BHP’s Share Price Rises 3.6% after 2018FY First Half Results

Shares of BHP Billiton Ltd [ASX:BHP] climbed in value by 3.6% in today’s trading.

Today BHP released its 2018FY first half results.

BHP meet production guidance

BHP’s first half results brought exciting news to investors, stating it had met or exceeded full year production guidance in petroleum, cooper, iron ore and energy coal, while also meeting the revised guidance for metallurgical coal.

But the company has also been under pressure to exit its US shale oil venture since confirming last August that it would be exploring options to offload the onshore assets.

Today the company announced they are now planning to exit US offshore assets. To find out why, click here. 

BHP higher share prices

BHP is expecting to achieve full year unit cost guidance in their major assets, which they have based on this year’s current guidance exchange rates.

BHP’s Chief Executive Officer, Andrew Mackenzie, said strong operating performance in the first half allowed the company to capture the benefit of higher prices. Mackenzie stated:

The successful Los Colorados Extension project ramp-up (at Escondida) contributed to a 17 per cent increase in copper output and production records were achieved at a number of Western Australia iron ore and Queensland coal mines.

The momentum we’ve built across the wider portfolio during the second quarter will flow through to an expected stronger second half operating performance.

Regards,

Ryan Clarkson-Ledward,
For Markets & Money

PS: There are other mining stocks that we at Markets & Money have full confidence in. We believe they could make you huge money in the next 12 months and beyond. And you can find them easily on the ASX. Download your free copy of the ‘Top 10 Mining Stocks For 2018’ report now.

 

 


Ryan Clarkson-Ledward is a junior analyst for Markets & Money. Ryan has degrees in both communication and international business. His priority is bringing you the latest price updates on stocks through ASX updates, as well as supporting Sam Volkering with background research. As part of the team at Markets & Money his aim is to provide unbiased and relevant news for readers. Ryan’s work with Sam is designed to provide research that complements Sam’s analysis for small-cap and technology stocks. Together, their objective is to break through all the jargon and give you the hard facts to inform your investment decision-making. Ryan writes for:


Leave a Reply

Your email address will not be published. Required fields are marked *

Markets & Money