Bhp Share Price (BHP)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Bhp Group Plc	LSE:BHP	London	Ordinary Share	GB00BH0P3Z91	ORD $0.50

	Price Change	% Change	Share Price	Shares Traded	Last Trade
	13.50	0.67%	2,020.00	1,492,823	13:29:22

Bid Price		Offer Price	High Price	Low Price	Open Price
2,020.00		2,020.50	2,026.00	2,000.00	2,013.00

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Mining	33,038.32	11,167.98	52.69	36.3	-

Last Trade Time	Trade Type	Trade Size	Trade Price	Currency
13:29:21	AT	300	2,020.00	GBX

Related Shares
Rio Tinto (RIO), Glencore (GLEN), Power Metal Resources (POW), African Battery Metals (ABM)

Bhp (BHP) Latest News

Bhp News

Date	Time	Source	Headline
15/7/2019	06:15	ALNCF	Alliance News Flash Headline
11/7/2019	15:28	DJN	BHP Looking to Exit Thermal Coal -Bloomberg
11/7/2019	14:46	ALNC	PRESS: BHP Facing Pressure From Investors To Sell Coal Business
18/6/2019	18:31	ALNC	DIRECTOR DEALINGS: BHP Non-Exec Ian Cockerill Buys Shares
18/6/2019	16:37	UKREG	BHP Group PLC Director/PDMR Shareholding
17/6/2019	13:53	ALNC	IN THE KNOW: Iron Miners Facing Further Upside - Liberum
11/6/2019	12:38	ITALNC	LONDON MARKET MIDDAY: Minerari spingono FTSE; sterlina sale con macro
08/6/2019	12:42	DJN	Big Mining Companies Disclose Questionable Stability of Dams -- Update
08/6/2019	00:32	DJN	Big Mining Companies Disclose Questionable Stability of Dams
07/6/2019	09:48	ALNC	BHP Creates Tailings Taskforce To Improve Safety Of Its Tailings Dams

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Date	Time	Title	Posts
16/7/2019	11:27	BHP GROUP PLC EX BHP BILLITON	176
10/7/2019	16:00	BHP Billiton	61
18/4/2019	07:29	BHP Billiton: Global Resources Giant	46
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11/2/2007	03:23	Banjo's Hit Parade	29

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Bhp (BHP) Most Recent Trades

Trade Time	Trade Price	Trade Size	Trade Value	Trade Type
12:29:21	2,020.00	300	6,060.00	AT
12:29:21	2,020.00	35	707.00	AT
12:29:21	2,020.00	499	10,079.80	AT
12:29:21	2,020.00	152	3,070.40	AT
12:29:21	2,020.00	245	4,949.00	AT

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Bhp (BHP) Top Chat Posts

Date	Subject
16/7/2019 09:20	Bhp Daily Update: Bhp Group Plc is listed in the Mining sector of the London Stock Exchange with ticker BHP. The last closing price for Bhp was 2,006.50p. Bhp Group Plc has a 4 week average price of 1,918p and a 12 week average price of 1,713p. The 1 year high share price is 2,078.50p while the 1 year low share price is currently 1,486.60p. There are currently 2,112,071,796 shares in issue and the average daily traded volume is 4,163,677 shares. The market capitalisation of Bhp Group Plc is £42,621,608,843.28. Read Full Thread Reply
19/6/2019 21:47	loganair: Iron ore retreats: are Fortescue, BHP and Rio Tinto a buy? China’s iron ore futures declined by 2.4% on Monday as ASX miners Rio Tinto share price fell 1.4% to $103.86, while BHP Limited share price dropped 0.35% to $40.16 and Fortescue Metals Group tumbled 3.75% to $8.47. Iron ore prices have gone on a tear in recent months following a fatal disaster at Brazil’s Vale SA tailing dam, while big Australian miners BHP, Rio Tinto and Fortescue were affected by a tropical cyclone earlier this year. Are ASX miners a buy? Iron ore fundamentals are still looking very bullish as Chinese iron ore port inventories have recently hit two-and-a-half year lows and are down 20% from early March highs. Furthermore, China’s crude steel output hit a record high in May, highlighting China’s continued demand for steel consumption. While these demand-side fundamentals are looking very strong, there are some emerging issues that need to be addressed. On Monday, the spotlight turned to top iron ore miner Vale SA. Vale expects to soon restore 20 million tonnes of yearly capacity at its Brucutu mine in Brazil. To put 20 million tonnes into perspective – Fortescue, the world’s third largest iron ore miner produced 101.1 million tonnes of iron ore in 1H19. However, Vale is still pending court approval to resume production at Brucutu. Another concern for investors relates to the all-important consumers of iron ore – steel mills. A jump in iron ore prices chips away at profit margins for steel mills. This is a delicate scenario where China’s steel output is expected to remain strong, but high raw material costs could see slowing purchases made by steel mills that are anticipating a hit from shrinking profitability. Investors might have noticed the high price of iron ore is also affecting the likes of steel maker BlueScope Steel. Vale production and shrinking steel mill margins are the two main factors that could result in a downturn in Iron Ore prices. However, I am confident that iron ore markets will continue to face a significant supply-demand imbalance. Vale is still pending court approval to resume production that will not materially impact the market until much later. While China’s steel demand market remains robust while iron ore inventory continues to trend lower. I believe the Australian mining sector still presents a worthy short-term opportunity while the commodity market continues to run hot. Read Full Thread Follow Reply
19/6/2019 20:56	the grumpy old men: Opinion Iron ore price is defying gravity, and nothing is bringing it down to earth Elizabeth Knight Business columnist June 20, 2019 — 12.00am The price of iron ore continues to defy both gravity and the warnings from a plethora of technical financial analysis that the metal price is in bubble territory. But tell that to the thousands of investors with shares in BHP, Rio Tinto and Fortescue. For them, watching the iron ore price hit new highs is a bonanza. BHP shareholders haven’t seen the stock at these levels since 2011, Rio’s share price hasn’t closed this high since 2008. At Wednesday's close BHP was up 2 per cent to $40.98 and Rio was up 1.94 per cent $105.71. The iron ore price is in bubble territory. The iron ore price is in bubble territory.Credit:Bloomberg And the pick of the bunch from a share price performance perspective, Fortescue was up more than 3 per cent on Wednesday to $8.78 and is at a near 11-year high. While riding the iron ore rise has been wonderful for shareholders, buying into this run seems like a pretty gutsy play requiring (let’s say) nerves of steel. The iron ore price can be volatile. Having said that it has been trending higher for most of this calendar year and on Wednesday rocketed up 3.7 per cent to $US112.28 - sending iron ore stocks off on a tear again. Related Article Water and mud from the failed tailings dam at Brumadinho in Brazil. The collapse of another Vale tailings dam and the impact of Cyclone Veronica on the Pilbara miners have removed 100 million tonnes of iron ore from the market this year. Iron ore Iron ore's darkish clouds create silver lining for Pilbara miners And here's why. If the current spot prices for iron ore remain at these levels Rio and BHP would produce a 50 per cent improvement in earnings per share in fiscal year 2020, while Fortescue’s earnings could be up by 170 per cent according to Macquarie’s calculations. Such an outcome would deliver a deluge of dividends. In recent years these major iron ore companies have demonstrated a more conservative approach to capital expenditure and a way more generous approach to rewarding shareholders with dividends and buybacks. The robust share price performances are also being fed by a positive broader sentiment on the sharemarket. There are two factors at play here. The first is increasing hope that the US central bank will take a more aggressive position on lowering interest rates. The second - and much less reliable - reason for market optimism is being generated by the slightly toned-down rhetoric in Donald Trump’s latest trade war tweets. Both these positives could prove fragile. However, the forces that are specific to iron ore are based on supply and demand fundamentals which are proving tenacious. Many had forecast that the disruption in iron ore supply that began with the Vale tailings dam disaster in Brazil in January would be on its way towards a resolution. It isn’t. Courts and regulators have taken control and the timing of the restoration of supply seems no closer - or at least no clearer. At the same time pressure on all mining companies to reassess the safety of their tailings dams is intensifying. Related Article Autonomous trucks at Rio Tinto's West Angelas mine. Mining Falling iron ore stockpiles in China latest fuel for local mining boom Major investors, led by the Church of England have banded together to form what they have called the Mining and Tailings Safety Initiative. This week it released a name and shame list of companies that had not responded to its request to provide details of their tailings facilities. This investor group accounts for assets under management of $US12 trillion ($17 trillion). BHP and Rio have produced audits of their tailings dams over the past couple of weeks. Meanwhile, heavy rainfall during the current quarter in parts of Vale’s operations has only added to the supply disruptions. Citi Research's New York-based analysts said this week’s iron ore rally came on the back of an increasing likelihood that Rio may not make some contract deliveries of higher grade ore for July and August. But while supply is constrained, the demand side of the equation is not easing which is leading to continued depletion of stockpiles in China. In a note to investors Macquarie said, "Chinese port stocks, one of the most watched indicators in the iron ore market, have fallen further to under 110 million tonnes, indicating a 25 million tonnes drawdown since the end of April 2019. It further noted that, "the falling inventories at ports suggest consumption continues to outpace seaborne arrivals". The size and frequency of Chinese government stimulus packages is playing a big part in the continuing high demand for steel - whose major ingredient is iron ore. And just how the latest round of China-US trade talks play out will also be a major factor determining China stimulus. Few, if anyone, is predicting that iron ore prices will remain at these elevated levels for another year but right now the forces that are pushing the price higher appear stronger than those that could bring it back to earth. Elizabeth Knight comments on companies, markets and the economy. Read Full Thread Follow Reply
14/6/2019 06:55	the grumpy old men: Why the Rio Tinto share price is outperforming with the sector today Brendon Lau \| June 14, 2019 \| More on: BHP FMG RIO Race Many of the big ASX miners are outperforming the S&P/ASX 200 (Index:^AXJO) (ASX:XJO) index this morning after the price of iron ore hit a five-year high. The Platts Iron Ore Index, or IODEX, jumped to $US110.20 a tonne and has gained more than 50% since January, according to the Australian Financial Review. This pushed the Rio Tinto Limited (ASX: RIO) share price up nearly 2% to $103.82 this morning, while the BHP Group Ltd (ASX: BHP) share price added 1.1% to $40 and the Fortescue Metals Group Limited (ASX: FMG) share price surged 4.6% to $8.73. Iron ore in a seller’s market Worries about the supply of mainstream iron ore fines are reported to be behind the latest price surge and traders are expecting tight supply in July and August. It’s a seller’s market – at least in the short-term with some analysts predicting the price of the commodity could jump to US$120 a tonne by August. The strength of the steel making ingredient is defying the gloom cast over the Chinese economy from the ongoing trade spat between the US and China. This is largely based on two factors. The Chinese government may step up infrastructure construction to offset the slowing economy and that means greater demand for steel. The other factor is that profit margins for Chinese steel mills are still reasonably healthy. These mills will keep buying iron ore to produce steel as long as they can make a buck! Risk of a price correction in the second half But not everyone is a bull. Some analysts, including those from Citigroup, point out that profit margins of these mills are under pressure and have become razor thin in recent times and that the supply of residential property is outstripping demand, which leads to a real risk that steel production could fall in the second half of this calendar year. This isn’t a given so it’s probably a little premature to be selling off all your holdings in iron ore stocks. The high price of the commodity also gives me some comfort as it provides room for a fall without necessarily triggering a consensus profit downgrade cycle for these stocks. Foolish takeaway Many analysts have assumed an iron ore price that’s materially under US$100 a tonne, so even if the ore price were to fall 20% from its expected peak, that shouldn’t impact much, if at all, on share valuations. On the flipside, if iron ore prices stay higher for longer (and it seems to have a bit of a history of remaining stubbornly high) or if it only dips modestly, shares in our major iron ore producers can enjoy a consensus profit upgrade instead. But iron ore stocks aren’t the only group with a promising outlook. The experts at the Motley Fool have uncovered some gems that are well placed to outperform in 2019. Read Full Thread Follow Reply
27/5/2019 08:02	grupo: BHP, Fortescue, & Rio Tinto higher as iron ore prices surge again James Mickleboro \| May 27, 2019 \| More on: BHP FMG MGX RIO ASX iron ore miners Although the market has had a subdued start to the week, that hasn’t stopped Australia’s leading iron ore producers from storming higher this morning. In morning trade the iron ore industry has been one of the best performing areas of the market thanks to yet another rise in the price of the base metal. Here’s the state of play at the time of writing: The BHP Group Ltd (ASX: BHP) share price is up 1.5% to $38.00. The Fortescue Metals Group Limited (ASX: FMG) share price has pushed 1.6% higher to $8.35. The Mount Gibson Iron Limited (ASX: MGX) share price has climbed 2.5% to $1.28. The Rio Tinto Limited (ASX: RIO) share price is 1.5% higher to $102.76. What happened with iron ore prices? Iron ore prices continued their rise on Friday and closed in on five-year highs. According to Metal Bulletin, the price of the benchmark 62% fines rose 1.5% to US$105.32 a tonne, leaving it trading within a whisker of its five-year high of US$105.78 a tonne. Gains were also made by both lower and higher grade ore. The price of the lower grade 58% fines rose 0.3% to finish the week at US$87.02 a tonne, whereas the higher grade 65% fines closed the week with a 0.7% gain to US$119.30 a tonne. What’s next for iron ore prices? The good news for shareholders of these miners is that all signs are pointing to further gains today after Chinese iron ore futures finished the week on a very strong note. In fact, futures contracts closed the week at a record high thanks to increasing demand from Chinese steel producers after a production ramp up and declines in stockpiles at Chinese ports. If this leads to further increases in iron ore prices this week, it wouldn’t be at all surprising to see the likes of BHP, Fortescue, and Rio Tinto continue their charge higher. Read Full Thread Follow Reply
14/4/2019 13:05	loganair: Goldman Sachs reaffirms its neutral investment rating on BHP Billiton PLC (LON:BLT) and raised its price target to 1900p (from 1750p). With Iron Ore prices at mutli year highs and likley to go higher and with the oil price holding up very well it seems to me that Goldman Sachs are underestimating BHP share price going forward over the short term, over the next 6 to 12 months. BHP all time high was in December 2010 at £25. I can see of no reason why the BHP share price will not breach the £20 level and with the price of its commodities holding up or even rising I can see £21 on the cards. Read Full Thread Follow Reply
31/3/2019 18:53	loganair: Is it too late to buy BHP and these high-flying ASX shares? The BHP Group Ltd (ASX: BHP) share price pushed higher and hit a multi-year high of $38.24 yesterday. The mining giant has been a strong performer in 2019 due to favourable commodity price movements and a better than expected half year result in February. In the first half of FY 2019 BHP posted underlying EBITDA of US$10.5 billion, allowing it to reward shareholders with an interim dividend of 55 U.S. cents per share. Although its shares have climbed strongly over the last 12 months, I still see value in them at current levels. Especially for income investors in search of diversification. Read Full Thread Follow Reply
11/2/2019 23:16	loganair: Is the BHP Group share price set for another rally as iron ore heads towards US$100/tonne? The iron ore price could be poised to surge over US$100 a tonne as Chinese traders return from the Chinese New Year break to play catch-up with the rest of the commodities market. In effect this would be a return to ‘boom time’ prices last hit in the midst of China’s once-in-a-generation construction super-cycle that caused demand for the core steel-making ingredient of iron ore to rocket. The price of the steel making ingredient surged 24% since the collapse of Vale SA’s Brumadinho dam in Brazil on January 25 and has rallied over 6% since the start of the Lunar New Year week-long celebrations in China to around US$92 a tonne. The tragic event sent the Fortescue Metals Group (ASX: FMG) share price surging 44% since the start of the year while the Rio Tinto (ASX: RIO) share price added 15% and BHP Group (ASX: BHP) share price added 3%. Iron ore heading to over US$100/tonne? However, the stock probably won’t be lagging for much longer with some analysts predicting that the iron ore price could jump over US$100 a tonne as commodity markets have a tendency to overshoot and undershoot to the up or downside. What will add to the volatility is the fact that no one knows how much production Vale will be taking off the market as the embattled miner had to stop operations in a number of its mines. Some of the closures have been ordered by Brazilian authorities who are inspecting the safety of Vale’s other tailings dams while some of the production stoppages were voluntary. Vale intends to ramp up production at its mines in other countries, but there’s speculation that other governments will also be issuing a stop-work order to Vale to check on its dams and that could leave the iron ore market in a supply deficit for weeks, if not longer. But the iron ore price isn’t the only thing to watch for this reporting season. There’s speculation (or rather hope) that BHP will unveil another capital return when it reports its result next Tuesday. This could be the trigger for the BHP share price to close the gap with its peers. Read Full Thread Follow Reply
06/1/2019 07:53	p0pper: Not having had a special dividend before, will the BHP share price drop after this dividend as per usual divi's or as this is a one off will the share price remain the same? thanks to anyone in advance who knows the answer. Read Full Thread Follow Reply
02/1/2019 00:03	loganair: BHP - Growth, long-term horizon, Deep Value an Australian Commodity Company with a Secure 5.5% Yield: BHP is an enormous commodities company with an enormous portfolio of assets. The company's asset portfolio is spread across materials essential to modern society. BHP has incredibly strong cash flow and has worked to maintain low debt levels and a respectable dividend yield throughout the downcycle. BHP's cash flow potential going forward makes the company a great investment, one that I highly recommend. BHP Group is an enormous commodity company with a market cap of more than $100 billion. The company operates in the copper, iron, coal, potash, oil, and gas industries. The company's operation in a variety of commodities means it is subject to cycles. Through this article, we'll see that the company's focused improvements of its financial position combined with its impressive asset portfolio make it a company I recommend investing in at this time. BHP Growing Asset Portfolio: BHP has a growing asset portfolio that'll provide the company with more secure earnings going forward. BHP's four segments have continued to reach record production, showing their incredible potential. The company has been focused on cutting cost as possible and has continued to earn incredibly strong EBITDA. The company's total EBITDA from its four assets is anticipated to reach $23.1 billion annually. That's incredibly strong for a company with a market cap of more than $100 billion and shows the company's earning potential. More so, the company's costs for all of its major earners are well below the current prices of the commodities. For example, the company's $10.06/barrel petroleum cost is less than 25% of the current crude oil prices. That shows the company's impressive cash flow potential from its assets and how profitable they are, even in a commodity downcycle. BHP Capital Spending: To grow its investment assets, the company plans to invest close to $10 billion annually. The company's impressive capital expenditure is well above its 2017 capital production and almost equivalent to the company's 2016 capital expenditure. That impressive capital expenditure is incredibly affordable and is equivalent to almost 10% of the company's market cap. That means that these impressive investments should help the company's cash flow to grow. BHP Project Cost Cutting: Looking at the company's Australia operations, the company managed to have record production at 7 mines while decreasing costs by 2%. The company's Queensland costs are well below current coal prices, allowing the company to earn cash flow. However, the company does anticipate near term 2019 Queensland coal prices as higher, due to higher strip ratios. The Olympic Dam mine, which focuses primarily on copper and uranium, has seen its ore increase. The company anticipates Olympic Dam production to increase going forward. The company's South Flank asset is also targeting first ore in 2021, which will help to increase the grade and lump proportion. These things should help the company's cash flow to increase. BHP Major Project Delivery: In the Americas, the company's Escondida mine, one of the largest copper mines in the world, has seen copper costs down 15% with record throughput. The company's volumes are expected to average 1.2 Mtpa to 2025, with unit costs at <$1.15 per pound. The company has maintained incredibly strong costs despite a decreasing grade. Going forward, the company anticipates production to continue at the current levels, which should mean continued revenue and earnings. That's incredible production in spite of the fact that the grade of the ore has declined some. The company also has desalination water secured, which will help to maintain stability and support costs. Overall, this asset will continue to provide billions of long-term cash flow BHP. BHP Oil Portfolio: The company's petroleum assets are another important aspect of its earnings. The company has 1 billion barrels in reserves replaced over the last decade, with finding & development costs well below its peers. The company's low finding and development costs of just over $20 will mean significant cash flow potential for the company. The company's current investments are profitable at less than $50/barrel. The company's pipeline of 8 projects has achieved average returns of >25%, which is an amazing return for shareholders. The company has continued to increase performance and improving its exploration and success rates. Low cost of lifting, with impressive assets, means strong earnings going forward. As we will see going forward, BHP's portfolio of assets and growth potential make it a strong investment. BHP Financial Position: BHP has an incredibly strong financial position, a financial position that it has been focused on improving. As a company at the bottom of a cyclical operation, in the immediate term, its finances are everything. BHP Financial Portfolio: BHP has an incredibly strong balance sheet that provides it with continued flexibility throughout the cycle. The company's balance sheet has been tested under a wide variety of price scenarios, and this shows that the company has a buffer for price movements. The company is targeting a net debt in the range of $10-15 billion. During a downcycle, the company expects net debt increasing to the upper end of the region, before it drops back down. This shows the company's financial strength; the company is keeping its debt in a downcycle low. The company has strong liquidity, with an undrawn $6 billion revolving credit facility, which shows the company's financial ability. BHP Shareholder Rewards: Going forward, the company plans to reward shareholders while maintaining flexibility. The company has focused on a minimum 50% payout ratio dividend, while providing additional rewards to shareholders. That dividend is currently almost 6%, which shows the company's strength. The company has paid out $9 billion over the minimum dividend since early-2016. The company was forced to cut its dividend in 2016 due to a tough commodity environment. The company's 50% payout ratio has been still below the progressive dividend, but the company's special dividend has grown to above the dividend while maintaining the company's strength. BHP Debt Balances: Looking at BHP's debt balances, the company has a very balanced debt maturity portfolio. The company has roughly $2 billion in annual debt due from now until 2026. Given the company's annual earnings of roughly $10 billion per year, that means that the company can comfortably afford the debt going forward. This helps to show the company's incredibly impressive financial strength. BHP Maximizing Returns: Overall, these strong financials, combined with the company's new dividend policy, will allow the company to have strong shareholder returns. The company has reduced its debt by $15 billion in two years, reducing net debt to a $10-15 billion range. The company has a new minimum 50% payout ratio dividend we discussed above which'll reward shareholders well. More so, the company plans to limit capital spending, with less than $8 billion in capital and exploration expenditure per annum until FY 2020. The company anticipates ROCE back to ~20% by FY 2022. That shows the company's improving financial profile, which will allow the company to continue to maximize in its investment while having strong returns. BHP's Challenges: Like all other major companies, BHP faces challenges. BHP's single greatest challenge is that the company is in a cyclical sector. Coal, copper, potash, and iron are all commodities that often deal with a cyclical pricing setup. As a result, the company's cash flow can vary heavily from year to year. Despite investors knowing the business is cyclical, the company's stock price varies with these cycles too. That means that I don't recommend this stock for investors with 1,2, or even 5-year timelines. Rather I recommend it for investors who have closer to a 10-year timeline. Still, in the event of a drawn-out commodity crisis, the company's stock price, cash flow, and even dividends could be punished heavily. As a result, as an investor, this is a risk you need to be open too. No one will know when the next commodity crash will happen, but there almost certainly will be one. BHP Valuation: Trying to put a direct price valuation on BHP is difficult, due to the fluctuation in commodity prices. However, I'll try and provide some guidance. BHP's net operating cash flow, which the company uses to retire debt and pay its dividend, is the single most important metric I recommend paying attention too. In 2016, the company's net operating cash flow dropped to a mere $14.6 billion in the commodities crash. However, it has since rebounded. Still, these levels are 20% below 2014 when the crash started. However, BHP dividend payment is paying similar to what it was before the crash. As the company's cash flow recovers, which I anticipate to be over the next few years, as commodity prices stabilize and costs are cut, its share price should recover further. BHP is currently trading at 30% below its mid-2014 highs, while cash flow has dropped 14%. As a result, I think the company is roughly 16% undervalued at this time. As its cash flow increases, I expect the company's share price to increase in turn. This also means as a catalyst for investors to pay attention to, pay attention to the company's cash flow as it reports it in 2019. Should the company miss cash flow numbers drastically, if it's commodity price related, that's a risk, but if it's due to poor management, I'd recommend selling your shares. However, even right now, when you invest, you're getting a growing commodities company, with strong cash flow, and a dividend yield of more than 5%. That company is trading at 16% below what it should be based off of its cash flow. Conclusion: BHP has low cost assets, which means continued cash flow during the downcycle. As commodity prices recover, the company's stock price should return to mid-2014 highs, which will provide investors with strong returns. At the same time, the company's financials are set up for a market crash, and the company continues to pay investors a 5.5% dividend. These things together make the company a rewarding and strong investment decision. I recommend investing in BHP at this time. Read Full Thread Follow Reply
10/12/2018 23:03	loganair: Goldman Sachs adds BHP Billiton shares to its conviction buy list: All eyes will be on the BHP Billiton Limited (ASX: BHP) share price this morning after the mining giant was the subject of a broker note out of Goldman Sachs. According to the note, the broker has added BHP to its ANZ conviction buy list with a price target of $37.00. This price target implies potential upside of around 17% for its shares over the next 12 months, excluding dividends. Why is Goldman Sachs bullish on BHP? Goldman believes that BHP is only halfway through a multi-year re-rating and it expects returns to improve significantly due to the mining giant’s strategy of focusing on maximising cash flow through high-returning growth. It notes that BHP is generating US$11 billion to US$12 billion of free cash flow per annum and expects the majority of this to be returned to shareholders. In addition to this, it likes BHP due to its favourable commodity mix, superior margins, non-core divestment potential, and oil exploration upside. Another positive for the broker is its current valuation. It has pointed out that its shares are trading at 0.9x net present value of $35.40 per share and just 5.6x EV/NTM EBITDA. This compares to its 20-year average of 7x. Read Full Thread Follow Reply

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