Is BHP a buy?
Hi James Interested in MM's view on BHP at these levels. Do you think it's a buy if underinvested, or better prices ahead? Many thanks Alex
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Answer
Hi Alex,
We hold 8% of our Active Growth and Active Income Portfolios in BHP, slightly under market weight but this feels about right to us. especially as we have a Mineral Resources (MIN) position in our Active Growth Portfolio.
- We are bullish on China and iron ore stocks into 2024 believing the market is too bearish on the bulk commodity.
In terms of prices moving forward we will consider trimming above $50 and adding below $40, i.e. if its not broken don’t fix it!
