BHP Group Ltd (ASX: BHP) shares are edging lower today, which could offer an opportune buying opportunity.
Shares in the S&P/ASX 200 Index (ASX: XJO) mining giant closed on Friday trading for $67.30. In morning trade on Monday, shares are swapping hands for $66.55 apiece, down 1.1%.
For some context, the ASX 200 is just about flat at this same time.
Taking a step back, one year ago, you could have bought BHP shares for just $42.70 apiece. You'd then have enjoyed the whopping 55.9% share price gains over the past 12 months.
And that doesn't include the two fully-franked BHP dividends, totalling $2.431 a share, that the miner has paid (or shortly will pay) for the full 2026 financial year (FY 2026).
At the current share price, BHP stock trades on a fully-franked dividend yield (partly trailing and partly pending) of 3.7%.
And looking ahead, Morgans' Damien Nguyen forecasts more outperformance to come from Australia's biggest miner and the biggest stock on the ASX by market cap (courtesy of The Bull).
Here's why.
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Should I buy BHP shares today?
"BHP offers exposure to a portfolio of high-quality mining assets and remains well positioned to benefit from long term demand for copper and other critical minerals," Nguyen said.
Citing the first reason you might want to buy BHP shares today, he said, "A strong operating performance, healthy cash generation and a disciplined approach to capital allocation continue to support the investment case."
Nguyen added:
BHP appeals for potential capital growth, income and for diversified resources exposure. The company posted an attributable profit of US$9.8 billion in full year 2026, up 9% on the prior corresponding period. Revenue of US$58.8 billion was up 15%.
Then there's BHP growing investment and returns from its copper mining operations.
"While iron ore remains important, increasing copper exposure provides leverage to electrification and decarbonisation trends," Nguyen said.
Indeed, for FY 2026, the ASX 200 miner reported a 48% year-on-year increase in underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) from its copper division to US$18.2 billion.
That represented 54% of the miner's full-year earnings. And it marked the first time its copper division accounted for the majority of BHP's full-year earnings, taking that mantle from its iron ore operations.
As for the third reason you might want to buy BHP shares today, Nguyen concluded, "BHP recently declared a final fully franked dividend of 99 US cents a share."
That equates to AU$1.392 per share (according to CommSec).
And that final passive income payout is still up for grabs.
If you want to bank the final BHP dividend, you'll need to own shares at market close on Wednesday, 2 September. BHP trades ex-dividend on Thursday. You can then expect to be paid on 23 September.
