BHP shares near priciest valuation since 2021 on shift to miners

BHP stock is nearing its highest valuation in four years, trading at approximately 14 times forward earnings, driven by a shift from banks to mining amid a resurgence in Australian material shares. The mining sector is recovering from previous struggles due to China’s economic slowdown, with BHP shares closing at $41.47 on Monday as the “great rotation” continues.

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