We recently published The 7 best ASX shares to buy right now. BHP Group (NYSE:BHP) is one of the best ASX shares.
BHP Group (NYSE:BHP) is one of the largest mining companies in the world. The company made a major announcement on December 9 when it revealed BlackRock’s Global Infrastructure Partners would invest $2 billion in Western Australia’s Iron Ore inland power grid. Through the deal, BHP Group (NYSE:BHP) will retain operational control of the site and the two companies will create an entity in which the company will have a 51% stake. The mining company will pay a fee to the new entity corresponding to its participation.
Photo by Shane Cottle on Unsplash
Late November and early December also saw considerable action by analysts on BHP Group (NYSE:BHP) stock. For example, on December 3, JPMorgan raised its price target on the company’s shares to £2,300 from £2,100 and maintained a Neutral rating on the stock. On Nov. 24, Bank of America Securities maintained a Buy rating and a stock price target of A$49. BHP Group (NYSE:BHP) also made a major announcement on November 24 when it announced that it was “no longer considering” a combination with Anglo American plc. The company cited the “potential of its own organic growth strategy” as one of the reasons for abandoning a deal that many thought was a response to Anglo partnering with Teck Resources to create a major entity in the copper industry.
While we recognize BHP’s potential as an investment, our conviction lies in the belief that some AI stocks have more promise to generate higher returns and have limited downside risk. If you’re looking for an extremely cheap AI stock that’s also one of the biggest beneficiaries of Trump’s tariffs and offshoring, check out our free report on the best short-term AI stock.
READ NEXT: 30 stocks that should double in 3 years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article was originally published in privileged monkey.