$BHP GROUP LTD(BHP.AU)$Bullish
BHP has just released its Full Year Earnings Report yesterday and it was an outstanding one! It reported record earnings of USD 40.6 billion and record free cash flow of USD 24.3 billion. A final dividend of USD 1.75 per share will be paid. Total cash dividend for the year is USD3.25. This works out to be 11.2% dividend yield and with 100% franking, the grossed up yield is 16%!
BHP share price jumped 4.1% to a 6 week high of AUD 40.51 yesterday! The record earnings was due to surging commodity prices and record iron ore sale. BHP is Australia's largest company on the ASX and accounts for 10% of the S&P/ASX200 index.
BHP is the world's largest miner by market capitalisation. Its main operations include iron ore, copper and metallurgical coal. Minor contributions are from thermal coal and nickel. BHP is also developing its Jansen potash project in Canada. BHP has merged its oil and gas assets with Woodside Energy in June 2022, giving Woodside shares it received to its BHP shareholders and exiting the sector.
BHP is well placed to continue its strong position as a market leader in commodities especially iron ore. It has a strong cash flow which makes it less susceptible to volatile economic cycles.
I am bullish on $BHP GROUP LTD(BHP.AU)$as it ticks all the core fundamentals of a quality stock. It is certainly profitable, has a solid balance sheet and excellent management team. What I like best about BHP is its huge dividends that beats putting puny interest rates in a regular savings account.
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