BHP first half not too far from the mark

Stock

BHP Group (ASX: BHP) $32.89 as at 22/01/2019

Event

The BHP share price is trading lower today, slightly under performing the market and its peers after the release of the 1st half production report.

6 months into the year, the company appears to be on track to hit guidance across the board despite being slightly behind in some areas.

Petroleum production as strong, largely better than expected, while iron ore & copper came in a touch short of expectations. Iron ore was impacted by the train derailment back in November, while Copper was hit by outages at their Escondida mine.

Commentary also suggested that costs had crept up as a result of maintenance and outages, something that they expect to offset in the second after reiterating cost guidance.

All in all not a bad a bad first half but some ground to make up in the second – not uncommon for BHP or other miners.

BHP Group (ASX:BHP) Chart

BHP Billiton (BHP)

Market Matters Take/Outlook

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