Company
LON:BHP
BHP Group Limited is a global leader in the resources industry. Formed from a merger between BHP and Billiton, the company is a leader in the extraction and sales of most natural resources and is particularly strong in Iron Ore, Coking and Thermal Coal, Copper, Zinc, Oil & Gas, Diamonds and most materials key to the production of steel.
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For the quarter ending 31 March 2018, the FTSE 100-listed firm saw its underlying replacement cost profit fall to US$2.4bn, down from US$2.6bn a year earlier but above forecasts for US$2.6bn
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After hitting a six-month high on Tuesday afternoon, London's blue-chips took a step back on Wednesday
UBS said the miner’s shares were up 15% in the year-to-date on the back of higher iron ore prices, however, these were expected to “fall back” over the next 12 months amid a normalisation of supplies from Australia and a recovery in output
The iron ore price remains high, following Vale's tailings dam disaster
Basic measures like dividend cover suggest a number of blue chips might be struggling to maintain their payouts at current levels
The FTSE 100-listed firm lowered its 2019 iron ore production forecast to 265mln-270mln tonnes, down from the 273mln-283mln tonnes expected previously
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On Wall Street, stocks were in the red at the time of writing despite positive Chinese data and a batch of positive earnings reports
The company is hoping to reach targeted funding agreements with various parties.
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UK inflation figures recently dropped below the Bank of England’s 2% target rate following lower commodity prices at the end of 2018
JV partners CZI and Oz Minerals aim to confirm the West Musgrave project's potential with a Nebo-Babel PFS.
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There will be plethora of UK data - jobs, inflation, and retail sales - plus corporate updates from the likes of Unilever, BHP Rio Tinto, Bunzl and Rentokil Initial
While the index does contain the heavyweights of the London market, they're not the most reliable indicator of how the UK's markets are actually performing
The company holds the Torrens project with Aeris Resources, a copper producer at the Tritton operations in NSW.
Deutsche Bank’s analysts estimate a 12-month total return of around 25% from the stock, while over the medium term, based on a 2022 exit rate, they see a blue-sky scenario of 3,000p
The news comes a day after Rio Tinto revealed the extent of the damage on production that the storm had caused
Investments and investor services
Footsie closed at 7,279, up nearly 45 points on the day
First polyhalite production is earmarked for the final quarter of 2021, but City broker Shore Cap thinks the high-tech equipment being used to construct the mine shafts could shave months off that
Other iron ore miners likely to benefit from increased price
The anomaly has 28 distinct target zones and a larger footprint than Olympic Dam.
