Berenberg Updates Estimates for BHP Group Post-FY26 Earnings Beat

06:24 AM EDT, 08/19/2026 (MT Newswires) -- Berenberg revised its earnings forecasts for BHP Group (BHP.L, BHG.JO) in a Wednesday report, accounting for the mining company's better-than-expected fiscal 2026 results and "stronger" dividend. BHP Group's revenue for the 12 months ended June 30 jumped 15% year-over-year to $58.76 billion, while attributable profit was up 9% to $9.83 billion. Reflecting this growth, the full-year dividend increased to $1.72 per share from $1.10 per share previously, bolstered by a final dividend hike to $0.99 per share from $0.60 per share in the previous fiscal year. Against this backdrop, the research firm affirmed its hold rating and price target of 34 pounds sterling on the stock. Analysts trimmed their sales projections for fiscal 2027 and 2028 by 0.4% and 0.2%, respectively, while marginally lifting their 2028 EPS estimate by 0.4%. "Over the medium term, management sees scope to continue returning capital to shareholders via higher dividends (above the targeted 50% payout ratio), underpinned by a net debt position at the lower end of the target range (we forecast USD10bn in FY 2027E), with an additional USD3.5bn of value to be unlocked from further portfolio [optimization] (on top of the USD2bn from the closing of the Western Australian Iron Ore (WAIO) power asset sale in August 2026)," Berenberg wrote.