BHP (BHP)
BHP market cap is down 27 per cent over the past year. Miners typically have volatile earnings and therefore volatile share prices. I suggest clients buy mining stocks while the share prices are off and BHP is currently suited for this strategy. The shares were trading above $50 in January 2024 and are now under $40. The market is concerned that China’s growth is slowing and therefore will require less of BHP’s commodities. This theory is not yet a reality and although China have high stockpiles at their ports, they continue to buy our Iron ore in record volumes. BHP has more commodity diversification than the other large miners and this adds a level of protection. I expect to see BHP up above $45 this year. As a cyclical stock with a volatile share price, this company is not a “Buy and Hold” and needs to be traded to realise the potential profits.
BHP Price at posting:
$38.70 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)