Three ASX 200 mining shares that are the largest players in their segments have been re-rated by analysts this week.
This follows all three companies releasing their 1H FY26 earnings.
Let's take a look.
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BHP Group Ltd (ASX: BHP)
The BHP share price is up 0.8% to $53.66 on Friday.
BHP is the largest ASX 200 mining share on the market. The company is a major iron ore and copper producer.
This week, BHP reported a 28% profit lift to US$5.64 billion for 1H FY26, and also announced a US$4.3 billion silver streaming agreement.
The news sent the BHP share price to a near-record high of $54.20. The all-time high is $54.55, set in mid-2021.
Following the 1H FY26 report, brokers reviewed their ratings and 12-month price targets for BHP shares.
Bank of America reiterated its buy rating and raised its target from $57 to $60.
Morgan Stanley kept its buy rating but cut its target from $56.50 to $55.50.
Ord Minnett retained its buy rating and lifted its price target from $51 to $54.
RBC Capital reiterated its hold rating on the ASX 200 mining share and lifted its target from $51 to $55.
Macquarie reiterated its hold rating and lifted its price target from $51 to $52.
UBS kept its hold rating but increased its target from $47 to $52.
Citi also kept its hold rating and raised its price target from $48 to $52.
Morgans maintained its hold rating and lifted its target from $48.60 to $49 per share.
Sandfire Resources Ltd (ASX: SFR)
The Sandfire Resources share price is down 0.63% to $18.85 on Friday.
Sandfire is the largest ASX 200 copper mining share on the market.
This week, Sandfire reported a 94% increase in net profit after tax (NPAT) to US$96.3 million for 1H FY26.
After reviewing the numbers, several brokers have revised their ratings and 12-month targets.
Morgans kept its hold rating on Sandfire Resources shares and increased its price target from $18.90 to $20.40.
Macquarie reiterated its hold rating with a price target of $20.10.
Morgan Stanley kept its sell rating on the ASX 200 copper mining share with a price target of $16.20.
Canaccord Genuity upgraded Sandfire Resources shares to a buy. The broker lifted its 12-month target from $19.50 to $21.
UBS maintained its sell rating and raised its target from $17.75 to $18.05.
The Sandfire Resources share price hit a record high of $21.75 last month.
PLS Group Ltd (ASX: PLS)
The PLS Group share price is down 0.8% to $4.35 at the time of writing.
PLS Group, formerly known as Pilbara Minerals, is the largest ASX 200 lithium mining share on the market.
This week, PLS Group reported a 241% lift in underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) to $253 million for 1H FY26.
The positive result prompted brokers to rethink their ratings and 12-month price targets.
Citi reiterated its hold rating with a price target of $5.25.
Morgan Stanley retained its buy rating on the ASX 200 lithium mining share with a price target of $5.
Bell Potter maintained its hold rating with a price target of $4.60.
RBC Capital reiterated its buy rating and lifted its PLS Group share price target from $5.10 to $5.20.
The PLS Group share price reached a two-and-a-half-year high of $5.16 last month.
