BHP maintains iron ore production guidance, cuts outlook for copper and nickel

  • BHP (NYSE:BHP) reported its Q3 iron ore production fell less than 1% from the year-earlier quarter but kept its full-year guidance unchanged for iron ore as well as its thermal coal and metallurgical coal businesses.
  • Iron ore production from its Western Australia mines totaled 66.2M metric tons for the quarter ended March 31, compared with 66.7M tons in the prior-year period.
  • For the first nine months of the fiscal year, production from BHP's (BHP) Australian iron ore mines set a company record.
  • The miner reaffirmed its annual forecast for Western Australian iron ore production at 278M-290M tons, and forecast unit costs at the top end of a range of $18-$19/ton.
  • Q3 copper production jumped 10% Y/Y to 405.9K metric tons, but BHP (BHP) trimmed its production guidance for the Escondida copper operation in Chile for the full year through June to 1.05M-1.08M metric tons from 1.08M-1.18M tons previously, saying geotechnical challenges in a high-grade part of the pit have caused changes to the mine plan, resulting in less mined ore and the processing of more low-grade stockpiles.
  • Given the strong performance at the other copper assets, BHP (BHP) maintained full-year total copper production guidance at 1.635M-1.825M tons.
  • For its nickel business, BHP (BHP) lowered its annual production forecast to 75K-85K tons from 80K-90K tons previously, as its Australian nickel operations were hurt by heavy rainfall in early April.
  • BHP (BHP) has been attempting to increase its exposure to commodities such as copper; earlier this month, shareholders of copper and gold producer OZ Minerals approved a takeover plan by BHP.

    For this year the company, located in revenue will be around 56.16 billion GBp. This is according to the average of the analysts' estimates. This is rather significant lower than 2022's revenue of 65.1 billion GBp.

    Historical revenues and results BHP Group plus estimates 2023

    grafiek

    The analysts expect for 2023 a net profit of 14.82 billion GBp. Most of the analysts anticipate on a profit per share of 291 GBp. The price/earnings-ratio therefore equals 8.12.

    Huge dividend BHP Group

    For this year the analysts expect a dividend of 204 GBp per share. Thus the dividend yield equals 8.63 percent. The average dividend yield of the mining companies is a limited 0.12 percent.

    BHP Group 's market capitalization is based on the number of outstanding shares around 6960.47 billion GBp.

    Historical stock prices BHP Group

    stock bhpgroup

    At 14.59 the stock trades 1.74 percent lower at 2363.5 GBp.

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