BHP.AX Stock Today: February 18 – H1 Beat, 73c Dividend, Copper Guide Up

The BHP share price is in focus on 18 February after H1 results showed a 25% rise in Underlying EBITDA to US$15.5bn, a US$0.73 interim dividend, and stronger copper guidance. We see BHP.AX trading near A$52.74, up about 3.1% intraday, with volume above average. Record WAIO output, a new silver streaming deal, and copper now 51% of EBITDA sharpen the case for the BHP share price as income and growth buyers reassess the stock on the ASX.

BHP share price today: H1 beat and market reaction

The BHP share price traded around A$52.74, up 1.61 or 3.1% by mid-session, after opening at A$53.00. The range stretched from A$52.72 to A$54.20 as volume reached 13.6m versus an 8.6m average. Market cap stands near A$255.7bn. The BHP ASX move tracked a stronger resource tape as investors responded to better operating metrics and a higher quality earnings mix.

BHP reported a 25% lift in Underlying EBITDA to US$15.5bn and declared a US$0.73 interim dividend at a 60% payout for the half year to 31 December 2025. Copper rose to 51% of group EBITDA while WAIO delivered record output. Management also raised FY26 copper guidance to 1.9–2.0 Mt. Source: company release.

The BHP share price caught a bid on improved copper leverage, robust iron ore cash generation, and a silver streaming deal expected to unlock over US$6bn of cash. Together, these support near-term yield and medium-term growth. Broader ASX sentiment also helped, with local coverage highlighting resources leadership today source.

Copper now drives the story

Copper is now BHP’s largest earnings engine, contributing 51% of EBITDA in H1. Management raised FY26 copper guidance to 1.9–2.0 Mt, signalling confidence in assets and market demand. For the BHP share price, a higher copper mix can reduce reliance on iron ore cycles and improve valuation resilience when the industrial metals cycle stays firm.

Record WAIO output anchored cash flow, funding copper growth and dividends. Stable iron ore volumes and disciplined costs provide a buffer if copper prices pause. This base strengthens the BHP ASX investment case by pairing a reliable cash generator with a rising copper platform, improving visibility on capital returns and reinvestment through FY26.

For income and growth buyers, the H1 mix shift is a positive. A copper-weighted EBITDA base, plus a firm dividend, improves total-return potential. The BHP share price can benefit if copper tightness persists, while iron ore steadiness limits downside. Execution on guidance and cost control remain the swing factors for BHP earnings from here.

Dividend, cash and balance sheet

BHP declared a US$0.73 interim dividend at a 60% payout ratio. On trailing numbers, dividend yield is around 3.4%. The combination of higher copper earnings and iron ore cash flow supports distributions. For the BHP share price, dependable income plus growth optionality can draw both retirees and super funds seeking balanced exposure on the ASX.

A new silver streaming deal is expected to unlock over US$6bn of cash, supporting balance sheet strength and capital flexibility. Management can fund growth, sustain dividends, and keep gearing moderate. That reduces financing risk through the cycle, a supportive backdrop for BHP earnings quality and the BHP share price over the next 12 to 24 months.

Valuation and technical setup on ASX

At A$52.74, BHP trades on a PE near 20.1 and EV/EBITDA about 8.3, with a ~3.4% trailing yield. Price sits above the 50-day at A$47.52 and the 200-day at A$42.35, reflecting a strong uptrend. Our composite grade is B+ with a BUY suggestion, while a recent model rating showed A- on quality metrics.

The BHP share price tested A$54.20 intraday. Immediate support sits near A$52.70 and the Bollinger middle band around A$49.98. RSI is 54.2, ADX 28.2 signals a strong trend, and the MACD histogram is slightly negative. A sustained hold above A$52.50 keeps momentum positive; dips toward A$50 may invite buyers.

Final Thoughts

BHP’s half-year delivered what the market wanted: stronger copper leverage, steady iron ore cash, and a clear capital return. The BHP share price reacted with higher volume as investors weighed a 25% EBITDA rise to US$15.5bn, a US$0.73 interim dividend at 60% payout, and raised FY26 copper guidance to 1.9–2.0 Mt. Technically, price holds above the 50-day at A$47.52 with ADX showing a strong trend, while support around A$52.50 and A$50 are levels to watch. For positioning, we see income plus growth appeal: hold core exposure if already long, consider adding on pullbacks toward A$50, and monitor copper prices, WAIO run rates, and any updates to the silver stream timeline. As always, align decisions with your risk profile and time horizon.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.