Berenberg Bumps Up BHP Price Target on Expectations of Better Fiscal Q2

09:21 AM EST, 12/17/2025 (MT Newswires) -- The price target for BHP Group (BHP.L, BHG.JO) was raised to 20 pounds sterling from 19 pounds, with the stock's sell rating maintained, as part of Berenberg's Mining Outlook 2026 report published Wednesday. "The December-end quarter is BHP's second quarter of the financial year, and we expect volumes to tick higher after maintenance in Q1 following the usual push for volumes into year-end," the research firm said. "We also expect a dividend of USD0.52 per share, or 50% of underlying earnings, and net debt of USD15.1bn." From 2026, the company is expected to deliver updates on its Jansen project in Canada and Vicuna copper project in Argentina, with analysts anticipating investors to focus their attention mainly on BHP's capital expenditures. Berenberg lifted its fiscal 2026 EPS and sales projections for BHP by 4.5% and 2%, respectively, amid a model update following its revised price deck. For fiscal years 2027 and 2028, forecasts for both metrics were also increased.