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
$40.01 |
Change
-0.540(1.33%) |
Mkt cap ! $203.0B | |||
| Open | High | Low | Value | Volume |
| $40.52 | $40.63 | $40.01 | $261.2M | 6.492M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 21029 | $40.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.02 | 15000 | 1 |
View Market Depth
| Last trade - 16.10pm 14/11/2024 (20 minute delay) ? |
| BHP (ASX) Chart |