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    BHP   AU000000BHP4

BHP GROUP LIMITED

(BHP)
  Report
Delayed Australian Stock Exchange  -  01:10 2022-10-04 am EDT
40.07 AUD   +3.81%
04:40aBHP Group to Reportedly Get Three LNG-Powered Bulk Carriers in Middle of 2023
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03:12aBhp : South Flank - speech, 4 October 2022
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02:04aBHP To Receive Additional Carriers Partly Powered By LNG
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Top three Aussie miners to shed $11 billion in market value as commodity rout accelerates

06/20/2022 | 12:53am EDT
FILE PHOTO: Photo of the logo of Fortescue Metals Group adorning their headquarters in Perth, Australia

(Reuters) - Australia's big three miners were on track to lose more than A$16 billion ($11.12 billion) in combined market value on Monday at current levels, as a commodities selloff over easing China demand and fears of a global recession deepened.

Rio Tinto's Australia-listed shares were set to shed nearly A$2 billion in value, BHP more than A$10 billion, and Fortescue Metals over A$4 billion.

Lower output from Chinese steel mills has hit demand for iron ore, while prices of commodities like copper and aluminium have slumped on worries that aggressive interest rate hikes by the U.S. Federal Reserve's and other central banks could tip the global economy into a recession. [MET/L]

The three Australian mining behemoths, so far this month, have already lost roughly A$30 billion of their combined market value, and are facing a third straight week of losses after hitting multi-week lows on Monday.

Rio Tinto and BHP are trading at a one-month low, while Fortescue is at a three-month low.

"Are we doomed? Or is it darkest before dawn?," Jefferies analysts wrote on Saturday with reference to recent economic data, China's COVID-19 lockdowns and the Fed's policy narrative.

They seemed to lean towards the latter, confident that the slowdown in demand for commodities would be followed by a recovery that would be led by miners, adding that recession fears and inflation would give way to recovery.

Analysts at JP Morgan also echoed risks to the sector but said fresh policy support along with easing COVID-19 lockdowns in China would spur a rebound in the second half of 2022, and maintained their "neutral" view on Rio Tinto and BHP.

Graphic: Aussie miners tumble in June amid commodity rout -

($1 = 1.4382 Australian dollars)

(Reporting by Shashwat Awasthi; Editing by Shailesh Kuber)

By Shashwat Awasthi


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.04% 0.6505 Delayed Quote.-11.58%
BHP GROUP LIMITED 3.81% 40.07 Delayed Quote.17.63%
FORTESCUE METALS GROUP LIMITED 1.65% 17.21 Delayed Quote.-11.87%
RIO TINTO GROUP 3.08% 95.97 Delayed Quote.-7.00%
RIO TINTO PLC 3.02% 5089 Delayed Quote.0.98%
S&P GSCI ALUMINUM INDEX 5.65% 148.5249 Real-time Quote.-21.18%
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Analyst Recommendations on BHP GROUP LIMITED
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Financials (USD)
Sales 2023 55 057 M - -
Net income 2023 15 876 M - -
Net Debt 2023 3 572 M - -
P/E ratio 2023 8,18x
Yield 2023 8,29%
Capitalization 132 B 132 B -
EV / Sales 2023 2,47x
EV / Sales 2024 2,66x
Nbr of Employees 45 295
Free-Float 96,9%
Chart BHP GROUP LIMITED
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Technical analysis trends BHP GROUP LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 26,10 $
Average target price 28,89 $
Spread / Average Target 10,7%
EPS Revisions
Managers and Directors
Mike Henry CEO & Non-Independent Executive Director
David Mark Lamont Chief Financial Officer
John Kenneth Norman MacKenzie Chairman
Laura Tyler Chief Technical Officer
Malcolm William Broomhead Independent Non-Executive Director
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