BHP Group: A miner for all seasons
About the author:
- 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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