From BHP, FMG to NCM: How did ASX mining giants fare today?

Highlights

• The benchmark index closed at 6,993.00, gaining 0.69% on Monday (1 August).
• Some of the day's best performers came from the metal and mining industry.
• Allkem went up 4.52%, while Lake Resources gained 2.47%.

All eyes are on tomorrow's Reserve Bank of Australia meeting as it is expected that the RBA would increase official rates by at least 50 basis points. A day ahead of the crucial RBA meeting, the ASX 200 extended its positive streak from last week and closed at 6,993.00, gaining 0.69% on Monday (1 August).

With this, the index has gained 2.99% over the last five days but is down 6.07% on a YTD basis.

Eight of 11 sectors closed in the green today on ASX, and materials was one of them. The ASX 200 Materials index also closed 0.88% higher today at 15,727.40 points.

It is to be noted that ASX 200 closed in green despite China's growth figures and geopolitical concerns weighing on U.S. equities futures.

Some of the day's best performers came from metal and mining sector. Allkem increased 4.52%, and Lake Resources gained 2.47%. After reporting "excellent" drilling results, Core Lithium advanced 2.6%. Lynas Rare Earths (+4.48%) and Elders (+4.17%) also posted significant gains.

In this article we will cover five ASX-listed mining giants and know about their performance on ASX today (August 1).

BHP Group Limited

Australia-based resources company BHP Group (ASX:BHP) produces commodities like iron ore, copper, nickel, potash, and metallurgical coal.

Shares of BHP closed trading at AU$39.10 apiece today, up 1.09% on ASX. With this, the company's shares have grown 3.36% in the last five trading sessions but declined 7.74% on a YTD basis.

Last month (19 July 2022), BHP presented an operational evaluation for the fiscal year that ended on 30 June 2022. The business produced consistently and safely throughout the year and generated record sales from WAIO. The corporation profited from the high iron ore prices by selling a record amount of product.

Fortescue Metals Group Ltd

Shares of another mining giant Fortescue Metals Group (ASX:FMG) fell 0.71% on ASX today to close trading at AU$18.21 each.

In the last five trading sessions, the company's shares recorded negative growth of 0.55% and 8.26% on a YTD basis.

Last Thursday (28 July 2022), Fortescue released its June quarterly report, which included an average revenue per dry metric tonne of US$108 for the specified quarter. The average revenue for the fiscal year 2022 was US$100 per dry metric ton.

As of 30 June 2022, Fortescue, the fourth-largest iron ore miner in the world, reported US$5.2 billion in cash and US$0.9 billion in net debt. As of 31 March 2022, Fortescue had US$2.4 billion in net debt.

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Rio Tinto Limited

On 27 July 2022, Rio Tinto (ASX:RIO) shared its half-year results for the financial year 2022. The company recorded a fall of 10% in its revenue to US$29.8 million, and its EBITDA decreased by 26% to US$15.6 million.

Rio's free cash for the half-yearly period was US$7.1 million, which fell 30% from 1HFY21.

Rio released its production stats for the second quarter of 2022 on 15 July 2022.

Rio recorded Pilbara iron ore shipments of 79.9 MT in the second quarter, up 12% from the first quarter and 5% from the same time in FY21. In comparison to Q2 FY21, production of Pilbara iron ore and copper mined from bauxite grew by 3%, 9%, and 4%, respectively.

Today, Rio's shares climbed 1.11% and closed trading at AU$98.92 per share on ASX. The company's shares have recorded 0.32% growth in the last five trading sessions while falling 0.77% YTD.

South32 Limited

Diversified mining and metals company South32 Limited's (ASX:S32) shares last exchanged hands at AU$3.86 apiece today (1 August 2022), up 1.31% on ASX.

Despite severe weather, supply chain hiccups, and a labour shortage brought on by COVID-19, South32 said on Monday (25 July 2022) that it anticipates meeting its cost guidance for the fiscal year 2022.

Most of South32's operations anticipate operating unit expenses for the fiscal year 2022 to align with the previously revised forecast. It is due to "expected producer currencies giving an advantage in the quarter ending June 2022."

In the last five trading sessions, the company's shares have grown 6.34% while reporting a 5.16% decline on a YTD basis.

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Newcrest Mining Limited

Australia-based, Newcrest Mining Limited (ASX:NCM) is the world's largest gold mining company. Newcrest recently (21 July 2022) released its operational update for FY22 on the ASX.

According to Newcrest's operating report, the business successfully met its gold production forecast for FY22. However, compared to the guidance for FY22, the company's copper production decreased by 3%.

In the June quarter, the All-In-Sustaining Cost (AISC) was AU$896/oz and delivered an ASIC margin of AU$958/oz. In FY22, Newcrest’s AISC was AU$1,044 per oz. The AISC margin was 41% or AU$732 per oz in the given period.

Shares of Newcrest Mining closed the day in the red today. The shares ended 0.16% lower at AU$19.27 per share on ASX.

The company's shares recorded positive growth of 2.94% in the last five trading sessions; however, the shares fell over 21% on a YTD basis.