Australia’s largest company now has a market cap of $242bn; this diversified resource goliath currently enjoys ~50% of its revenue from iron ore and 30% from copper, with the latter increasing in the years ahead. We like the company’s revenue mix, although it’s not going to “pop” as fast as purer iron ore plays, such as Fortescue (FMG) and RIO Tinto (RIO) – the markets forecasted ~5% fully franked yield over the coming 12-months may prove too conservative as iron ore remains strong.
- We hold BHP Group (BHP) in our Active Growth and Active Income portfolios; we would want more than $50 before considering trimming these holdings.
MM remains long and bullish BHP into 2024
Add To Hit List
