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Prices & Quotes - UK Markets - BHP Group (BHP)

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Share Price:
Up 1,897.80p
Change Today:
41.60p
Market Cap:
40,083m
Sector:
Mining

BofA upgrades Rio Tinto and BHP to 'buy' on iron ore outlook

By Sean Farrell

Date: Friday 29 May 2020

LONDON (ShareCast) - (Sharecast News) - Bank of America upgraded its ratings on BHP and Rio Tinto to 'buy' because iron ore cash flows will attract investors looking for relatively safe dividends.
Global stimulus and the resumption of industrial activity are an "inflexion point" for metal demand that will benefit miners, BofA said. China is loosening financial conditions and stimulating economy and the price of iron ore is likely to rise 15% in 2020, the bank added.

BofA set a price target of 57 for Rio Tinto shares and 20.50 for BPH and added BHP to its Europe 1 list of top investment ideas. It said the "big change" was the more positive outlook for iron ore, which had gone against analysts' expectations. Brazilian output has been disappointing and Chinese steel production has been surprisingly strong, BofA said.

"With stimulus flowing through from China's recent NPC [national people's congress] and potential fiscal stimulus in [the rest of the world], it is now hard to see iron ore supply demand fundamentals weakening in near term," BofA analyst Jason Fairclough wrote in a note to clients. "We think it is reasonable to consider 'higher for longer' iron ore prices."

Rio Tinto and BHP are both high quality companies with strong balance sheets and solid assets, Fairclough said. They have predictable dividend policies with dividends backed by strong cash flows and are attractive relative to "cutters" such as banks and oil companies, he added.





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BHP Group Market Data

Currency UK Pounds
Price 1,897.80p
Change Today 41.60p
52 Week High 1,901.60p
52 Week Low 939.80p
Volume 6,535,238
Shares Issued 2,112.07m
Market Cap 40,083m

Performance Indicators

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What The Brokers Say

Strong Buy 13
Buy 0
Neutral 7
Sell 1
Strong Sell 1
Total 22
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BHP Group Dividends

  Latest Previous
  Final Interim
Ex-Div 03-Sep-20 05-Mar-20
Paid 22-Sep-20 24-Mar-20
Amount 55.00¢ 65.00¢

Trades for 03-Dec-2020

Time Volume / Share Price
16:43 315,308 @ 1,897.80p
16:38 96 @ 1,897.80p
16:38 100 @ 1,897.80p
16:38 100 @ 1,897.80p
16:38 10,000 @ 1,897.80p

BHP Group Key Personnel

Chair Ken MacKenzie
CEO Mike Henry