Commodities: Potash
Hi MM,
If you were to build a portfolio of 5 ASX resources stocks (across base metals, precious metals and energy) what would be your highest conviction picks right now and why. Can be large cap and small caps.
The worlds largest miner is rarely far away from MM’s notes, and we last looked at it a few months ago, Here after its solid March quarter trading update. With iron ore trading above $US110, and Cu looking increasingly strong, BHP is in a great position to surprise on the upside, and we see no reason to reduce our position (s) at this stage.
BHP delivered a solid 1H FY26 result in February, with revenue and underlying profit broadly in line with expectations, while beating on the dividend. Operationally, production across iron ore and copper rose modestly, but the key highlight was the earnings mix, with copper now contributing 51% of group earnings. Guidance was also upgraded at key copper assets, reinforcing the improving momentum in this growth division.
Hi James and team,
Hello MM Team,
I have heard several commentator say in the past: “Buy BHP under $40 and sell at $50”. BHP is in a down trend since January 2024 and has been under $40 since March this year. In your opinion does this advice still holds?
This mine discovery, fid & construction seems to be going on forever. Around A$15+B investment with production due for CY26. It’s really big in a new industry for BHP.
Is there any ‘value’ baked in the current share price for the mine? If so, about how much? Has there been any recent updates from BHP about progress details, markets etc.
Do you have a view on worth to BHP?
