Two Interesting Blue-Chip Mining Stocks- BHP And FMG

  • Dec 29, 2018 AEDT
  • Team Kalkine
Two Interesting Blue-Chip Mining Stocks- BHP And FMG

BHP Group Limited (ASX: BHP):

BHP Group Limited, one amongst the favorite mining stocks in Australia, reports an increase in the share price by 1.94% by the end of the day. With the market open on 27 December 2018, the opening price of the share was A$34.190. It went as high as A$34.590. The lowest price of the share recorded for the day was A$33.970. The closing price of the share was A$34.150 which was 0.650 points above the previous trading day’s closing price. The share price lies towards the upper end of the 52 weeks high price. On 27 December 2018, around 2.95 shares traded on ASX with the market capitalization of A$98.69 billion.

The influence on the share is due to the recent dividend distribution update on 19 December 2018. The distribution amount was US$1.02 per share. The company has declared the ex-date as 10 January 2019. Those investors who hold the share of the company before this date will be eligible for the dividend. The record date of the dividend is 11 January 2019, represents the list of shareholders who are eligible for the dividend. The payment date of the dividend is 30 January 2019.

Also, the performance of the company remains positive since its listing on ASX. The consolidated income statement highlights an increase in the profit after tax as compared to the previous financial year with a strong balance sheet and a positive cash flow. The cash and cash equivalent excluding the overdraft by the end of FY2018 was US$15.813 million.

Fortescue Metals Group Ltd (ASX: FMG)

Fortescue Metals Group Ltd, another favorite mining stock reports an increase in the share price by 0.732% by the end of trading on 27 December 2018. With the market open on 27 December 2018, the market price of the share was A$4.130. It went as high as A$4.170. The lowest price recorded for the day was $4.110. The closing price for the day was A$4.130 which is 0.030 points above the previous trading day’s closing price. Today around 3.09 billion shares of FMG traded on ASX with the market capitalization of A$12.67 billion.

Since the listing of FMG on ASX, the performance of the company was 65.32%. However, the last one-year performance of the company was -16.33%.

On 24 December 2018, the company has declared a buyback notice which is a positive sign for an investor as it gives an impression that the value of the company shares will increase shortly. As a result of the buyback of shares, there will be a decrease in outstanding shares of the company which in turn will enhance the earnings per share.

Also, there was a change in the director’s interest which is another positive sign on the company’s stock as it creates confidence amongst the investors as well. Apart from the previously acquired shares of the company, there is a further new acquisition of FY2019 ESSIP performance rights and the FY2019 LTIP performance rights.


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