US0886061086 - ADR
BHP GROUP LTD-SPON ADR
NYSE:BHP (9/27/2023, 2:01:05 PM)
55.595
+0.59 (+1.08%)
BHP Group Ltd. engages in the exploration, development, production and processing of iron ore, metallurgical coal and copper. The company is headquartered in Melbourne, Victoria. The firm is a producer of commodities, including iron ore, copper, nickel, potash and metallurgical (steelmaking) coal. The company is focused on offering a range of resources, which provides copper for renewable energy; nickel for electric vehicles; potash for sustainable farming, and iron ore and metallurgical coal for the steel needed for global infrastructure and the energy transition. Its segments include Copper, Iron Ore, and Coal. Its Copper segment is engaged in mining of copper, silver, zinc, molybdenum, uranium, and gold. Its Iron Ore segment is engaged in mining of iron ore. Its Coal segment is engaged in mining of metallurgical coal and energy coal. The firm is also focused on operating Olympic Dam, Prominent Hill, and Carrapateena underground copper-gold mines in South Australia. The firm's operations are situated in Australia, Europe, China, Japan, India, South Korea, rest of Asia, North America and South America.
BHP GROUP LTD-SPON ADR
Shop 16 171 Collins St
Melbourne VICTORIA 3001
P: 11611300554757.0
CEO: Mike Henry
Employees: 37908
Website: https://www.bhp.com/
Iron ore futures decline on demand concerns and potential steel production cuts in China, with sentiment also weighed by the country's ongoing property crisis.
Bernstein downgrades BHP due to expected drop in iron ore prices, while maintaining Outperform rating on Rio Tinto as copper and aluminum offset the risk.
Iron ore prices climbed to a six-month high, with the Singapore benchmark posting its beest weekly gain since June, helped by improving sentiment and China's move to bolster stimulus efforts
Iron ore prices look well supported as 2023 winds down, J.P. Morgan said, upgrading Rio Tinto (RIO) to Overweight to match its rating for Australian rival BHP (BHP).
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