BHP

Note: This is a daily stock update and the information stands true as of 17/11/25, 09:00 CET.

Company Update:
On Friday, a London High Court ruled that BHP was found guilty / legally liable for the 2015 Samarco tailings dam burst disaster. Compensation will be decided later in a trial scheduled for October 2026 but the victims are seeking £36bn in compensation. Each firm (BHP and Vale) has already paid or provisioned more than $13bn in the matter, meaning that the marginal potential cost is limited. Moreover, BHP announced it will appeal the verdict. 

Expert Opinion: 
The stock went down c 3% on Friday after the news broke, reflecting the relatively marginal potential financial impact, if eventually the group is deemed liable. While our top analyst on the name remains positive on the name due to its fundamental qualities and his long-term view on main commodities, he suggests Rio Tinto (also a BUY with 36% upside) will outperform BHP for the time being, as uncertainty is likely to last. Our expert also personally likes Glencore, which offers similar fundamental qualities and still lags the sector on a 1-year basis.  


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