|Bid||54.11 x 800|
|Ask||56.31 x 1100|
|Day's Range||56.15 - 56.64|
|52 Week Range||46.21 - 59.02|
|Beta (5Y Monthly)||0.98|
|PE Ratio (TTM)||17.62|
|Forward Dividend & Yield||2.66 (4.79%)|
|Ex-Dividend Date||Sep 03, 2019|
|1y Target Est||44.86|
BHP Group (BHP) reported year-over-year increase in copper and iron ore production during the first half of fiscal 2020 and maintains guidance for fiscal 2020.
BlackRock has set out plans to rid its portfolio of coal companies. But for diversified miners that dig up an array of products, it’s not obvious which companies will be axed from the fund management giant’s active funds and which will stay.
Mining giant BHP Group said on Tuesday that poor air quality caused by smoke from Australia's bushfires is hurting coal production, as authorities cautioned a reprieve from hazardous fire conditions could end within days. The warning from the world's biggest miner underscores how an unusually long bushfire season that has scorched an area one-third the size of Germany is damaging the world's No. 14 economy. Australia's tourism and insurance industries have already foreshadowed they face a A$1 billion ($687 million) hit each from the fires.
BHP (BHP) has been upgraded to a Zacks Rank 1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
(Bloomberg) -- BlackRock Inc. will cut exposure to thermal coal as the world’s largest asset manager moves to address climate change, but that doesn’t mean it’s selling out of the biggest producers -- including top shipper Glencore Plc.Producers of the dirtiest fuel are coming under increasing pressure from money managers to either abandon the business or show plans for an eventual exit. What investors don’t agree on, is how to measure progress and whether companies are complying.BlackRock’s discretionary active investment portfolios will sell out of all companies that get more than 25% of sales from thermal coal, Chief Executive Officer Larry Fink wrote in a letter to clients that outlined a plan to put climate considerations at the center of its strategy. There isn’t a long-term economic or investment rationale for continuing to invest in the fuel, he said.Read more: BlackRock Puts Climate at Center of $7 Trillion StrategyHowever, the revenue threshold means that large, diversified miners -- which also rank among the largest coal producers -- won’t be affected. Glencore, of which BlackRock owns 6%, is the single biggest coal shipper, mining about 130 million tons last year. Yet its thermal coal revenues accounted for less than 10% of the total, thanks to the contribution from its giant trading operations.Major coal producers Anglo American Plc and BHP Group also comfortably escape the cap.Blackrock’s approach contrasts with Norway’s $1 trillion sovereign wealth fund, which said last year it would stop investing in companies that mine more than 20 million tons a year of thermal coal. Glencore, Anglo and BHP all fall foul of that requirement.The pressure on mining companies is showing results. BHP is looking at options to exit its remaining coal mines in Colombia and Australia, while Anglo is also looking to retreat. Even Glencore, an ardent defender of the fuel, has said it will limit its output after pressure from Climate Action 100+, a group BlackRock has now joined.Still, many argue that targeting coal suppliers will have limited effect because western companies will simply sell their mines to others who will continue to operate them for years as long as demand holds up.Last year, Glencore’s billionaire CEO, Ivan Glasenberg, said coal had an essential role in providing affordable and reliable power in developing countries. If environmentalists keep pressuring companies to stop producing coal, there won’t be enough for the economies that need it, he saidTo contact the reporter on this story: Thomas Biesheuvel in London at email@example.comTo contact the editors responsible for this story: Lynn Thomasson at firstname.lastname@example.org, Liezel Hill, Dylan GriffithsFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
San Diego, California-based Sempra Energy (NYSE: SRE) will base about 200 employees at its new regional headquarters in Houston. Sempra already employs about 70 people in Houston and the Port Arthur, Texas, area. The LNG project would create about 3,500 on-site engineering and construction jobs while it’s built and almost 200 full-time employees once it starts up, Mleczko said.
(Bloomberg) -- Samarco Mineracao SA has rejected creditors’ formal request to resume talks to restructure its defaulted debt, signaling heightened risks for bond holders, according to people with direct knowledge of the situation.The Brazilian iron ore venture between BHP Group and Vale SA said it has yet to firm up its business plan. And without that, the company argues that it will be at a disadvantage if it were to resume talks that have been put on hold for almost a year on its $2.9 billion in defaulted debt, the people said.Samarco has said it will restart iron ore mining in the second half of this year after securing all the permits required by authorities. Operations have been halted since a waste dam collapse in 2015 that killed 19 people, curtailing the company’s ability to meet its obligations to creditors.The continued delay in talks to restructure the debt may antagonize Samarco’s creditors, the people said. That’s bad news for holders of the company’s $2.2 billion in bonds maturing 2022 and 2024 that have fallen to 66 to 69 cents. The company has been in default on these obligations for almost four years.Samarco estimates production to hit as high as 8 million metric tons per year in 2020 and reach full capacity of about 24 million tons of pellets by around 2030.Negotiations for the restructuring of the defaulted debt were put on hold at the end of January 2019, when Vale, which owns half of the venture, suffered an even worse disaster at a mine in Brumadinho, also in the state of Minas Gerais. That spurred heightened scrutiny of applications for environmental permits by regulators.BHP, Vale and Samarco declined to comment.To contact the reporter on this story: Pablo Gonzalez in Sao Paulo at email@example.comTo contact the editors responsible for this story: Nikolaj Gammeltoft at firstname.lastname@example.org, Luzi Ann Javier, Christopher DeRezaFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Global miner BHP Group is feeling its way back into commodities trading, making a dedicated hire to help it manage a base metals book in Singapore as it seeks to boost returns and manage transaction risk, two people with knowledge of the matter said. The move comes several years after peer Anglo American moved into trading of concentrates including third party material, which industry sources say has met with some success. BHP has hired Yuna Chang, formerly with mid-sized base metals trading house Concord Resources, to execute London Metal Exchange business, according to another person with direct knowledge of the matter.
BHP Group said on Thursday it was considering its membership of four industry associations due to concerns about their climate and energy policies, although it was not yet ready to pull out as some shareholders have demanded. BHP has faced increasing pressure from investors worried that some mineral lobby groups, particularly in Australia, are promoting coal use in contravention of the goals of the Paris climate pact, and have urged BHP to stop funding them. "We believe that active participation in industry associations provides a leadership opportunity," BHP said in a report following a review of its association memberships.
The Zacks Analyst Blog Highlights: Apple, PepsiCo, BHP Group, Canadian National Railway and Schlumberger
The FTSE 100 climbed to its highest level since August on Wednesday, as Donald Trump ramped up hopes of a trade deal between the U.S. and China.
Incoming BHP Group Chief Executive Mike Henry said the world's biggest miner is prioritising new developments in technology to cut costs and improve safety, including collaborations with tech start-ups and researchers. Henry, who will the reins at BHP from Jan. 1, kept a prior commitment to speak at a mining technology conference in Perth on Wednesday, signaling that the area is likely to be a major focus of his tenure.