In the first quarter, copper production at BHP drops by 4 percent, while the amount of iron ore produced increases by 8 percent. The mining company reports a decline of 9 percent for oil and gas. Overall, the production figures are mixed.
BHP confirms its production targets for the year as a whole. However, the strike in a coal mine in Colombia could still lead to adjustments.
For the analysts at DZ Bank, the hold recommendation for the shares of BHP remains. The analysts still see the price target for the papers at 17.10 GBP.
No changes will be made to profit expectations either. For the current financial year, the experts forecast earnings per share of 1.66 dollars, in the coming year it should be 1.67 dollars.
BHP is making progress in developing several greenfield projects. There is encouraging evidence from drilling at Oak Dam, Australia. There is a copper deposit there. There will be more drilling there in the coming months.