Australian mining heavyweight BHP may see its shares recover by close to 29% in the year ahead, based on analysts’ price targets.
What’s weighing on the BHP stock price?
Inflation worries as well as softer iron ore prices dragged Australian mining majors’ stock prices lower on Monday.
BHP lost 0.5% day-on-day to close at A$36.41, extending the share price’s losses to a fourth consecutive session.
Research teams were largely bullish on the Australia-listed BHP counter. As of Sunday night, nine analysts rated it a ‘buy’, four recommended ‘hold’, and none gave ‘sell’ calls, Bloomberg data showed.
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