On July 16, BHP Group fell 3.47% in regular trading, trading at $81.85/share, with turnover of $16.10 million. The decline was triggered by disappointing fourth-quarter operational data and a significant downward revision to next fiscal year copper production guidance.
BHP reported that Q4 copper production declined more than market expectations due to falling output at the Escondida and Pampa Norte operations in Chile. More critically, the company guided FY2027 copper production at 1.65 to 1.80 million tonnes, representing a substantial reduction from FY2026 output of 1.953 million tonnes. The primary driver is an expected decline in ore grades at Escondida, the world's largest copper mine. Iron ore production at Western Australia also fell short, coming in at 74.8 million tonnes versus consensus expectations of 75.1 million tonnes and the prior year's 77.5 million tonnes.
Within the Diversified Metals & Mining sector, the overall sector traded lower. Among individual stocks, Rio Tinto PLC down 2.84%, MP Materials Corp. down 3.77%, USA Rare Earth Inc. down 3.81%, Materion down 1.90%, Almonty Industries Inc. down 2.86%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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