MELBOURNE, February 15, 2026, 17:05 AEDT — Market closed
- BHP shares finished Friday at A$51.13, off 1.84%. Over in the U.S., the stock was recently up 0.85% at $73.38.
- Feb. 17 is set for the miner’s half-year report. Investors will be watching dividends and cost guidance.
- Iron ore finished at $99.66 a tonne on Feb. 13. Copper, close to its all-time highs, is seeing inventories pile up.
BHP Group Ltd (BHP.AX) slipped 1.84% to close at A$51.13 on Friday, just before a busy stretch of earnings for Australia’s mining heavyweights. The company’s U.S. shares, though, closed higher at $73.38, up 0.85%. 1
BHP reports half-year numbers on Feb. 17, with the release expected around 8:00 a.m. in Melbourne. The update covers the six months ending Dec. 31. Dividends, realised commodity prices, and any tweaks to cost or spending guidance will be under the microscope. 2
Why now? With earnings season propping up the local market, miners have been a big part of the action. The S&P/ASX 200 dropped 1.4% on Friday, snapping a run but still notched a 2.4% gain for its strongest week since late April. “Earnings turning positive” provided some relief “after a tough three years,” AMP chief economist Shane Oliver said. VanEck Australia’s Jamie Hannah chalked up Friday’s decline to “profit-taking.” 3
Miners slipped on Friday, ending a four-day run, after iron ore and copper prices lost ground. Shares of BHP, Rio Tinto, and Fortescue Metals all dropped, according to a Reuters report. 4
Sentiment around the big diversified miners tends to move with iron ore. On Feb. 13, benchmark 62% iron ore futures settled at $99.66 a tonne, slipping 0.71% for the day, per Investing.com data. 5
Then there’s copper. A recent Reuters metals column noted inventories across the major three exchanges have topped 1.1 million metric tons—something not seen since early 2003. Since January, global exchange stocks are up roughly 300,000 tons, a buildup that doesn’t line up neatly with prices that are still hovering near record highs. 6
The split matters for BHP. Iron ore remains the backbone of cash flow; copper, on the other hand, draws investors chasing growth and long-term “energy transition” bets.
Peers aren’t far behind, with their own updates coming up. Rio Tinto will unveil its 2025 annual results on Feb. 19, and Fortescue is set for half-year figures Feb. 25, the companies’ calendars show. 7
Still, sentiment could flip fast if commodities continue to slide or if BHP’s results reveal softer realised prices, rising costs, or a trimmed payout compared to what the market is expecting. The bear scenario? Iron ore stuck under $100, while copper’s run fizzles as demand loses steam.
