Not so bizarre, gdennis. Glencore is down 30% overnight:
https://au.finance.yahoo.com/echarts?s=GLEN.L#symbol=GLEN.L;range=1d
(thanks valinvestor).
The market is focussing on debt, atm, and BHP and RIO need to sort out their houses (BHP expected to be down 6% today and RIO 4%). Adding more debt to pay dividends is unsustainable in this commodities rout. BHP's EPS is 47c, and they pay out a massive $1.68 dividend.
It probably wouldn't hurt for both BHP to do a good old fashioned equity raise.
$23, page-33
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Last
$38.45 |
Change
-0.460(1.18%) |
Mkt cap ! $195.0B | |||
| Open | High | Low | Value | Volume |
| $39.00 | $39.07 | $38.28 | $323.2M | 8.359M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 1696 | $38.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.46 | 24810 | 1 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| BHP (ASX) Chart |