BHP Group Limited NPV (DI) (BHP)

Sector:

Mining

1,809.50p
   
  • Change Today:
    -14.50p
  • 52 Week High: 2,358.00p
  • 52 Week Low: 1,609.50p
  • Currency: UK Pounds
  • Shares Issued: 5,076m
  • Volume: 768,026
  • Market Cap: £91,850m
  • Beta: 0.00

Berenberg lowers target price on BHP

By Iain Gilbert

Date: Friday 12 Jul 2024

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg lowered their target price on mining giant BHP from 2,100.0p to 2,000.0p on Friday after the firm provided the market with clarity on the futures of its West Australian nickel business.
Berenberg, which stood by its 'hold' rating on the stock, noted that BHP's nickel business had been in focus due to its negative underlying earnings and free cash-flow performances - a function of weak nickel prices due to Indonesian oversupply and weak demand due to delays in the energy.

"Following an asset review, BHP will transition the operations to care and maintenance from July 2024, suspend operations from October 2024 and move to full care and maintenance by December 2024," noted Berenberg.

BHP has flagged that the nickel business will report an underlying loss of roughly $300.0m in FY24, better than the German bank's forecast $356.0m loss, and that it will take a $300.0m pre-tax impairment on the asset. BHP also guided to care and maintenance costs of approximately $300.0m per year, which includes exploration and take effect from January 2025.

"We update our model to incorporate the nickel operations being placed on care and maintenance, push out West Musgrave to commence operations in H2 CY28 and roll forward our NAV to FY25. The impact is a small increase to our future estimates given our expectation that the operations were loss-making," said Berenberg. "The stock is trading on 1.3x NAV and 5.4x EBITDA."

As of 0930 BST, Molten Ventures shares were down 1.11% at 385.17p.













Reporting by Iain Gilbert at Sharecast.com

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BHP Market Data

Currency UK Pounds
Share Price 1,809.50p
Change Today -14.50p
% Change -0.80 %
52 Week High 2,358.00p
52 Week Low 1,609.50p
Volume 768,026
Shares Issued 5,076m
Market Cap £91,850m
Beta 0.00

BHP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
67.05% above the market average67.05% above the market average67.05% above the market average67.05% above the market average67.05% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Price Trend
49.59% below the market average49.59% below the market average49.59% below the market average49.59% below the market average49.59% below the market average
3.76% above the sector average3.76% above the sector average3.76% above the sector average3.76% above the sector average3.76% above the sector average
Income
98.63% above the market average98.63% above the market average98.63% above the market average98.63% above the market average98.63% above the market average
90.48% above the sector average90.48% above the sector average90.48% above the sector average90.48% above the sector average90.48% above the sector average
Growth
3.37% above the market average3.37% above the market average3.37% above the market average3.37% above the market average3.37% above the market average
29.63% above the sector average29.63% above the sector average29.63% above the sector average29.63% above the sector average29.63% above the sector average

What The Brokers Say

Strong Buy 3
Buy 8
Neutral 4
Sell 1
Strong Sell 1
Total 17
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BHP Dividends

  Latest Previous
  Interim Final
Ex-Div 06-Mar-25 12-Sep-24
Paid 27-Mar-25 03-Oct-24
Amount 50.00¢ 74.00¢

Trades for 30-May-2025

Time Volume / Share Price
16:27 0 @ 1,813.00p
16:27 0 @ 1,813.00p
16:35 100 @ 1,809.50p
16:35 100 @ 1,809.50p
16:35 100 @ 1,809.50p

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