BHP Group has divested its 33.3% interest in Cerrejon for US$294m. A -US$80m impairment will be recognised at the FY21 result.
The company will also continue the divestment process for its remaining thermal coal asset in NSW and metallurgical coal assets in the BMC joint venture.
Macquarie observes earnings upgrade momentum remains strong and retains an Outperform rating and $63 target.
Sector: Materials.
Target price is $63.00.Current Price is $48.40. Difference: $14.60 – (brackets indicate current price is over target). If BHP meets the Macquarie target it will return approximately 23% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Post Views: 1