BHP Group: A miner for all seasons

About the author:

Adrian Prendergast
Author name:
By Adrian Prendergast
Job title:
Senior Analyst
Date posted:
23 August 2023, 10:00 AM
Sectors Covered:
Mining, Energy

  • A solid FY23 result from the big miner, with BHP Group (ASX:BHP) defending again broad global cost pressures, and further building its competitive advantage.
  • FY23 attributable underlying NPAT of US$13.4bn, in-line with market estimates.
  • Final dividend declared of US80 cents (vs consensus/MorgE 82/83 cents).
  • Despite lower iron ore and copper prices, and significant inflationary pressures, BHP maintained group EBITDA at 54% with a ROCE of 28.8%.
  • We maintain an Add rating on BHP with a (login to view) target price.

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