BHP Billiton Limited (BHP) Shares Bounce On Report

July 18, 2018

Owen Raszkiewicz

Owen is the Chief Investment Officer of Rask Invest and Founder of Rask. Since founding The Rask Group in 2017 in the hillside suburb of Upwey, Victoria, Owen has overseen the growth of the Rask platform to over 200,000 investor followers. Today, Owen oversees the Rask Analyst team, which helps more than 4,000 Aussies build core portfolios from ETFs and shares, he hosts Australia's biggest investing podcast, The Australian Investors Podcast, appears on Rask's other channels, covering Property, Business and Finance; and leads Rask Education - our education platform which has enrolled over 25,000 Australians into free finance courses. Prior to founding Rask, Owen was an investment analyst at the highly regarded managed funds research business and a writer/analyst for one of the most well-known share market publications. Owen’s formal qualifications include a Master of Applied Finance and Master of Financial Planning from Kaplan Professional, Bachelor of Technology (Information Systems) from Swinburne University of Technology, Advanced Diploma of Financial Services (Financial Planning) and Diploma of Mortgage Broking Management. He's also completed level 1 of the Chartered Financial Analyst (CFA) program.

More analysis

BHP Billiton Limited (ASX: BHP) shares bounced 3% on Wednesday, according to Google Finance, following an important ASX filing.

In an announcement to the ASX, BHP, Australia’s largest mining company, released its 2018 production report showing strong results across iron ore, coal, copper and petroleum.

For 2018, BHP reported production for each of its key commodities:

Petroleum of 192 million barrels, down 8% year over year
1.75 million tonnes of copper, up 32%, and
238 million tonnes of iron ore, up 3%

“We have delivered a strong finish to the 2018 financial year with an eight per cent increase in annual production and record output at Western Australia Iron Ore, Queensland Coal and at our Spence copper mine in Chile,” BHP CEO Andrew Mackenzie said.

Looking into its 2019 financial year, BHP expects flat to slightly negative production across petroleum and copper and a 1% to 5% increase in iron ore output.

Price Boost

Pleasingly for BHP, the prices of its key commodities also increased during 2018.

“Good prices and our culture of continuous improvement give us positive momentum into the 2019 financial year,” Mackenzie added.

Average selling prices of oil, for example, rose 26% year over year. Copper and metallurgical coal prices rose 23% and 9%, respectively. Iron ore prices fell 3%.

Summary

With commodity prices showing strength and solid production, investors reacted favourably to BHP’s announcement this morning. According to The Wall Street Journal and Reuters, the average analyst rating for BHP shares is “overweight”.

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