Copper Price Forecast: UBS has raised its copper price targets for 2026 due to tightening supply and increased market deficits, projecting a target of $13,000 per ton by December 2026.
Supply Disruptions: Mine disruptions in Chile, Peru, and Indonesia, particularly at Freeport-McMoRan's Grasberg complex, are contributing to a significant shortfall in copper production, with anticipated deficits of 230,000 tons in 2025 and 407,000 tons in 2026.
Growing Demand: Global copper consumption is expected to rise by 2.8% in both 2025 and 2026, driven by sectors such as electric vehicles and renewable energy, highlighting the increasing value of copper assets.
Strategic Importance: The U.S. government is prioritizing the security of copper and critical minerals, with the Export-Import Bank planning to invest $100 billion to reduce dependence on foreign sources, particularly China and Russia.
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
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.
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
JPMorgan
Dominic O'Kane
Neutral
maintain
2026-01-21
New
Reason
JPMorgan
Dominic O'Kane
Price Target
AI Analysis
2026-01-21
New
maintain
Neutral
Reason
JPMorgan analyst Dominic O'Kane raised the firm's price target on BHP Group to 2,400 GBp from 2,300 GBp and keeps a Neutral rating on the shares.
Argus
Hold
to
Buy
upgrade
$68
2025-12-30
Reason
Argus
Price Target
$68
2025-12-30
upgrade
Hold
to
Buy
Reason
Argus upgraded BHP Group to Buy from Hold with a $68 price target.
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Argus
John Eade
Hold
to
Buy
upgrade
$68
2025-12-30
Reason
Argus
John Eade
Price Target
$68
2025-12-30
upgrade
Hold
to
Buy
Reason
Argus analyst John Eade upgraded BHP Group to Buy from Hold with a $68 price target. The firm says iron ore, copper, and coal prices, which drive BHP's results, are "firming as the global economy picks up." From a technical standpoint, BHP appears are reversing a bearish pattern of lower highs and lower lows that dates to March 2022, the analyst tells investors in a research note.
Argus
NULL -> Buy
upgrade
$60.86
2025-12-30
Reason
Argus
Price Target
$60.86
2025-12-30
upgrade
NULL -> Buy
Reason
BHP Group up 1% to $60.86 after Argus upgrades to Buy
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.
