BHP on his/her knees. The price of the products they mass produce have gone to hell in a handbasket. $15 not too far away.... a SP that was inconceivable (even by bears like me) just 12 months ago. For 30 yrs we have had a lassez-faire approach re companies and a strong aversion to bailing them out.... atlthogh there have been 1 or 2 i seem to recollect.
It could be years before commodity prices rise to levels even just from 12-18months ago i.e. oil at $55-65 and IO in the 55-60 range. Meanwhile BHP runs risk of closing mines, postponing exploration/developement for yrs, and costing pension funds billions in lost capital.
I'm not suggesting govt assist BHP to pay divs. Rather to buy a decent swag of shares and support the SP at say $20. Then divest when macro returns to one with stronger demand. Say a 5 yr plan.
2 things: a) Govt money is actually tax payers' money. b) should govt try to 'pick winners'/intervene?, c) If they support BHP what about the rest?
I see govt in a situation unable to do much apart from stopping sale of subsidised steel into Oz. But what do others think?
BHP on his/her knees. The price of the products they mass...
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Last
$39.55 |
Change
0.000(0.00%) |
Mkt cap ! $200.6B | |||
| Open | High | Low | Value | Volume |
| $39.64 | $39.73 | $39.50 | $271.5M | 6.834M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12586 | $39.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $39.60 | 570 | 1 |
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| Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
| BHP (ASX) Chart |