Mostly they seem to be about sentiment rather than value. E.g there were plenty of buyers for BHP at $45 but would you buy it for even $15 if it dropped every day for the next two months?
Value wise it looks pretty good with median eps forecast of 309 cps for this FY. Next year looks likely to be even bigger though perhaps needs to be discounted a bit due to possibility of flow on from US slowdown. The success (or otherwise) of RIO takeover will change the equation of course. Imo if they pull it off (without overpaying) they will be re-rated significantly and you will see more consolidation amongst miners that leads to a stronger industry. I've got no doubts about demand for resources over the longer term.
will bhp fall further, page-13
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Last
$43.40 |
Change
-0.160(0.37%) |
Mkt cap ! $220.1B | |||
| Open | High | Low | Value | Volume |
| $43.11 | $43.56 | $43.09 | $248.4M | 5.730M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5716 | $43.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.41 | 4801 | 2 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |