BHP looks set to open above $49 this morning and a $50+ handle appears inevitable as the Resources Sector comes back into favour – the company paid a very attractive $US1.50 fully franked dividend last month and forecasts are for another $US1.45 in August, a yield that appears likely to maintain the loyalty of Australian investors. At this stage we would need a test of $55 for MM to consider lightening our position.
MM is bullish and long BHP
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