BHP stock follows Kambalda sale as copper leads profits

Published on 10/07/2026 at 09:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BHP stock enters October after FY2026 underlying profit rose 30 percent to USD 13.2 billion on August 18, 2026. ASX shares stood at AUD 62.370 on October 7.

BHP, US0886061086, Illustration mit AI erstellt.

BHP Group Limited stock (ISIN US0886061086) stood at AUD 62.370 on the Sydney exchange on October 7, 2026, down 0.78 percent from the prior close. The latest company event is a strategic retreat from nickel, as BHP agreed to sell its Kambalda concentrator and related Western Australian tenements to Gold Fields, according to Reuters on October 7, 2026.

Kambalda sale reshapes nickel strategy

The transaction covers the Kambalda Nickel Concentrator, associated land, mining tenements and mineralization rights. Gold Fields will evaluate long-term uses for the concentrator, while completion remains subject to regulatory approvals and is expected during calendar year 2027, according to Markets Insider.

The sale narrows BHP's exposed nickel footprint after operations across Nickel West were suspended. The remaining Western Australian nickel assets are scheduled for a broader strategic review by February 2027, with divestment, restart, continued suspension or closure among the possible routes, Markets Insider reported.

Copper now carries the earnings story

BHP's fiscal year ended June 30, 2026, with revenue of USD 58.8 billion, up 15 percent from the prior year. Underlying EBITDA increased 27 percent to USD 32.9 billion, while underlying attributable profit rose 30 percent to USD 13.2 billion, according to Veye in its FY2026 review.

Copper supplied USD 18.2 billion of operating earnings in FY2026, exceeding iron ore's USD 14.5 billion contribution for the first time. That mix shift gives the nickel disposal a wider meaning: BHP is concentrating capital and management attention on copper, iron ore and potash rather than preserving every legacy operation.

Analysts remain cautious on valuation

MarketBeat listed a Hold consensus from 11 analysts, with an average 12-month target of USD 78.00, a high target of USD 95.00 and a low target of USD 48.00. The consensus is published for BHP's NYSE-sponsored ADR, so its dollar targets are separate from the AUD 62.370 Sydney reference price.

The Sydney quote remains below its 52-week high of AUD 68.770 and above its 52-week low of AUD 40.175. Market capitalization was AUD 317.58 billion and volume was 899,550 shares on October 7, 2026, keeping the strategic reset in the context of a large, liquid mining group.

BHP stock heads toward its next review

BHP's investor calendar lists an operational review for the quarter ended September 30, 2026, on October 20, 2026, according to the BHP investor center. That update will give investors the next operating checkpoint after the Kambalda decision.

BHP stock was last at AUD 62.370 on the Sydney exchange on October 7, 2026, after the AUD 0.490 daily decline. The key test is whether copper-led earnings can offset the weaker nickel and iron ore backdrop.