Global miner BHP dips despite Macquarie's upbeat long-term copper outlook

ReutersApr 22, 2025 1:32 AM

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Shares in global miner BHP Group BHP.AX down 0.3% to A$36.385, in line with a 0.2% drop in the broader mining sub-index .AXMM

Analysts at Macquarie, however, upbeat on BHP's copper growth after solid performance at Escondida mine in Chile

Brokerage increases BHP's copper production forecasts by 3%, 11%, and 5% for FY29-FY31, respectively

Brokerage says BHP weathered the wet season (Tropical Cyclones Zelia and Sean) better than competitors in the first quarter

BHP says copper production rose 10% to 513,200 metric tons in the first quarter

Stock down 8.1% this year, including the day's move

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