In today’s briefing:
- BHP: Operations Strong in Q4/25 But Looking Fully Valued
BHP: Operations Strong in Q4/25 But Looking Fully Valued
- BHP reported strong operations overall for fiscal Q4/25, with iron ore, copper and coal production up yoy and a qoq recovery after rough Q3/25 Australian weather
- The company released 2026E guidance, with the low-end indicating production declines for the three major divisions, although this was expected by the market
- We remain concerned of potential iron ore and copper price reversals, while the shares trade near our DCF value and at a moderate premium to big cap iron ore
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
