BHP Shares Trade Higher As Mining Giant Confirms Record Outputs For Copper, Iron Ore
Portfolio Pulse from Lekha Gupta
BHP Group Limited (NYSE:BHP) shares are trading higher after reporting record outputs for copper and iron ore in FY24. Copper production increased by 6% Y/Y, beating consensus estimates, while iron ore production also rose by 6% Y/Y. The company met its production guidance for all commodities and expects further growth in FY25. Investors can gain exposure to BHP via the Exchange Traded Concepts Trust Optica Rare Earths & Critical Materials ETF (NYSE:CRIT) and VanEck Natural Resources ETF (NYSE:HAP).
July 17, 2024 | 1:54 pm
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POSITIVE IMPACT
BHP Group Limited reported record outputs for copper and iron ore in FY24, with copper production beating consensus estimates. The company met its production guidance for all commodities and expects further growth in FY25.
BHP's record outputs and beating of consensus estimates for copper production are positive indicators for the company's performance. The stock is likely to see a short-term increase due to these strong operational results.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to BHP's strong performance via the Exchange Traded Concepts Trust Optica Rare Earths & Critical Materials ETF (NYSE:CRIT).
CRIT ETF includes BHP, and the strong performance of BHP is likely to positively impact the ETF's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to BHP's strong performance via the VanEck Natural Resources ETF (NYSE:HAP).
HAP ETF includes BHP, and the strong performance of BHP is likely to positively impact the ETF's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50