Formulating thoughts here.
The BHP SP strikes me as depressed. Revenues are ahead of consensus yet the SP hasn't found its legs.
So what needs to happen in the near future to propel BHP beyond $28:
-Complete settlement of the Samarco deal to de-risk this ticker
-Put an end to the Escondida ruckus. Copper presents a world of hurt as BHP is maintaining an unproductive pillar and losing market-share on the long term.
-Stability and predictability of POO. The mismatch between oil supply (OPEC) and rising inventories/rig count in the US will need to end and start balancing
-Review fundamentals that oppose the current IO pricing. The IO price is maintaining orders of magnitude above expectations which can either turn into a massive correction or incomplete fundamentals.
-The efficiency of the management can improve. BHP needs to think more like a small business and buck the main stream and text book actions undertaken to become more competitive.
Until these big ticket items are resolved I think the current SP trend is fair.
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2 | 322 | 45.500 |
5 | 1052 | 45.460 |
1 | 500 | 45.420 |
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Price($) | Vol. | No. |
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41.000 | 6760 | 22 |
41.140 | 423 | 3 |
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