The S&P/ASX 200 Index (ASX: XJO) gained 1.1% in February. That came off the back of a 9.9% fall in the first 3-plus weeks of January.
Most ASX 200 mining shares didn’t fall nearly that hard, or at all, in the early weeks of 2022. So, they didn’t have as much rebound potential as the wider index.
Still, that didn’t keep one of the iron ore giants from trouncing the benchmark gains, as it announced the biggest dividend in Australian history last month.
How did these 3 top ASX 200 mining shares move in February?
From the closing bell on 31 January through to the closing bell on 28 February, the BHP Group Ltd (ASX: BHP) share price gained 0.7%.
But that doesn’t tell the full story.
BHP reported strong half year results (1H FY22) on 15 February, beating consensus expectations. BHP’s revenue leapt 27% from 1H FY21 to hit US$30.53 billion. Underlying profits reached US$9.72 billion, up 57% year-on-year.
It also declared a $2.08 fully franked interim dividend.
Importantly, the ASX 200 mining share went ex-dividend on 24 February. This, as you’d expect, saw BHP’s share price drop 6.9% on the day. So we’ll need to factor that into its February performance.
Meanwhile rival ASX 200 mining share, Rio Tinto Limited (ASX: RIO), gained 5.9% in February.
Rio Tinto reported its full year results after market close on 23 February. And Rio Tinto didn’t disappoint.
Among the highlights, the miner’s underlying earnings before interest, tax, depreciation and amortisation (EBITDA) reached US$37.72 billion. That was up 58% from the prior year.
Rio also declared a total dividend payout of US$10.40 per share, up a whopping 87% from FY20, and the biggest ever in Aussie history.
The difference from BHP, however, is that Rio Tinto didn’t go ex-dividend in February. Hence that hasn’t yet impacted its share price.
Moving on to number 3
Moving on to our third leading ASX 200 mining share, Fortescue Metals Group Limited (ASX: FMG) closed February down 8.6%.
Fortescue reported its half year financial results on 16 February. And unlike its competitors, Fortescue’s figures slumped year-on-year.
The miner’s total revenue was down 13% from 1H FY21 to US$8.1 billion. Underlying net profit after tax (NPAT) also slipped 32% to US$2.8 billion. And its 86 cent fully franked interim dividend was also down 41% year-on-year.
Topping that off, the ASX 200 mining share went ex-dividend on 28 February, which saw shares close the day down 2.4%.
The post Here’s how these top 3 ASX 200 mining shares performed in February appeared first on The Motley Fool Australia.
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More reading
- ASX 200 (ASX:XJO) midday update: Rio Tinto, South32 storm higher, PointsBet sinks
- Why did the BHP (ASX:BHP) share price deliver such lacklustre gains in February?
- ‘A lot of headroom to grow’: Is 2022 the year ASX investors turn to ESG shares?
- How might the conflict in Ukraine impact the iron ore price?
- Tell him he’s dreamin’: Are the Fortescue (ASX:FMG) green hydrogen plans realistic?
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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