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Highlights:
- BHP shares have been witnessing a bullish momentum today (4 October 2022), following the broader market.
- In a month, BHP shares have outperformed the broader market ASX 200, by reporting a rise of approximately 4%.
- In past five years, the share price has zoomed up by 48%.
Shares of the Australian mining giant, BHP Group Limited (ASX:BHP) have witnessed significant volatility recently. In last five trading sessions, it reported a rise of 4.22% and surged by 4.19% in a month. In six months, the share price has dropped nearly 25%. On a year-to-date basis, BHP's share price has fallen by 6.80%. Talking about the performance in the last 12 months, it has recorded a rise of nearly 7% (as of 11:11 AM AEST).
Today (4 October 2022), at 11:15 AM AEST, BHP shares were spotted trading at AU$39.51 apiece, up 2.36%.
Share performance of BHP in the last one month
In the last month, BHP's share price had touched the high of AU$39.41 apiece (on 12 September 2022) and also handled the low of AU$36.20 apiece (26 September 2022). Noteworthy here is that the group shared no price-sensitive news or company update on both days.
Comparing the share performance with the broader market, BHP shares have outperformed the ASX 200 index, which lost 246.20 points in a month. In contrast, BHP shares surged by 4.19%.
The benchmark index, ASX 200 Materials index, surged by 1.35% in a month.
Impact of changing commodity prices on BHP’s performance
While sharing the annual report 2022, BHP said that fluctuation in the commodity prices impacts its financial results, asset value and cash flow. Reportedly, US$1/t on iron ore price had moved US$228 million of underlying EBITDA. Similarly, one (US) cents/b on copper price had affected US$31 million of underlying EBITDA.
As of 3 October, Iron ore prices were US$98 per tonne. On a year-over-year basis, the prices have dropped 10.91%, and in a month, it has fallen by 2.97%.
Coal was priced at US$399 per tonne as of 3 October. In a day, it fell by 8% and in a month by 12.84%. On a year-over-year basis, it surged by 66.25%.
Guidance for FY23
On 16 August 2022, BHP shared that copper (kt) production to increase by 4% to 16% on FY22, and iron ore production to be in the range of negative 2% to positive 3%. The company expects metallurgical coal production to increase by 0 to 10% on FY22.
In a statement, BHP said that,
