BHP Surges on Record Copper Profits Amid Cautious Analyst Views

BHP Group Limited's stock has surged to A$65.75, representing a 3.2% increase and making it the leading stock in Australia by traded value on Thursday.

The company's underlying EBITDA from copper reached US$18.19 billion, surpassing iron ore for the first time over a full year, with copper accounting for 54% of BHP's underlying EBITDA in fiscal 2026.

Copper demand is driven by data centres and power infrastructure, according to Chief Executive Brandon Craig, who stated that demand is projected to climb to 50 million tonnes by 2050, compared to roughly 34 million at present.