Australian (ASX) Stock Market Forum

BHP - BHP Group

Jump to new
@debtfree BHP was always going to be a difficult one to win the comp starting at $50.

And so it has happened. It trades closer to $40 and is captive to Iron Ore. Its litigation problems in S.America would seem to be behind it and I expect a better 2nd half to the calendar year.

In summary : 1. It is BHP 2. It pays a reasonable divi. 3. It is BHP.

I'll be buying more on any further weakness.

gg
 
Garpal Gumnut said:
@debtfree BHP was always going to be a difficult one to win the comp starting at $50.

And so it has happened. It trades closer to $40 and is captive to Iron Ore. Its litigation problems in S.America would seem to be behind it and I expect a better 2nd half to the calendar year.

In summary : 1. It is BHP 2. It pays a reasonable divi. 3. It is BHP.

I'll be buying more on any further weakness.

gg
Click to expand...
will probably need to be a lot weaker to tempt me to buy extra

say something close to a 2 handle ( sub $30 )

but maybe BHP can make a ( recent) turn i like .. already factored in is a special div. from the coal mines offload to WHC ( no guarantee it will happen , but i doubt it will be enough for me to lift my target )
 
I have been watching BHP for a little while now, looking for an entry point.
The 5 year daily chart would suggest to my ignorant T/A perspective that for he last two years, around 42 has been the point.
But then looking at a straight line from the lows would suggest it has fallen out of the upward channel.
What say ye ASF members, how does BHP look for the next 12 to 18 months?
Mick

1720496983635.png
 
Dona Ferentes said:
as @Chipp said in the RXM thread:
BHP has the motherlode in the bottom drawer " AD23 - 425.7 m @ 3.04% CU " for when they feel the need to develop new mines
Click to expand...
Yes, I read that but I was somewhat perplexed.
Given it was posted in the RXM thread, I assumed he was referring to the RXM resource when he referred to the motherlode in the bottom drawer.
Yet I thought RXM was purchased by Salim rather than BHP.

One can only guess that he means BHP can buy the mine from Salim, or buy Salim.
Either way, BHP will be paying a premium.
They could have bought the resource with the BHP executives lunch money.
It highlights why I have forever been just to wary to bit the bullet on BHP.
Mick
 
THe finicky boutique technical analysts are in a huddle debating this very question @mullokintyre. They might come up with a call in the weeks ahead, but one that they have already signalled will not be unequivocal. It's not an obvious chart but the crew pays your long term broken uptrend observation - that's not to be ignored.

Not far off significant support at $42 which is a risk to be broken if buying now.
Weekly volume bars are more negative over the past 4 months, i.e selling is stronger. The fact that its been charting at lower peaks for the last 6 months while the lows are flat at $42 is not positive. Buying now might work out but is a pure punt on $42 holding in their opinion. Safer would be a buy on a weekly break above 6 months downtrend resistance currently at ~$44-45 (put a ruler across the peaks). Safer still a buy on a break above $46 level resistance but would obviously sacrifice a lot. There's a chance a few say that its just been trading in a rectangular range for one and a half years btw ~$50 and $42 while working off 7 years of exuberance, others are pondering 'double top'.

Held long term
Holding

WEEKLY
big (16).gif
 
an interesting take..

my read: with RXM receiving a takeover from Salim, the Rex boss moaned that he had to shop the project around, and that BHP wasn't interested because they usually took on operating mines rather than develop such greenfields sites themselves.

And Chipp chipped in that BHP a big enough future development (the motherlode) in their portfolio, with the implication, why would they bother with Rex?

At some time, I felt like saying that BHP get criticised for buying anything that comes along, and get criticised for not buying everything that comes along. But I didn't say that then, because I'm a nice person.
 
mullokintyre said:
I have been watching BHP for a little while now, looking for an entry point.
The 5 year daily chart would suggest to my ignorant T/A perspective that for he last two years, around 42 has been the point.
But then looking at a straight line from the lows would suggest it has fallen out of the upward channel.
What say ye ASF members, how does BHP look for the next 12 to 18 months?
Mick

View attachment 180292
Click to expand...
tries to invest in HUGE ( tier one ) assets which translates into long-winded complicated projects ( and has had it's share of about-turns after the acquisition )

BHP used to have oodles of oil , coal , steel-making .. but where is the next stream of profits ( from operating assets , not sales ) going to come from , in a world hinting of a sagging economy and sanctions

i hold a reasonable amount of BHP ( mostly bought before the S32 demerger ) i do not see a game-changer that will tempt me to add more in the near future ( for example no news on what it will do with all the minority interests in mines it inherited when it acquired OZL )
 
It will be productive at some stage . Looking for DFS in next couple years i believe

"
“The Oak Dam exploration project is progressing with 12 rigs currently on site, 150 kilometres of drilling completed, a core processing facility on-site and 150-person accommodation camp nearly complete.

“We’re also exploring in an area below the known Olympic Dam deposit, known as Olympic Dam Deeps.”

Hopfully we get some more info/updates re Oaks in this upcoming

ScreenShot964.jpg
 
Does your Data include Dividends?
Were there any in the days you have shown above?
Do you or anyone else know if Trading View Includes them in their data?
I think I saw a Button there Once
 
Big trouble in little W.A.

www.abc.net.au

Redundancies and redeployments on offer for 1,600 people as BHP shuts nickel mines

Mining giant BHP has announced it’s putting its WA nickel mines on ice for at least three years, blaming an "oversupply in the global nickel market."
www.abc.net.au www.abc.net.au

Mining giant BHP has announced it's putting its WA nickel mines on ice for at least three years, blaming an "oversupply in the global nickel market."

In a statement on Thursday afternoon, BHP said it would begin suspending its operations at the Kwinana nickel refinery in Perth, the Kalgoorlie smelter and its major mines at Mt Keith and Leinster from October.
 
Oh wow, I wonder if this is a snippet of what's to come in the Australian mining industry.

BHP has been particularly struggling to compete against nickel harvested in and sold from Indonesia and China, with experts saying cheap, low-grade nickel pig iron has contributed to the price of the mineral dropping.

The Australian multinational mining and metals company's nickel division is expecting to report a loss of $450 million last financial year.
au.finance.yahoo.com

Thousands of jobs in limbo as mining giant announces shock shutdown: 'Difficult'

BHP said the 'global oversupply' of nickel has been too much to bear.
au.finance.yahoo.com au.finance.yahoo.com
 
TimeISmoney said:
Oh wow, I wonder if this is a snippet of what's to come in the Australian mining industry.

BHP has been particularly struggling to compete against nickel harvested in and sold from Indonesia and China, with experts saying cheap, low-grade nickel pig iron has contributed to the price of the mineral dropping.
Click to expand...
at least the BHP focus on Tier 1 assets in safe jurisdictions allows for some resilience. But size is an inhibitor of flexibility.
 
divs4ever said:
well Albo has been part of the problem over the decades , he and his mates ( including in State Government ) have been making Australian extraction/processing and export less and less competitive ,

and obviously Indonesian administration are better at maths ( and often part-owner of the mining companies )
Click to expand...
I think the ship has long sailed here, even if we turned the clock back to the 90s we couldn't compete on an economic scale.
 
Top