Are top ASX mining stocks, BHP, RIO, WHC, a buying proposition ahead of their results?

BHP Group Limited (ASX: BHP) 

BHP Group Limited will release its HY26 results on 17 February and the company on 20 January reported a strong operational update for the half year ended 31 December 2025 with the added tailwind of a stronger Aussie Dollar.

The company delivered a solid performance which was supported by record concentrator throughput at Escondida and record first half production and shipments at WAIO in iron ore.
Total copper production remained broadly flat at 984 kt for the half but BHP raised its FY26 copper production guidance to between 1,900 and 2,000 kt which reflects improved asset performance.
Copper prices were also much higher as the average realised copper price rose 32% year-on-year to US$5.28 per pound which supports earnings strength.

BHP shares reached $52.64 during Thursday’s trade which marked the highest level since April 2022 and the stock currently offers an annual dividend yield of 3.32% with a P/E ratio of 20.57.
BHP is set to benefit from stronger global copper demand which is driven by electrification, renewable energy projects, data centres and electric vehicles.

Rio Tinto Limited (ASX: RIO) 

Rio Tinto Limited will release its FY25 results on 19 February and on 30 January 2026, the company agreed with Aluminum Corporation of China Limited (Chalco) and Votorantim to form a joint venture to acquire Votorantim’s controlling stake in Companhia Brasileira de Aluminio (CBA) in Brazil.

In the fourth quarter 2025 operations update, the company reported 8% year-on-year growth in copper equivalent production which was supported by progress at the Oyu Tolgoi underground mine.

Copper production rose 11% year-on-year in 2025 and exceeded the top end of guidance which positions Rio Tinto to benefit from electrification and energy transition demand.

Pilbara iron ore operations delivered record quarterly production as shipments recovered from earlier weather disruptions and full year guidance was achieved across all major product groups.

Major projects such as Simandou, Oyu Tolgoi and lithium expansions remain on track which are expected to support volume and earnings growth over the medium term, while the company currently offers an annual dividend yield of 3.50% and trades at a P/E ratio of 19.22.

Whitehaven Coal Limited (ASX: WHC) 

Whitehaven Coal Limited will release its HY26 results on 19 February 2026 and for the December 2025 quarter, the company delivered strong operating numbers across Queensland and New South Wales.
Managed ROM production increased 21% quarter-on-quarter to 11.0Mt while equity sales of produced coal rose 18% to 7.0Mt which reflects solid momentum across its core assets.

In Queensland, managed ROM production reached 5.6Mt which was 20% higher than the prior quarter due to favourable weather and better mining conditions at Daunia and Blackwater while New South Wales delivered 5.4Mt which was up 23% driven by higher output from Narrabri.
Metallurgical coal conditions strengthened during the quarter as the PLV HCC Index rose 9% quarter-on-quarter whereas thermal coal prices remained relatively stable.

Cost control remained central to the strategy and the company aims to achieve $60 million to $80 million in annualised cost savings by 30 June 2026.

Whitehaven reported net debt of about $0.7 billion at 31 December 2025 and with a current P/E ratio of 10.79, the market is valuing the company at a modest multiple which suggests investors are cautious about earnings strength and coal market direction.

(Source: Company Reports)