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BHP - BHP Group

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Six dollars is nothing in the variation of price in BHP over the last 2-3 years.

I hear your point though.

gg
 
Ann said:
BHP Poised to Cut Jobs as Streamlining Plan Progresses

BHP Group Ltd. will cut jobs in a continuing effort to reduce bureaucracy under a previously foreshadowed streamlining strategy, a person familiar with the matter said.

It is unclear how many jobs will be lost or when the reductions will begin, the person said, requesting anonymity because the move isn’t public. The changes come less than six weeks after the mining giant announced a major shake-up of its senior management, with the promotion of three women to key positions on its executive leadership board and the appointment of a chief transformation officer.


Earlier Saturday, The Australian newspaper reported that the mining giant would target more than 700 white-collar jobs which would be cut as soon as next week. More...
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Reading Australian it looks like next week there may be many more news coming to market . Ironically a share holdffect employees and
Garpal Gumnut said:
Whether you use Technical or Fundamental Analysis you have to buy low or at least on a runup.

This applies to all stocks.

I’ve had my franked buyback from BHP which puts my Super Fund into doublydigit yearly gain but I’m not going to add until it falls.

Just my opinion outwith of any tech performance, upper management brain farts or changes in government.

gg
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Just watch Monday market and thereafter.
 
BHP is through $40.

I still hold a reasonable amount.

I'm just a bit reticent about adding when everyone is saying I should.

I suppose I'm a contrarian.

The chart over the last 6 mo. shows a nice BO, and a 1,2,3,4,5 Elliot Wave pattern.

Is this part of a larger 1 and will a 1.2.3. occur for a larger 2. ?

bhp.gif


Decisions.

gg
 
The shutdown of Vale's mines and the forced closure of Western Australian ports by Cyclone Veronica in March caused a global iron ore shortage, driving up prices and buoying Australian miners' shares.
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It came as BHP released softer than expected March quarter results. The miner decreased its iron ore guidance by between 6 million and 8 million tonnes after Cyclone Veronica hit its Western Australian port operations in March.
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So Veronica was the driver of recent IO price rises, and Veronica also is partially to blame for today falls.......
 
Let us hope and pray that BHP falls to recent 5 year lows where I last bought them at $16.50 just over 3 years ago.

You only get one BHP in a lifetime, as Kerry Packer said.

gg
 
BHP is closely linked to the strength of China’s economy. Am I right? There is a high probability to make capital gain by buying companies like BHP in fire sales.China’s iron ore futures extended losses on Thursday after Brazil’s Vale SA said it was set to reopen an iron ore mine.
Analysts are expecting Jump in iron ore supply.
 
Garpal Gumnut said:
Let us hope and pray that BHP falls to recent 5 year lows where I last bought them at $16.50 just over 3 years ago.
You only get one BHP in a lifetime, as Kerry Packer said.
gg
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Commodity sentiment has waned and BHP is looking to dip under $36.50 in the coming week. Anything near $35 is value by my reckoning.
 
It will be interesting to see how this turns out for them financially....
BHP Billiton 'woefully negligent' over Brazil dam collapse

Mining giant BHP Billiton is facing a $5bn (£3.8bn) claim for damages over a dam collapse in Brazil in 2015.

Law firm SPG, which is representing than 200,000 Brazilian claimants, said the company "knew of the risks" at the Samarco mine in Minas Gerais state.

The claim, which was served at Liverpool's High Court on Tuesday, is the largest in UK legal history.

BHP, an Anglo-Australian firm listed in London, rejects all of the charges.

Tom Goodhead, partner at SPG, said: "The repeated warnings and recommendations of dam safety experts were acted upon too slowly, or sidestepped entirely.

"Driven by concern for declining revenues amidst the falling market price of iron ore, the company took risks, increased production and turned a blind eye to dangers that ultimately claimed lives and destroyed communities." More...


 
Ann said:
It will be interesting to see how this turns out for them financially....
BHP Billiton 'woefully negligent' over Brazil dam collapse

Mining giant BHP Billiton is facing a $5bn (£3.8bn) claim for damages over a dam collapse in Brazil in 2015.

Law firm SPG, which is representing than 200,000 Brazilian claimants, said the company "knew of the risks" at the Samarco mine in Minas Gerais state.

The claim, which was served at Liverpool's High Court on Tuesday, is the largest in UK legal history.

BHP, an Anglo-Australian firm listed in London, rejects all of the charges.

Tom Goodhead, partner at SPG, said: "The repeated warnings and recommendations of dam safety experts were acted upon too slowly, or sidestepped entirely.

"Driven by concern for declining revenues amidst the falling market price of iron ore, the company took risks, increased production and turned a blind eye to dangers that ultimately claimed lives and destroyed communities." More...
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While I hope the victims of the Samarco dam wall collapse get their due compensation, bear traders on BHP should not be jumping for joy.

BHP has barely moved today on a down day on the ASX.

At one stage BHP was looking at a $55 million civil suit which was negotiated down.

Provisions have been made and a writedown done 2 years ago on the books.

Matters have been complicated since a further tailngs dam collapse just recently has concentrated the mind of the Brazilian government to save it's own skin.

Vale the majority partner with BHP in the minority, have more to fear from any civil action in relation to Samarco.

gg
 
BHP hit with $7.2 billion claim for Brazil dam collapse

The world’s biggest miner, BHP (ASX: BHP), has been hit with the UK’s biggest damages claim of $7.2 billion for its part in the 2015 Fundao tailings dam failure in Brazil.


The failure of the dam killed 19 people and sent about 40 million cubic metres of toxic sludge through various communities on the Rio Doce river, before eventually spilling into the Atlantic Ocean 650km away and polluting beaches.


While the more recent January collapse of a Vale-operated tailings dam in the town of Brumadinho in Brazil killed an estimated 300 people, the Fundao dam collapse is still regarded as being the biggest environmental disaster in Brazil and has led to massive compensation and remediation work by BHP and its Samarco joint venture partner, Brazil’s Vale.


Claim made on behalf of 235,000 people

The claim was served on BHP by law firm SPG Law on behalf of 235,000 Brazilian individuals and organisations, including municipal governments, utility companies, indigenous tribes and the Catholic Church.


The claim argues that BHP was “woefully negligent” leading up to the 2015 Brazil dam failure, failing to act on repeated warnings from independent safety experts.


It also says that iron ore output was increased despite these safety concerns, placing the pursuit of profit over human and environmental risk.


Negligent BHP put profits ahead of people – claim More...
 
Ann said:
BHP hit with $7.2 billion claim for Brazil dam collapse

The world’s biggest miner, BHP (ASX: BHP), has been hit with the UK’s biggest damages claim of $7.2 billion for its part in the 2015 Fundao tailings dam failure in Brazil.


The failure of the dam killed 19 people and sent about 40 million cubic metres of toxic sludge through various communities on the Rio Doce river, before eventually spilling into the Atlantic Ocean 650km away and polluting beaches.


While the more recent January collapse of a Vale-operated tailings dam in the town of Brumadinho in Brazil killed an estimated 300 people, the Fundao dam collapse is still regarded as being the biggest environmental disaster in Brazil and has led to massive compensation and remediation work by BHP and its Samarco joint venture partner, Brazil’s Vale.


Claim made on behalf of 235,000 people

The claim was served on BHP by law firm SPG Law on behalf of 235,000 Brazilian individuals and organisations, including municipal governments, utility companies, indigenous tribes and the Catholic Church.


The claim argues that BHP was “woefully negligent” leading up to the 2015 Brazil dam failure, failing to act on repeated warnings from independent safety experts.


It also says that iron ore output was increased despite these safety concerns, placing the pursuit of profit over human and environmental risk.


Negligent BHP put profits ahead of people – claim More...
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As you may know from previous posts above I am hoping BHP fall in price, as they are a very good value share.

Unfortunately the little guys, indigenous, poor and powerless usually don't do well out of litigation against the powerful such as BHP.

BHP from the fundamental aspect seems to have taken the appropriate "hit" from this event and provisioned for a scenario where the litigants get some recompense. They were a minor partner with Vale.

The lawyers, politicians and head honchos in corrupt societies such as Brazil usually benefit.

As I said above BHP has fallen over the last few days but more due to global events, such as Trump tying his incontinence nappy too tight and having a brainfart against the Chinese, rather than this court case.

If I see BHP below $20 - $30 as it was just a few years ago, I'll be watching the charts daily and in like Flynn for a buying opportunity.

gg
 
Ann said:
As long as no-one does a T/O as they are falling. :)
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Which will show up in the charts when the Chairman or the CEO's mum tells someone when she is on the sauce somewhere.

That is why I prefer charts, even though I am a long term investor not a trader.

gg
 
rederob said:
Commodity sentiment has waned and BHP is looking to dip under $36.50 in the coming week. Anything near $35 is value by my reckoning.
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Got as slow as $36.15 and since then has risen to an 8 year high on Friday, having "gapped" 3 times during the week, closing at $40.30 on better than average volumes.
Although BHP has had a rocket rise since dipping to $13.48 on 29 January 2016, it's hard to see a reason for it to weaken much in the immediate term. It's current shot in the arm is an exceptionally strong iron ore price, but it's portfolio across the board is running at strong margins within a reasonably subdued commodities market.
I have it down for a "buy" should it drop to $30 as it's a long term hold at that price. Right now I reckon BHP is more likely to hit $45 than $30, but markets can be fickle!
 
rederob said:
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I have it down for a "buy" should it drop to $30 as it's a long term hold at that price. Right now I reckon BHP is more likely to hit $45 than $30, but markets can be fickle!
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Agree rederob. I added a few more BHPIWM instalments today.

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BHP W 140619.png
 
ASX announcement today
20/08/2019 8:18:57 AM BHP Results Presentation for the Year Ended 30 June 2019

BHP has delivered a record payout to shareholders but the global miner's underlying result has fallen short of expectations.

BHP more than doubled its full-year net profit to $US8.31 billion ($A12.27 billion) for the year to June 30 on the back of strong iron ore prices and easing costs associated with the 2015 Samarco dam disaster.

BHP's underlying profit from continuing operations fell by 2.0 per cent to $US9.46 billion following the divestment of US shale assets, short of consensus estimates of $US9.73 billion.

Including the shale assets, the company's underlying result was 2.0 per cent higher than last year's $US9.1 billion profit, but still under consensus expectations of $US9.4 billion.

The company declared a record final dividend of 78 US (about $A 1.13) cents per share, up from 63 US cents a year ago, for a record full-year dividend of $US2.35 per share (Payable September 25)



Share price today had a low of $35.64 but improved and finished at $36.30

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bigdog said:
ASX announcement today
20/08/2019 8:18:57 AM BHP Results Presentation for the Year Ended 30 June 2019

BHP has delivered a record payout to shareholders but the global miner's underlying result has fallen short of expectations.

BHP more than doubled its full-year net profit to $US8.31 billion ($A12.27 billion) for the year to June 30 on the back of strong iron ore prices and easing costs associated with the 2015 Samarco dam disaster.

BHP's underlying profit from continuing operations fell by 2.0 per cent to $US9.46 billion following the divestment of US shale assets, short of consensus estimates of $US9.73 billion.

Including the shale assets, the company's underlying result was 2.0 per cent higher than last year's $US9.1 billion profit, but still under consensus expectations of $US9.4 billion.

The company declared a record final dividend of 78 US (about $A 1.13) cents per share, up from 63 US cents a year ago, for a record full-year dividend of $US2.35 per share (Payable September 25)



Share price today had a low of $35.64 but improved and finished at $36.30

View attachment 96887

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Very interesting.

Where to from here?

gg
 
Could be another case that I often see where the report appears on the chart and is priced in before it's released to the masses.
If that is the case then we should be near a bottom now.

From an EW/Fib view there could be a bit more downside, the (red) support line actually coincides with the min W.4 retracement of 38.2% with the 50% retracement being at $32.20. In theory the turnaround area is between those two.

All just my :2twocents worth !

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BHP W 200819.png
 
Boggo said:
Could be another case that I often see where the report appears on the chart and is priced in before it's released to the masses.
If that is the case then we should be near a bottom now.

From an EW/Fib view there could be a bit more downside, the (red) support line actually coincides with the min W.4 retracement of 38.2% with the 50% retracement being at $32.20. In theory the turnaround area is between those two.

All just my :2twocents worth !

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View attachment 96889
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I would agree Boggo.

I'm surprised BHP didn't bounce more today.

The instos are still selling into any strength which makes me wonder if they know something that hasn't appeared in the announcement.

The brokers will be pushing it strongly over the next few days, but a further small drop is more likely until it hits support.

gg
 
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