10 Best Australian Stocks to Buy According to Billionaires

2. BHP Group Limited (NYSE:BHP)

Number of Hedge Fund Holders: 28

Number of Billionaire Investors: 7 

Total Value of Billionaire Holdings: $1.14 billion

BHP Group Limited (NYSE:BHP) is an Australian multinational mining and metals company headquartered in Melbourne. It is one of the world’s largest mining companies based on market capitalization. The company specializes in the mining and selling of commodities, including iron ore, copper, coal, nickel, and potash. On March 7, Morgan Stanley analyst Rahul Anand maintained a Buy rating on the stock with a price target of A$48.50.

For the year ending in June 2024, the company reported a 3% revenue increase to $55.7 billion, mainly due to high iron ore and copper prices. However, attributable profit sharply dropped by almost 39%, from $12.9 billion in 2023 to $7.9 billion in 2024, due to lower energy coal and nickel prices. Moreover, during the first half of 2025, copper production increased by 10% year-over-year and iron ore production improved by 2% quarter-over-quarter. Higher iron ore production was aided by enhanced supply chain management; however, weaker demand from China remains a prominent concern. It is one of the best Australian stocks to buy according to billionaires.