Original article by Tom Richardson
The Australian Financial Review – Page: 27 : 14-Dec-22

Shares in BHP have gained 36 per cent in US dollar terms since the end of October. However, UBS analyst Lachlan Shaw says the firm believes that the stock has risen too quickly in a short period of time. UBS has a ‘sell’ rating on BHP and rival iron ore producers Rio Tinto and Fortescue Metals Group. The firm also expects the iron ore price to trade at around $US100 a tonne over the first half of 2023, compared with about $US112/tonne at present; it is then forecast to fall to around $US95 a tonne in the December 2023 quarter. UBS is more upbeat about commodities such as gold, coal, zinc and lithium.

CORPORATES
BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, UBS HOLDINGS PTY LTD