Business
ASX mining shares boosted today after broker upgrades
ASX mining shares were given a boost today, on news that Goldman Sachs analysts have upgraded the broker’s iron ore and copper price forecasts, and raised the target prices for some big miners.
Which shares were upgraded
Goldman Sachs has upgraded its target prices for the big three mining companies: BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO), and Fortescue Metals Group Limited (ASX: FMG).
The broker said BHP was the best share to play the strong copper price, and lifted the miner’s earnings estimates for the 2021 and 2022 financial years by 26% and 37% respectively.
Goldman lifted its price target for BHP by 8% to $45, and rated the shares a “buy”.
The broker also raised Rio Tinto’s earnings forecasts for…
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