Is That A Bearish Pattern Forming?
Finweek English|14 May 2021
BHP (originally BHP Billiton), which was formed in 2001 through a merger of the Australian Broken Hill Proprietary Company and Anglo-Dutch Billiton plc, is a multinational mining, metals, and petroleum dual-listed public company headquartered in Melbourne, Australia. The company is one of the leading global players in this sector. In 2015, some of BHP’s assets were demerged and rebranded as South32. In the 2020 Forbes Global 2000, BHP Group was ranked as the 93rd largest public company in the world.
Moxima Gama

Share price history

BHP’s current uptrend commenced in 2016, after losing 70% of its share price value from 2014. In February 2011, BHP announced its arrival as a big and very ambitious player in the US shale oil game when it put down $6bn to buy the rights from Chesapeake Energy to around 500 000 acres of prospective shale gas reserves at Lafayette in Arkansas. This investment proved a bad bet that largely contributed to the record $6.4bn annual loss reported for 12 months through June 2016, compared with a net profit of $1.91bn a year earlier. BHP’s earnings also took hits from a deadly disaster at an iron ore mine in Brazil and weak oil and natural gas markets. BHP’s petroleum business, which was intended to help it through bad times in metals markets, lost $7.72bn after write-downs.

Current outlook

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM FINWEEK ENGLISHView All

What is a store of value?

Gold, cryptocurrencies and cash have all been argumented for as protection against inflation and market crashes. Simon Brown busts this myth.

3 mins read
Finweek English
11 June 2021

Simon's stock tips

Founder and director of investment website JustOneLap.com, Simon Brown, is finweek’s resident expert on the stock markets. In this column he provides insight into recent market developments.

6 mins read
Finweek English
11 June 2021

The morass that is coal supply to Eskom

The Seriti contract with the power generator shows up other issues in the supply chain to keep SA’s lights on.

3 mins read
Finweek English
11 June 2021

Swanky, safe, and more affordable

The Volvo XC40 T3 with its turbocharged three-cylinder engine brings a less pricey entry point to the XC40 range.

6 mins read
Finweek English
11 June 2021

Do central banks still care about inflation?

Structural consumer price increases may be abating. We’ll soon see whether monetary authorities will adapt their mandates.

3 mins read
Finweek English
11 June 2021

Are you on the right track with shares?

It is a good time to look at your portfolio to determine whether there are still good prospects, advises Schalk Louw.

3 mins read
Finweek English
11 June 2021

The Outlook For Inflation

What is driving higher local consumer prices?

3 mins read
Finweek English
11 June 2021

Does Convenience Cause Risk?

Thanks to technology, it has become far easier to make payments, but how safe are contactless payments and what are South Africans’ options?

7 mins read
Finweek English
11 June 2021

Stocks Protecting The Planet And Digital Lifestyles

Is it possible to invest in companies that aim to secure humans’ existence on an ever-dwindling planet and those that protect our increasingly digital lifestyles? Finweek looks at these issues and analyses four offshore companies that fit these themes.

10+ mins read
Finweek English
11 June 2021

Flush-Outs Among Cryptos Are Healthy

Valuing cryptocurrencies and determining their correlation with traditional asset classes are becoming easier.

4 mins read
Finweek English
11 June 2021