|Bid||38.45 x 1400|
|Ask||40.35 x 2200|
|Day's range||38.83 - 39.52|
|52-week range||23.64 - 51.87|
|Beta (5Y monthly)||1.01|
|PE ratio (TTM)||10.61|
|Forward dividend & yield||2.60 (6.69%)|
|Ex-dividend date||05 Mar 2020|
|1y target est||33.09|
Investors can retain BHP Group (BHP) stock in their portfolio, for the time being, on the company's solid prospects.
The world's top listed miner BHP Group <BHP.AX> said on Tuesday it had made its first yuan-denominated sale of iron ore to China Baoshan Iron & Steel Co Ltd <600019.SS> (Baosteel) and would explore using blockchain for such transactions in future. The sale of a Cape Size vessel of lump and fines, worth nearly 100 million yuan ($14.1 million), shows the Chinese currency is making further inroads in iron ore trading after Baosteel, the listed arm of the world's biggest steelmaker China Baowu Steel Group, bought iron ore from Brazil's Vale SA <VALE3.SA> in yuan in January.
Miner BHP Group <BHP.AX> <BHPB.L> said on Tuesday it plans to expand its iron ore export capacity from Port Hedland, the largest global shipping hub for the steel-making commodity, by up to 40 million tonnes a year to 330 million tonnes a year. The move comes as improvements across BHP's supply chain have opened the way to raise shipments if market conditions allow, Tim Day, BHP's Acting Asset President Western Australia Iron Ore, said in a statement. The company has begun community consultation, which could take four to six weeks, and would then apply to regulators for the added capacity in a process that is likely to take the rest of the year.
BHP Group (BHP) reports a 3% rise in iron ore production in the nine month period ended Mar 31, 2020 and also upholds its iron ore production guidance for the fiscal.
BHP Group on Tuesday reported a 6.3% rise in third-quarter iron ore production that slightly missed analyst estimates, and maintained its iron ore forecast despite global economic disruption caused by the coronavirus outbreak. The world's largest listed miner warned, however, that global steel production excluding China could drop sharply this year in light of the pandemic, and that capital spending in 2021 would be lower than its current outlook of $8 billion. The company kept its annual outlook for iron ore production unchanged at 273-286 million tonnes but said petroleum output would likely hit the bottom end of previous guidance of 110-116 million barrels of oil equivalent.
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Australia's highest court on Wednesday dismissed an appeal by BHP Group against a tax ruling, the latest loss for the global miner over the treatment of profits from commodities sold out of its Singapore marketing hub. BHP said in a statement the decision offered clarity on the interpretation of a technical area of Australian tax rules, and it would pay $87 million in additional taxes for income generated over 2006-2018. The dispute was over whether BHP should pay so-called "top up tax" in Australia on profits made by its Singapore marketing hub from selling coal from an Australian mine owned by the UK side of BHP's dual-listed structure, BHP Group Plc.
BHP Group <BHP.AX> <BHPB.L> is in good shape to take action should supply chain disruption caused by the global coronavirus epidemic trigger acquisition opportunities, the global miner's Chairman Ken MacKenzie said on Tuesday. "On balance, the business is in very good shape," MacKenzie said, speaking at the Australian Financial Review summit in Sydney. The virus, which originated in China, has now spread to at least 105 countries and territories and global economic growth is now expected to take a serious hit.
Woodside will hold a 73.5% stake in each of the titles, while BHP will hold the remaining 26.5%. Woodside earlier held a 75% stake in the W-1-R permit, while the W-62-R was held 50% each by BHP and Woodside. Woodside has been looking to line up gas sales and sell down part of its stake in Scarborough to help fund the project, but talks had been slowed by travel curbs and weak gas prices following a coronavirus epidemic.
South Australia is putting A$250,000 ($166,000) up for grabs in a crowdsourcing competition to uncover more mineral reserves, as the industry taps expertise from a wide array of disciplines to find new large mineral lodes. "The competition offers the chance to combine geological expertise with new mathematical, machine learning and artificial intelligence to accelerate mineral discovery in the mineral-rich Gawler Craton," said Justin Strharsky of program facilitators Unearthed. Australia's minerals mapping sets are among the world's most advanced.
As bushfires and floods fuel public concerns in Australia about global warming, the country's powerful mining lobby is facing increasing pressure from investors to drop support for new coal mines, according to a dozen interviews with shareholders in global mining companies. Nearly a third of shareholders in BHP Group Ltd <BHP.AX> <BHPB.L>, the world's biggest miner, last year voted for resolutions to axe its membership in industry groups advocating policies counter to the Paris climate accord, which aims to limit global warming to "well below" 2 degrees Celsius.
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Billiton (BBL) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 1 (Strong Buy).
New South Wales thermal coal output fell 11% in the first half to 7 million tonnes, BHP said in its December quarter production report, but maintained its full year forecast of between 15-17 million tonnes. Elsewhere, BHP reported that Australian iron ore output was 68 million tonnes for the three months ended Dec. 30, nearly 2% lower than in the September quarter and slightly below a UBS estimate of 69.3 million tonnes. It was, however, 3% higher than a year ago and with car dumper maintenance work in October now finished, BHP maintained its full year iron ore forecast of 273 million tonnes to 286 million tonnes.
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