02/11/2023 09:16

BHP Group (BHP) $45.19

BHP won't enjoy any impact from potash on its revenue until 2026 at the earliest, but it will, over time, create a more environmentally friendly company as its earnings profile evolves, i.e. FY23 48% iron ore, 31% copper and 21% coal. The further expansion by BHP into potash was flagged/expected, but it reminded us that we like the direction this flagship Australian miner is heading.

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28/09/2023 09:23

BHP Group Ltd (BHP) $43.49

BHP’s revenue in FY23 were 47.9% from iron ore, 30.9% from copper and 21.2% from coal, with the company's “green evolution” seeing copper grow to 45% by 2025. We think their commodities mix is perfect at this stage, with coal and iron ore helping fund a greener runaway over the next decade.

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12/09/2023 09:26

BHP Group (BHP) $43.66

We increased our BHP position across two portfolios earlier in the month and at this stage we haven’t discounted adding again. We see value at the bottom of its trading range, believing the big Australian is ideally positioned with its tilt towards future facing commodities, particularly the growing focus on Copper which should account for around 45% of earnings by 2025.

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04/09/2023 09:48

Active Income Portfolio – Amendments

We are making multiple changes to the Income Portfolio.

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04/09/2023 09:42

Flagship Growth Portfolio – Amendment

We are adding to BHP, increasing by ~2% taking it up to an 8% portfolio weighting.

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22/08/2023 17:01

BHP Group (BHP) $43.21

BHP -.0.71%: A softer session for BHP following their FY23 results out this morning, with earnings coming in around 3% below consensus, while forward-looking capex was higher as cost pressures continue to work against the miners at a time when their biggest customer is wobbling.

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15/08/2023 09:08

BHP Group Ltd (BHP) $44.75

At MM we are fans of BHP with their commodities mix migrating away from iron ore over the coming years but we are underweight at present in our Flagship Growth Portfolio having lightened our position around $46.40, so far so good, just!

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03/08/2023 09:41

BHP Group Ltd (BHP) $45.85

Boring can be good, if such a thing exists in the stock market e.g. after the plunge in 2011 Commonwealth Bank (CBA) delivered both stellar gains and dividends. Today we’ve looked at fellow heavyweight BHP following on from our bullish medium-term outlook towards commodity prices and BHP’s migration towards Copper over the coming years. BHP is currently forecast to yield 5.8%  over the next 12 months although again this will clearly be commodity price dependant while cost pressures will also play a roll.

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25/07/2023 09:13

BHP Group Ltd (BHP) $44.34

Last week saw UBS downgrade BHP to a “sell”, we take our hat off to them for being prepared to go out on a limb but we don’t really agree. We trimmed our position in December around $46.40 in line with our short-term view of reducing above $46 and adding into weakness under $40

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20/07/2023 16:55

BHP Group (BHP) $44.62

BHP -0.11%:  finished slightly lower after reporting solid 4Q and FY production numbers this morning. In the quarter, they produced 72.7m tons of iron ore while Copper output increased 9% to 476,200 tons, thermal coal production gained 3%, while metallurgical coal was flat. FY Iron Ore production was in line with last year’s ¬285m ton.

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