 Analysts at UBS have downgraded their ratings for BHP Group Ltd LSE:BHP, ASX:BHP and Rio Tinto PLC LSE:RIO to Sell from Neutral as they think both FTSE 100-listed miners have seen their stock move too far, too fast. In a note to clients, the Swiss banks analysts said: In our opinion, the macro backdrop for commodities the miners improved in November when China started to ease Covid restrictions announced meaningful property stimulus; this was boosted by the Fed pivot the USD starting to weaken. 