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Looking forward to 2024.
Well, there are growth issues with EPS & dividend yet again, something I mentioned November 2022 that would happen going forward.
Have a look at estimated financials
https://www.marketscreener.com/quote/stock/BHP-GROUP-PLC-47281658/finances/
The same applies in RIO too, which I also hold
Base_jumper : if you are thinking of coming in, please do, but it would have been a better entry a couple of months ago!
Yes, in my view a definite buy and hold. Dividends have collapsed, but can return - see https://www.tipranks.com/stocks/bhp/dividends for history. Always a large part of my portfolio.
China can't control the price of iron ore, says the head of Brazilian mining giant Vale:
https://twitter.com/business/status/1731966481473085724
*VALE EXPECTS IRON ORE MARKET TO REMAIN TIGHT IN COMING YEARS
*VALE CEO SAYS CHINA CAN'T CONTROL THE PRICE OF IRON ORE
*THERE IS NO SUPPLY COMING
Is BHP a good portfolio investment
Iron ore gains on China’s property debt-rejig:
https://twitter.com/ReutersBiz/status/1727956515267445205
Iron Ore Soars to Nine-Month High on China Stimulus Anticipation:
https://twitter.com/markets/status/1726833383806751000
"#China's benchmark #IronOre futures approach 1,000 yuan/tonne mark, hit highest since Jul 2021, amid Beijing's stepped-up fiscal stimulus, renewed market optimism about real estate sector."
https://twitter.com/YuanTalks/status/1724431362763931941
#China's benchmark #IronOre futures gains further to hit new high since Jul 2021 :
https://twitter.com/YuanTalks/status/1723998175470756123
Just watched that on cnbc this week.
Interesting, but we take it with a pinch of salt as it's GOLDMAN. They says oil would hit $150 along with JPM this yr, they were so so wrong.
Goldman Sachs sees ‘clear deficit’ of iron ore for the rest of the year:
https://twitter.com/CNBCi/status/1722849372881199581
#China's most-traded #IronOre futures gained further on Thu to hit 951 yuan/tonne, a new high since Aug 2021:
https://twitter.com/YuanTalks/status/1722633968556884362
So the article below is just guidance that payouts would be dropping as i did mention start last year.
They predict a high possibility if $2.25 for 2024. This is in AUD. so that equates to £1.14 for the year. Bug drop from 2021.
A base case scenario is for payout of $1.95.
We'll see.
I'm back drip feeding £4000 in every 3months here n there and anywhere else with growth stocks preferably ..
My tip for 2024 is between ROCHE & FANG, maybe RIO too
Https://www.fool.com.au/2023/10/09/how-big-could-the-bhp-dividend-be-in-2024/#:~:text=The%20ASX%20mining%20share%20has,a%20dividend%20payout%20of%20%241.96.
Metals Extend Gains After China Steps Up Funds for Construction:
https://twitter.com/business/status/1717066790012866599
Australian shares snap three-day losing run to rise on strong commodity stocks:
https://www.reuters.com/article/australia-stocks-close/australian-shares-snap-three-day-losing-run-to-rise-on-strong-commodity-stocks-idUSL4N3BU137
Miners emerged as top gainers on the benchmark, ending the day 1% higher on a rebound in iron-ore prices.
BHP Group, Rio Tinto and Fortescue Metals added between 0.5% and 2.6%.
JPMorgan cuts BHP price target to 2,650 (2,710) pence - 'neutral
Trying to buy another 100 or so today, and have been told the London Stock Exchange have an IT issue with smaller FTSE250 stocks and has now transferred over to FTSE100 stocks.
Maybe gives me a benefit of buying more nearer to 2300p tomorrow
We also have to remember MAX, that China has still got an abundance of unoccupied flats & offices #GHOSTFLATS.
I'd think more about the rebuilding of these war torn countries atm having to rebuild.
I'm an accumulator at these prices again, along with oiliesFANG & BP and pharma's PFE with covid boosters in US.
We all read the results both RIO & BHP which were published thus yr, to which they announced steep declines in the FY dividend payouts on. Oth miners.
As a result, this has also put some pressure on the company’s future dividend payments. Nevertheless, they continue to present an enticing proposition for income-oriented investors.
Goldman Sachs has anticipated the total dividend for FY24 to be around $1.19 per share and $1.06 per share in FY25. 11 days ago, analyst reiterated his Buy rating on the stock, predicting a growth rate of 98%.
China iron ore stocks to hit 7-year low as demand beats expectations:
https://twitter.com/ChannelNewsAsia/status/1714231857121001653
"China's portside iron ore stocks are set to end the year at the lowest level since 2016, according to forecasts from eight Chinese analysts, while imports in the world's largest consumer will reach the highest since 2020."
Results on 22nd will be very interesting.
China's property and construction currently in a shadow?
China stimulus talk sends iron ore miners flying on ASX:
News that Beijing plans to stimulate China’s property and construction sectors helped the sharemarket’s blue-chip iron ore miners soar on Tuesday, as investors bet on growing demand for the steel-making ingredient.
The market’s largest constituent and mega-cap miner BHP Group jumped 3.3 per cent, with Rio Tinto soaring 3.4 per cent and Fortescue Metals lifting 4.6 per cent.
https://www.afr.com/markets/equity-markets/beijing-s-stimulus-talk-sends-iron-ore-miners-flying-20230725-p5dr1u
BHP Group Ltd on Thursday reported higher annual production across the board, meeting its guidance and ending the fourth quarter on a "strong" note.
In an operation review, the Melbourne-based diversified mining group said copper production for the financial year that ended June 30 rose 9% to 1.7 million tonnes from 1.6 million tonnes a year earlier.
For the fourth quarter that ended June 30, copper output was up 3% to 476,200 tonnes, compared to a year before. Quarter-on-quarter, production increased 17%.
Iron ore production inched up 1% to 257.0 million tonnes for the full-year from 253.0 million tonnes. Output grew 2% to 65.3 million tonnes year-on-year in the fourth quarter, and it was 9% higher on a quarterly basis.
BHP said its annual metallurgical coal production was flat at 29.0 million tonnes. Output improved 4% to 8.5 million tonnes on the yearly basis in the fourth quarter, and jumped 22% from the fourth quarter in 2022.
Nickel production for the year to June 30 rose 4% to 80,000 tonnes from 77,000 tonnes. Output for the fourth quarter climbed 17% to 22,000 tonnes year-on-year. Quarter-on-quarter, production was up 12%.
BHP said it met its annual production guidance for copper, iron ore and metallurgical coal.
The diversified mining group said average realised prices for copper, iron ore and metallurgical coal products were lower in the 2023 financial year compared to the prior year.
But nickel prices remained stable, while thermal coal prices were stronger, predominantly in the first half.
Chief Executive Mike Henry said the company finished the year with a strong fourth quarter, increasing annual production across the board and achieving annual records at Western Australia Iron Ore, Olympic Dam in Australia and Spence in Chile.
WAIO shipped record volumes on the back of productivity in its supply chain, rail network and car dumpers, while South Flank completed its deployment of autonomous haul trucks in May and is on track to ramp up to full production in the next 12 months, Henry said.
Olympic Dam's improved reliability and productivity delivered record annual output in copper, gold and silver, and the integration of Oz Minerals into the South Australian copper business is expected to lift production to between 310,000 tonnes and 340,000 tonnes in 2024 financial year.
Looking ahead, BHP guided for an increase in copper production of between 1.7 million tonnes and 1.9 million tonnes for the financial year ending June 30, 2024.
Annual guidance for iron ore ranges from 254.0 million tonnes to 264.5 million tonnes over this period.
Full-year metallurgical coal production is projected to range between 28 million tonnes and 31 million tonnes.
Output for nickel is estimated at between 77,000 tonnes and 87,000 tonnes.
gla
RIO.........trading update 18th July