BHP Group Limited NPV (DI) (BHP)

Sector:

Mining

2,277.00p
   
  • Change Today:
      20.00p
  • 52 Week High: 2,700.00
  • 52 Week Low: 2,175.00
  • Currency: UK Pounds
  • Shares Issued: 5,064m
  • Volume: 249,355
  • Market Cap: £115,317m

BofA upgrades Rio Tinto and BHP to 'buy' on iron ore outlook

By Sean Farrell

Date: Friday 29 May 2020

LONDON (ShareCast) - (Sharecast News) - Bank of America upgraded its ratings on BHP and Rio Tinto to 'buy' because iron ore cash flows will attract investors looking for relatively safe dividends.
Global stimulus and the resumption of industrial activity are an "inflexion point" for metal demand that will benefit miners, BofA said. China is loosening financial conditions and stimulating economy and the price of iron ore is likely to rise 15% in 2020, the bank added.

BofA set a price target of £57 for Rio Tinto shares and £20.50 for BPH and added BHP to its Europe 1 list of top investment ideas. It said the "big change" was the more positive outlook for iron ore, which had gone against analysts' expectations. Brazilian output has been disappointing and Chinese steel production has been surprisingly strong, BofA said.

"With stimulus flowing through from China's recent NPC [national people's congress] and potential fiscal stimulus in [the rest of the world], it is now hard to see iron ore supply demand fundamentals weakening in near term," BofA analyst Jason Fairclough wrote in a note to clients. "We think it is reasonable to consider 'higher for longer' iron ore prices."

Rio Tinto and BHP are both high quality companies with strong balance sheets and solid assets, Fairclough said. They have predictable dividend policies with dividends backed by strong cash flows and are attractive relative to "cutters" such as banks and oil companies, he added.





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BHP Market Data

Currency UK Pounds
Share Price 2,277.00p
Change Today 20.00p
% Change 0.89 %
52 Week High 2,700.00
52 Week Low 2,175.00
Volume 249,355
Shares Issued 5,064m
Market Cap £115,317m

BHP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
94.56% above the market average94.56% above the market average94.56% above the market average94.56% above the market average94.56% above the market average
93.89% above the sector average93.89% above the sector average93.89% above the sector average93.89% above the sector average93.89% above the sector average
Price Trend
13.03% below the market average13.03% below the market average13.03% below the market average13.03% below the market average13.03% below the market average
48.25% above the sector average48.25% above the sector average48.25% above the sector average48.25% above the sector average48.25% above the sector average
Income
95.45% above the market average95.45% above the market average95.45% above the market average95.45% above the market average95.45% above the market average
82.61% above the sector average82.61% above the sector average82.61% above the sector average82.61% above the sector average82.61% above the sector average
Growth
74.33% above the market average74.33% above the market average74.33% above the market average74.33% above the market average74.33% above the market average
84.38% above the sector average84.38% above the sector average84.38% above the sector average84.38% above the sector average84.38% above the sector average

What The Brokers Say

Strong Buy 3
Buy 3
Neutral 8
Sell 2
Strong Sell 1
Total 17
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BHP Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Mar-24 07-Sep-23
Paid 28-Mar-24 28-Sep-23
Amount 72.00¢ 80.00¢

Trades for 28-Mar-2024

Time Volume / Share Price
13:30 139 @ 2,277.00p
13:30 139 @ 2,277.00p
13:30 135 @ 2,277.00p
13:30 103 @ 2,276.50p
13:30 144 @ 2,276.50p

BHP Key Personnel

Chair Ken MacKenzie
CEO Mike Henry

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