BHP shares hit 3-month high as deadline for formal Anglo bid looms By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Source: Investing.com
- BHP Group's Shares Surge: BHP Group's shares reached a three-month high ahead of a bid deadline to acquire Anglo American, following the rejection of a $43 billion proposal by Anglo last week.
- Market Speculation and Factors Driving BHP's Shares: Positive news such as China's stimulus for the property sector, record-high copper prices, and market belief that BHP may not pursue another offer for Anglo are boosting BHP's shares.
- Deadline for Bid Submission: BHP has until 1600 GMT on Wednesday to submit a binding bid for Anglo American or face a six-month restriction from making an offer.
- Anglo's Response and Strategic Plans: Anglo's board rejected two previous proposals from BHP, opting to focus on copper assets and divest coal, nickel, diamond, and platinum businesses.
- Potential Competitor Bids and Deal Considerations: Analysts warn that delays in the deal could attract rival bids for Anglo's assets, with BHP needing to increase its offer by about 30% to reflect fair value.
Analyst Views on HG
Wall Street analysts forecast HG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HG is 29.20 USD with a low forecast of 24.00 USD and a high forecast of 32.00 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.
5 Analyst Rating
3 Buy
2 Hold
0 Sell
Moderate Buy
Current: 27.030
Low
24.00
Averages
29.20
High
32.00
Current: 27.030
Low
24.00
Averages
29.20
High
32.00
About HG
Hamilton Insurance Group, Ltd. is a Bermuda-based company, which underwrites specialty insurance and reinsurance risks on a global basis through its wholly owned subsidiaries. Its products include Hamilton Re, Hamilton Global Specialty and Hamilton Select. Hamilton Re products include Casualty Reinsurance, US Casualty Reinsurance, Property Treaty Reinsurance, Specialty Reinsurance, Casualty Insurance, Financial Lines Insurance, Property D&F Insurance, General Liability Reinsurance, Healthcare Reinsurance, Aviation Reinsurance, and others. Hamilton Global Specialty products include Accident & Health Insurance, Cyber Insurance, Excess Energy Insurance (Americas), Environmental Insurance (Americas), Environmental Insurance, Financial Institutions Insurance, Fine Art & Specie Insurance, Kidnap & Ransom Insurance, Political Risk Insurance, and others. Hamilton Select products include Allied Medical Insurance, General Casualty Insurance, Medical Professionals Insurance, 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.
