production Growth: Despite the decline in copper, iron ore production increased by 5% year-over-year to 69.7 Mt, showcasing strong performance in the iron ore sector, which helps offset weaknesses in copper operations.
- Management Outlook: CEO Mike Henry noted that despite a slowdown in global economic growth, commodity demand is expected to remain robust in 2026, particularly driven by China and India, reflecting the company's confidence in long-term growth prospects.
- Guidance Revision: BHP raised its FY2026 copper production guidance to 1.9-2.0 million tons, reflecting strong performance in a high copper price environment, which is expected to enhance the company's competitive position in the market.
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: 67.770
Low
48.00
Averages
54.88
High
68.00
Current: 67.770
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.
