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Highlights:
- The shares of BHP have gained 4.07% in the last five trading days on the ASX.
- In the past six months, however, BHP’s shares have shed off 12.62%.
- BHP had recently announced that John Mogford, who was the director of BHP since 2017 October, has retired from the company.
One of the world’s major producers of essential commodities, BHP Group Limited (ASX:BHP) is an ASX 200 materials giant with a market capitalisation of AU$205.06 billion. The shares of the company have gained 4.07% in the last five trading days while in the last one month, the shares have went up 0.77% on the ASX (as of 3:57 PM AEDT, 8 November).
On Tuesday (8 November), BHP’s shares were trading 0.543% lower at AU$40.260 apiece on the ASX.
Why has BHP been in news lately?
- On 31 October 2022, the company shared that John Mogford has retired from his role of BHP’s director.
- In May 2022, Mogford had announced that he would retire after divestment of BHP’s oil and gas assets via merger with Woodside.
- On 19 October 2022, BHP shared its quarterly activities report as per which the company confirmed all production and unit cost guidance stays unmoved for 2023 financial year.
- BHP has signed a renewable Power Purchase Agreement with Alinta Energy.
- As per BHP, courtesy this deal, the greenhouse gas emissions from the Western Australian Iron Ore (WAIO) port facilities, will be reduced to half by 2024 end.
- During this quarter, BHP’s copper production was 9% up as compared to the last one. Iron ore production was 3% up than the last year corresponding period.
- BHP, during the quarter, signed an MoU with India’s Tata Steel to study and develop lower carbon iron and steel making technology in collaboration.
- BHP also announced a partnership with Pan Pacific Copper.
- During the September quarter, BHP’s minerals exploration expenditure was US$73 million. Out of this, US$58 million was expensed.
Share price performance of BHP on the ASX:
The stock of BHP gained 0.70% in the last one month on the ASX. In the past six months on the ASX, the shares of BHP have lost 12.68%. On a year-to-date basis, BHP has shed 4.79% while in the last one year, the shares have gained 9.86% on the ASX. If we look at the broader picture, the stock has appreciated its value by 43.75% in the last five years on the ASX (as of 4:10 PM AEDT, 8 November 2022).
