Midland Exploration is advancing its copper-nickel exploration in Nunavik, following extensive work from 2020 to 2024 that revealed promising new mineralized locations. This initiative is part of a strategic partnership established in August 2020 between Midland Base Metals, a subsidiary of Midland Exploration, and Rio Algom, a company under BHP Group (BHP, Financial).
The exploration program for 2025 will concentrate on investigating a newly identified major crustal-scale structure and related faults, revealed through regional surveys in 2022 and 2023. These areas have shown potential for copper-nickel deposits. The upcoming program includes an airborne HeliTEM time-domain electromagnetic survey.
Key findings from the recent surveys include the identification of a major crustal structure in a sparsely explored region believed to be conducive to copper-nickel mineralization. A survey in July 2023, using 1,383 samples, detected numerous copper-nickel anomalies. Additionally, a helicopter-based electromagnetic survey covering around 8,900 kilometers highlighted several new conductive features. Further prospecting in 2024 pinpointed new copper-nickel-cobalt mineralized intrusions. The region's exploration will continue with an extensive airborne survey planned for June 2025, covering roughly 6,600 kilometers.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for BHP Group Ltd (BHP, Financial) is $51.56 with a high estimate of $58.00 and a low estimate of $49.00. The average target implies an upside of 4.32% from the current price of $49.43. More detailed estimate data can be found on the BHP Group Ltd (BHP) Forecast page.
Based on the consensus recommendation from 7 brokerage firms, BHP Group Ltd's (BHP, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for BHP Group Ltd (BHP, Financial) in one year is $52.95, suggesting a upside of 7.12% from the current price of $49.43. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the BHP Group Ltd (BHP) Summary page.
