BHP Group Ltd (ASX: BHP) shares are slipping today.
Shares in the S&P/ASX 200 Index (ASX: XJO) mining giant closed yesterday trading for $58.77. In morning trade on Tuesday, shares are swapping hands for $58.39 apiece, down 0.7%.
For some context, the ASX 200 is up 0.9% at this same time amid renewed hopes for a Middle East peace deal.
Taking a step back, BHP shares have surged 50.7% over the past 12 months, smashing the 3.5% one-year gains delivered by the benchmark index.
And that doesn't include the two fully franked dividends the big Aussie miner paid eligible stockholders over this period. BHP stock currently trades on a fully franked 3.4% trailing dividend yield.
Which makes this ASX 200 stock an appealing investment for Leanne Pan, a portfolio manager at Prime Value Asset Management.
Image source: Getty Images
Fund manager loads up on BHP shares
Pan invests in high yielding ASX stocks that also offer growth potential.
"I'm not one of those high-flying or sexy stock pickers who always know the big new thing," she said (quoted by The Australian Financial Review). "My approach is steady as she goes. I'm not chasing three-baggers."
Commenting on her penchant for buying ASX dividend shares, Pan said:
From my perspective, having dividends as part of your portfolio is a no-brainer. The index has returned on average about 8% to 9% a year for the last two decades. And in that, you have about 3% to 4% in dividends, so it is a very important component.
Out of all the ASX dividend stocks, BHP shares are Pan's largest position.
She explained:
BHP might sound boring from an investment perspective. But they do tick a lot of boxes: strong management, good cash flow, exposure to iron ore, copper, and potash, and you get to pocket a dividend.
What's happening with the ASX 200 miner's copper production?
Atop its growing potash ambitions, a crucial crop fertiliser, BHP has been actively growing its copper production.
And for good reason.
With the red metal in strong demand amid the world's push towards electrification and the booming growth of AI capable data centres, the copper price has surged 43% over the past year. Copper is currently trading for US$13,588 per tonne.
At the miner's half year results (H1 FY 2026) BHP revealed that copper drove more than 50% of BHP's earnings, surpassing iron ore for the first time. BHP reported half year copper earnings of US$8 billion.
At its third quarter update (Q3 FY 2026), released on 22 April, BHP shares closed up 1.2% with the miner reporting year to date copper production of 1,461 tonnes.
BHP received an average realised for its copper of US$5.47 per pound, up 31% year on year.
