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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  BHP Group Ltd    BHP   AU000000BHP4

BHP GROUP LTD

(BHP)
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End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 09/23
37.62 AUD   -0.34%
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09/22BHP expects to meet iron ore commitments despite Jimblebar maintenance
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09/19MATERIAL MATTERS : Iron Ore, Coal & Rutile
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BHP chief to 'stick up for globalisation' as trade tensions bite

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08/20/2019 | 07:50am EDT
Mackenzie is silhouetted against a screen projecting the company's logo at a round table meeting with journalists in Tokyo

LONDON (Reuters) - The head of the world's biggest miner BHP said he will "stick up for globalisation" and is more worried about the damage trade tensions are inflicting on the world economy than their impact on demand for the commodities BHP produces.

BHP on Tuesday posted annual profit of $9.12 billion (£7.54 billion), a bumper figure built largely on selling iron ore, coal and copper to China, the world's largest importer of commodities

BHP shares were trading 1.6% lower by 1130 GMT, as despite record dividends, analysts said they had expected even better results.

CEO Andrew Mackenzie told reporters in London protectionism was an act of economic self-harm.

"Economically this is causing disruption and the partial unravelling of global supply chains," Mackenzie said. "We're not completely immune to some form of downturn and that's why we're nervous."

Asked whether commodity cycles had peaked, he said he did not know, adding the company was "anxious but ready".

Prices of iron ore, which represents nearly 50 percent of BHP's core earnings, have fallen as the impact eases of supply disruption at the start of the year caused by a dam disaster in Brazil and extreme weather in Australia.

Trade tensions between the United States and China have also impacted market sentiment.

Mackenzie said he would stick up for the benefits of globalisation and opposed moves towards greater intervention such as removing the independence of central banks.

"The people advocating this are committing economic self-harm," he said.

U.S. President Donald Trump has repeatedly criticised the U.S. Fed, accusing it of undermining the administration's economic policies.

(Reporting by Barbara Lewis; Editing by David Holmes)

By Barbara Lewis

Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP LTD -0.34% 37.62 End-of-day quote.10.28%
BHP GROUP PLC -1.20% 1766 Delayed Quote.8.31%
CRB COMMODITY INDEX 0.10% 195.01 End-of-day quote.0.00%
EURO / BRAZILIAN REAL (EUR/BRL) -0.28% 4.5724 Delayed Quote.3.72%
LME COPPER CASH 0.33% 5777.5 End-of-day quote.-1.05%
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Financials (USD)
Sales 2020 46 154 M
EBIT 2020 18 716 M
Net income 2020 11 291 M
Debt 2020 9 840 M
Yield 2020 5,82%
P/E ratio 2020 11,4x
P/E ratio 2021 13,4x
EV / Sales2020 2,87x
EV / Sales2021 2,94x
Capitalization 122 B
Chart BHP GROUP LTD
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Technical analysis trends BHP GROUP LTD
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 25,96  $
Last Close Price 25,55  $
Spread / Highest target 18,6%
Spread / Average Target 1,62%
Spread / Lowest Target -20,3%
EPS Revisions
Managers
NameTitle
Andrew Mackenzie CEO & Non-Independent Executive Director
John Kenneth Norman MacKenzie Chairman
Daniel Malchuk President-Americas Minerals Operations
Steve Pastor President-Petroleum Operations
Mike Henry President-Minerals Australia Operations
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