BHP Shares Plummet Below A$65 Amid Copper Price Drop

BHP shares fell back below A$65 on Wednesday after copper prices dropped and the broader ASX Materials sector declined, reversing a rally that had reached record highs weeks earlier.

The stock closed 3.28% lower at A$64.65, following a gap lower at the open in response to falling copper prices and the sell-off across materials stocks.

BHP's recent full-year result showed attributable profit of approximately US$9.8 billion, up around 9% year on year, with underlying EBITDA near US$33 billion and net debt below US$9 billion.