Tag: Motley Fool

If you’re interested in gaining exposure to the small side of the market, then you might want to take a look at the small cap ASX shares listed below. 

Here’s why these small cap ASX shares are ones to watch:

MyDeal.com.au Limited (ASX: MYD)

MyDeal.com.au is an online retail marketplace with a focus on homewares, furniture, and technology. It has been growing very strongly during the pandemic. In February, the company released its half year results and revealed a 217% increase in gross sales to $126.7 million. Underpinning this growth was increased repeat purchasing and a jump in active customers to 813,764. Despite this strong result, the MyDeal share price has been dragged lower due to weakness in the tech sector. So much so, it is now trading 12% lower than its IPO price of $1.00.

PlaySide Studios Limited (ASX: PLY)

PlaySide Studios is one of the largest independent video game developers in Australia. At present, the company has a total of 55 titles developed, including games based on its own original intellectual property and games developed with Hollywood studios. The latter comprises titles relating to Jumanji, The Walking Dead, and Disney Pixar’s Cars. From these titles, PlaySide delivered record sales revenue of $5 million during the first half of FY 2021. This was up 63% on the prior corresponding period. The good news is that this is just a tiny fraction of its global market opportunity. Management estimates that it has a US$159 billion global addressable market.

Serko Ltd (ASX: SKO)

Another small cap to watch is Serko. It is the online travel booking and expense management provider behind the Zeno Travel and Zeno Expense platforms. Zeno Travel provides AI-powered end-to-end travel itineraries, cost control and travel policy compliance to corporate customers. Whereas Zeno Expense allows users to automate and streamline the expense administration function, identify out-of-policy expense claims, and prevent fraud. Demand for its offering fell heavily during the pandemic, but is expected to bounce back strongly once trading conditions return to normal. A new (and significant) deal with travel giant Booking.com will also be a big boost.

More reading

• 3 exciting small cap ASX shares to watch
• Looking for the next Afterpay and Zip? Try these small cap ASX shares
• Will the Kogan (ASX:KGN) share price making a comeback in April?
• 2 small cap ASX shares to watch closely
• Why the Serko (ASX:SKO) share price is on watch this morning

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Serko Ltd. The Motley Fool Australia has recommended Serko Ltd. 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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One thing the Australian share market is not short of is dividend shares. But with so many to choose from, it can be hard to decide which ones to buy.

To help narrow things down, I have picked out two highly rated dividend shares. They are as follows:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

Although the big four banks have rallied strongly from their 2020 lows, it may not be too late to invest.

Especially given the ever-improving outlook for the sector. With the Royal Commission a distant memory, the housing market booming, and responsible lending rules eased, ANZ and the rest of the big four look well-placed for growth in the coming years.

Morgans is positive on ANZ bank and currently has an add rating and $31.00 price target on its shares.

The broker is also forecasting a $1.45 per share dividend in FY 2021 and a $1.61 per share dividend in FY 2022. Based on the current ANZ share price, this represents fully franked yields of 5.1% and 5.6%, respectively.

Charter Hall Social Infrastructure REIT (ASX: CQE)

Another ASX dividend share to consider buying is the Charter Hall Social Infrastructure REIT.

This real estate investment trust has a focus on social infrastructure properties. This means properties such as childcare centres and government buildings, which have specialist use and low substitution risk.

The properties also generally come with ultra-long tenancies and fixed rent reviews. For example, at the end of the first half, the Charter Hall Social Infrastructure REIT had a weighted average lease expiry (WALE) of 14 years and 63.3% of its leases on fixed rent reviews. This gives the company great visibility on its future earnings and distributions.

In respect to the latter, in FY 2021 the company intends to increase its distribution to 15.7 cents per unit. Based on the current Charter Hall Social Infrastructure share price, this represents a 5% yield.

Goldman Sachs is a big fan of the company. Its analysts currently have a conviction buy rating and $3.45 price target on its shares.

More reading

• Westpac, ANZ, CBA share prices dip after class action for ‘junk’ insurance
• ANZ Bank’s (ASX:ANZ) profit result could get an extra boost: Macquarie
• NAB (ASX:NAB) chair signals ‘rational’ responses to curb booming housing market
• ‘Worst performer’: ASX bank shuts 146 branches since COVID
• The Westpac (ASX:WBC) share price is the best performing of the big four banks in 2021

Motley Fool contributor James Mickleboro 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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On Wednesday the S&P/ASX 200 Index (ASX: XJO) finished well off its low but still recorded a disappointing decline. The benchmark index fell 0.3% to 6,997.5 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 to rebound

The Australian share market looks set to rebound on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.45% higher today. This follows a positive night of trade on Wall Street, which saw the Dow Jones jump 0.95%, the S&P 500 rise 0.9% and the Nasdaq storm 1.1% higher.

Oil prices sink

It could be a difficult day for energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) after oil prices sank lower. According to Bloomberg, the WTI crude oil price is down 2.6% to US$61.02 a barrel and the Brent crude oil price has fallen 2.4% to US$64.99 a barrel. Reports on an inventory build in the US and rising COVID cases in India weighed on prices.

Gold price pushes higher

Gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) could be on the rise after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.95% to US$1,745.70 an ounce. This was driven partly by softening bond yields.

Tech shares to rise

It could be a positive day of trade for Australian tech shares including Afterpay Ltd (ASX: APT) and Nextdc Ltd (ASX: NXT) on Thursday. This follows a very positive night of trade for the tech-heavy Nasdaq index. With the local tech sector tending to follow the lead of the Nasdaq, its 1.1% overnight gain bodes well for today’s session.

Santos first quarter update

The Santos Ltd (ASX: STO) share price will be one to watch this morning when it hands in its first quarter update. Investors will be interested to see if Santos is performing in line with its guidance for FY 2021. The energy producer is guiding to production of 84-91 mmboe and sales of 98-105 mmboe this year. This is expected to be achieved with upstream production costs of US$8.00-US$8.50/boe.

More reading

• ASX 200 dips, Corporate Travel flies, Nuix sinks
• What’s with the Advanced Human Imaging (ASX:AHI) share price today?
• ASX stock of the day: Freelancer (ASX:FLN) shares shoot higher
• Why ASX 200 retail shares like Super Retail (ASX:SUL) are worth watching
• Top brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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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At the small end of the share market there are a number of companies growing at a rapid rate. Two that stand out right now are listed below. 

Here’s what you need to know about them:

Booktopia Group Ltd (ASX: BKG)

The first small cap to watch is Booktopia. It is an online book retailer which has really caught the eye since its IPO late last year.

There was a time when many thought that Amazon’s launch in Australia would kill off Booktopia, but it certainly hasn’t been the case.

During the first half of FY 2021, the company shipped a total of 4.2 million units for the six months. This was up 40% on the prior corresponding period.

This led to Booktopia reporting a 51.1% increase in revenue to $112.6 million and a 502.3% jump in underlying EBITDA to $8 million.

Analysts at Morgans appear confident there will be more of the same in the future.

In light of this, it has placed an add rating and $3.53 price target on its shares.

Universal Store Holdings Limited (ASX: UNI)

Another small cap ASX share to watch is Universal Store.

It is a fashion retailer delivering a frequently changing and carefully curated selection of on-trend items to a target 16-35 year old fashion focused customer.

Its offering is clearly resonating well with consumers. In February the company released its half year results and revealed a 23.3% increase in sales to $118 million.

And thanks to margin expansion, it posted a 63.6% increase in underlying net profit after tax to $21.1 million.

Positively, Universal Store started the second half strongly and looks well-placed to deliver a bumper full year profit result.

Morgans is also a fan of Universal Store. It currently has an add rating and $8.37 price target on its shares.

The broker believes the company can grow its earnings by a compound annual growth rate of 34% over the coming years.

More reading

• Here’s why SEEK (ASX:SEK) and these ASX shares are at 52-week highs
• Why the Booktopia (ASX:BKG) share price is climbing today
• 2 of the best small cap ASX shares to watch
• 2 rapidly growing small cap ASX shares to buy
• 3 exciting small cap ASX shares to watch

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Booktopia Group Limited. 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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KGL Resources Ltd (ASX: KGL) shares were plummeting today on the back of the company’s quarterly report. By the market’s close, the KGL share price was trading 8.88% lower at 77 cents.

Let’s take a closer look at the quarter that’s been for KGL Resources.

Balance sheet boost

While KGL’s results for the quarter ending 31 March 2021 weren’t the strongest, it wasn’t all doom and gloom.

The company reported very little in the way of income from its operating activities – just $64,000. After employee and operating expenses, KGL reported a loss of $368,000 over the course of the quarter.

In late February, the company conducted an institutional placement, earning itself around $23.7 million (before costs) in the process. This has left the company with a little more than $24 million in the bank at the end of the quarter.

KGL holds no debt and has an estimated $17.5 million in cash ready to use on future operating activities – a large increase from the $7 million it had at the end of the previous quarter.

Project update

During the quarter, KGL continued developing its Jervois Copper Mine Project in the Northern Territory. It is now working towards attaining its feasibility study.

The project’s pre-feasibility study found it could support a mining operation at the rate of 30,000 tonnes of copper concentrate, as well as gold and silver, per year for an initial 7.5 years.

The company states it is working to improve the quality and size of the resource, extend its mine life and improve its economics.

This quarter was the first in which the company could begin drilling at the site once more after the project was shut down for 12-months following the COVID-19 pandemic. Drilling recommenced in February.

Part of the capital raise completed by KGL this quarter went towards funding a second drill rig for the Jervois Project. According to the company, 11 holes were drilled at the project over the last quarter, with assay results expected in the June quarter.

KGL Resources share price snapshot

While today’s news hasn’t been kind to the KGL Resources share price, its performance on the ASX of late has given it some wiggle room.

Currently, the company’s shares are up by around 185% year to date. They are also up by around 380% over the last 12 months.

KGL Resources has a market capitalisation of around $327 million, with approximately 387 million shares outstanding.

More reading

• 2 buy-rated ASX healthcare shares
• MoneyMe (ASX:MME) share price rockets 8% on Autopay launch
• 2 excellent ASX 200 blue chip shares rated highly
• Brokers name 2 quality ASX dividend shares to buy
• ASX 200 dips, Corporate Travel flies, Nuix sinks

Motley Fool contributor Brooke Cooper 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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The healthcare sector has been a great place to invest over the last few years. Thanks to increasing demand due to a number of industry tailwinds, this side of the market has flourished.

The good news is that demand continues to increase and looks unlikely to stop doing so for some time to come. This could make the sector a great place to invest with a long term view.

But which ASX healthcare shares should you buy? Two to consider are listed below:

Ramsay Health Care Limited (ASX: RHC)

Few companies will benefit from increasing demand for healthcare services more than Ramsay Health Care. It is a leading private healthcare company with operations across the world.

While the pandemic led to a significant drop in elective surgeries, trading conditions have been improving greatly. As a result, Ramsay looks well-placed to benefit from a backlog in surgeries in the near term and increased demand for healthcare services over the long term. 

In addition to this, the company has a long history of accelerating its growth through acquisitions. And given its strong balance sheet, it wouldn’t be overly surprising to see the company make another purchase in the near term.

One broker that is a fan of Ramsay is Macquarie. Its analysts have an outperform rating and $75.00 price target on its shares.

ResMed Inc. (ASX: RMD)

Another quality healthcare share to look at is ResMed. It is one of the world’s leading sleep treatment-focused medical device companies.

Thanks to its industry-leading products, growing software business, the increasing awareness of sleep disorders, and its investment in R&D, ResMed has been growing at a consistently strong rate for a number of years.

Positively, the company still has a long runway for growth. This is thanks to its huge addressable market and the shift to home healthcare. The latter is being supported by its comprehensive out-of-hospital software platforms.

Morgans is bullish on ResMed. It currently has an add rating and $30.09 price target on its shares.

More reading

• 2 brilliant blue chip ASX 200 shares brokers love
• The latest 3 ASX shares leading brokers are urging you to buy now
• 3 fantastic ASX shares to buy this month
• 3 of the best ASX shares to buy this month
• 2 quality ASX shares to buy and hold for a very long time

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ramsay Health Care Limited and ResMed Inc. 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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MoneyMe Ltd (ASX: MME) shares were shooting for the stars on Wednesday after the company launched its latest product, Autopay. By the market’s close, the MoneyMe share price was trading at $1.55 – up 7.64%. By comparison, the All Ordinaries Index (ASX: XAO) ended the day 0.32% lower.

In other news impacting the personal finance company’s shares today, MoneyMe held its investor presentation, which was attended by Motley Fool Australia. 

Let’s take a closer look at today’s developments.

Autopay launches – MoneyMe share price floors it

The MoneyMe share price was speeding away today after the company announced in a statement to the ASX it had launched Autopay, “a secured vehicle finance solution for dealers”. MoneyMe managing director and CEO Clayton Howes said the company’s latest product would “disrupt” the old broker model.

“In the same way that people look to Afterpay for where they shop, we expect consumers will look to Autopay when they purchase their vehicles,” Mr Howes commented.

Taking an average of 60 minutes, car dealers will be to receive payment for settlement instantaneously, seven days a week, according to the company. At today’s presentation, a MoneyMe employee said the company would use its artificial intelligence (AI) technology, AIDEN, to rapidly assess the creditworthiness of the customer.

MoneyMe already uses AI decision making across its other loan products. The company also advised it will independently assess the valuation of vehicles purchased via its platform using data from the website CarsGuide.

MoneyMe estimates the automotive finance industry to be worth $12 billion in Australia. It expects the market to grow 2% annually.

Autopay is the latest addition to the MoneyMe suite of products and further diversifies the business. The company already provides personal loans, credit cards, real estate expense loans and even financing for scooter purchases. Investors are reacting well to the news, judging by today’s MoneyMe share price moves.

Investor showcase

Attended by Motley Fool Australia, MoneyMe today gave a presentation to its investors on its current offerings, operations, and plans for the future.

During its presentation, MoneyMe highlighted its sophisticated AI technology and how this helps differentiate it from other lending providers. Built and run entirely in-house, the system uses over 150 data points to instantly assess the creditworthiness of potential customers.

According to MoneyMe, its product is more precise in identifying risk than competitor Equifax.

“At the beginning of the pandemic [MoneyMe] was able to quickly adapt to the evolving situation,” Mr Howes exclusively told The Motley Fool.

Mr Howes provided an example of how the system was able to quickly pick up those employed in the hospitality and tourism sector as being at heightened risk. He said that, to this day, hospitality and tourism employees are flagged by the system because of their extra exposure to economic uncertainty brought about by COVID-19 .

“Big lenders say it will take them 6 months to reassess. We’re a small company, we don’t have 6 months.”

Mr Howes and MoneyMe CFO Neal Hawkins also stated that the company was in a good position to handle unforeseen events.

“[During COVID] unemployment would have needed to be around 30% for us to be in serious trouble,” Mr Howes said.

Mr Hawkins, similarly, was upbeat, telling this reporter, “We are a highly diversified company. We don’t rely on a few big borrowers to prop us up.”

MoneyMe share price snapshot

Over the past 12 months, the MoneyMe share price has increased by 98.72%. Only two days ago, MoneyMe released its Q3 results. Originations were at $108 million – a 57% increase on the last period and a 111% jump on the prior corresponding period. Revenue increased 25% to total $13 million for the quarter.

MoneyMe has a market capitalisation of around $247 million.

More reading

• Why Corp Travel Management, Imugene, MoneyMe, & Syrah are pushing higher
• MoneyMe (ASX:MME) share price edges higher on positive trading update
• ASX stock of the day: Moneyme (ASX:MME) shares in the spotlight

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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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Are you wanting to add some blue chip ASX 200 shares to your portfolio? If you are, then you might want to check out the two listed below.

These quality companies have been tipped as ones that could grow at a solid rate over the next decade, potentially generating strong returns for investors. Here’s why they are highly rated:

Sonic Healthcare Limited (ASX: SHL)

The first blue chip ASX 200 share to look at is Sonic Healthcare. It is a leading medical diagnostics company with operations across the world.

Partly due to COVID-19 testing, Sonic has been a very strong performer so far in FY 2021. During the first half, the company reported a 33% increase in revenue to $4.4 billion and a 166% jump in first half net profit to $678 million.

The good news is that COVID testing looks set to continue for some time to come, which bodes well for the company’s growth in the second half and FY 2022. After which, the rest of its business looks well-placed to benefit from a backlog in healthcare work.

In addition to this, due to its strong balance sheet, Sonic has the opportunity to accelerate its growth through acquisitions.

One broker that is particularly positive on the company is Credit Suisse. It currently has an outperform rating and $40.00 price target on the company’s shares.

Woolworths Limited (ASX: WOW)

Another blue chip ASX 200 share to consider is Woolworths. Like Sonic, this retail giant has also been performing strongly in FY 2021.

Thanks to positive performances by its BIG W, BWS, Dan Murphy’s, Woolworths supermarkets businesses, the company reported a 10.5% increase in revenue to $35.8 billion and a 15.9% increase in net profit after tax to $1,135 million.

And while its growth will moderate in the second half when it cycles the panic buying at the height of the pandemic, Woolworths remains well-placed for growth in a post-pandemic world according to Goldman Sachs.

The broker is positive on the company and retained its buy rating and $43.60 price target on its shares this morning.

More reading

• Is the Woolworths (ASX:WOW) share price in the buy zone?
• ASX 200 down 0.4%: Afterpay delivers stellar Q3 growth, Rio Tinto Q1 update
• Woolworths (ASX:WOW) share price lower despite announcing $223m investment
• Wesfarmers (ASX:WES) share price climbs 10% in a month amid ‘favourable momentum’
• Top broker picks ASX shares next in line for a profit upgrade

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Woolworths Limited. The Motley Fool Australia has recommended Sonic Healthcare Limited. 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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With savings accounts and term deposits still offering very low interest rates, the share market arguably remains the best place to earn a passive income.

However, with so many dividend shares to choose from, it can be hard to decide which ones to buy. Luckily, brokers have been doing the hard work for you and have picked out two to buy. They are as follows:

Super Retail Group Ltd (ASX: SUL)

Super Retail is a retail conglomerate that owns the BCF, Macpac, Rebel, Supercheap Auto brands.

It has been growing at a solid rate in recent years and particularly during FY 2021. With international tourism off the cards, Super Retail has been benefiting greatly from a redirection in consumer spending.

This led to the company reporting a 23% increase in sales to $1.78 billion and a massive 139% increase in underlying net profit after tax to $177.1 million during the first half.

Goldman Sachs appears to believe more of the same is coming in the second half. And the good news for shareholders is that it expects this to lead to the company rewarding shareholders with a special dividend with its full year results.

The broker expects a dividend of ~81 cents per share in FY 2021. Based on the current Super Retail share price, this equates to a fully franked 6.5% yield. Goldman Sachs has a buy rating and $15.00 price target on its shares.

Transurban Group (ASX: TCL)

Another dividend share to consider is Transurban. This toll road operator owns a collection of important roads in Australia and North America which offer significant time-savings and have strong pricing power. This includes CityLink in Melbourne and the Cross City Tunnel and Eastern Distributor in Sydney.

While the pandemic led to a sharp drop in traffic volumes, volumes are improving and will continue to do so as vaccines roll out.

One broker that believes it won’t be long until its distributions rebound is Ord Minnett. It recently retained its buy rating and $16.00 price target on its shares.

The broker is forecasting dividends of 37 cents per share in FY 2021 and 58 cents per share in FY 2022. Based on the latest Transurban share price, this equates to yields of 2.6% and 4.1%, respectively, over the next two years.

More reading

• Why ASX 200 retail shares like Super Retail (ASX:SUL) are worth watching
• Brokers think these shares can outperform the ASX 200
• These high yield ASX dividend shares are rated as buys
• ASX 200 Weekly Wrap: ASX 200 hits new post-COVID high
• Top brokers name 3 ASX shares to buy next week

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia owns shares of Transurban Group. 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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The S&P/ASX 200 Index (ASX: XJO) dropped by 0.3% today to 6,997 points.

Many ASX blue chips were actually down much in early trading after a rough night in overseas shares. However, there was a steady recovery throughout today.

Here are some of the highlights from the ASX:

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel share price was one of the best performers today in the ASX 200 rising by around 3.5%.

The travel business said that it broke even in March and expects to be generating positive underlying earnings before interest, tax, depreciation and amortisation (EBITDA) in the fourth quarter of FY21. This will be led by the UK, European and ANZ regions of the business.

There has been strong domestic demand in the ANZ region, with total client activity climbing to 85% of FY19 booking levels as of last week. New Zealand continues to be a standout, with trading at more than 160% of FY19 booking levels.

It has won significant clients in the UK and European region despite the lockdowns, which are contributing to profitability because of the essential nature of that travel. The US is also seeing positive signs of an activity recovery.

Management also pointed out that it could be on course for a good recovery because 70% of pro forma revenue was generated from the US and the UK, where vaccination efforts are advanced.

Nuix Ltd (ASX: NXL)

The Nuix share price fell around 15% today after revising its FY21 forecasts.

During April, a significant and larger-than-expected number of Nuix’s customers, including one of its largest, elected to transition from module-based subscription licenses to consumption and software as a service (SaaS) license models, resulting in a shift in both revenue and ACV profiles.

It has reduced its forecast revenue to a range of $180 million to $185 million, down from $193.5 million which was forecast in the IPO prospectus.

Annualised contract value (ACV) is now expected to be in a range of $168 million to $177 million (down from $199.6 million).

Pro forma EBITDA is expected to be $64.6 million to $66.6 million, up from a forecast of $63.6 million.

Management said that an acceleration in customer transition to the new models impacts the revenue profile, but delivers significant longer-term business model benefits.

The current operating environment has reduced near-term upselling opportunities. Revenue from renewals and new business remain in line with expectations.

Despite that, Nuix said that there has been strong underlying business performance with substantial increases in new customers won, and total and average order values, compared to the same period in FY20. One new win has been an Australian state government.

BHP Group Ltd (ASX: BHP)

The BHP share price went down around 0.5% after revealing its report for the period ending March 2021.

For the ASX 200 share’s all-important iron ore division, production for the nine months to March 2021 increased by 4% to 188 million tonnes. Guidance for FY21 remains unchanged at between 245 million tonnes to 255 million tonnes.

Looking at the same year to date to March 2021 period, copper production was down 6%, petroleum production was down 8%, metallurgical coal production was down 2% and energy coal production was down 26%.

BHP chief executive officer Mike Henry said:

We are reliably executing our major projects, bringing on new supply in copper, petroleum and iron ore. The Spence growth option and Samarco are ramping up and West Barracouta, in petroleum, started production this month. First production from petroleum’s Roby project is expected in the coming weeks and South Flank, with its higher grade and lump proportion, is on track to begin production in the middle of the year.

More reading

• What’s with the Advanced Human Imaging (ASX:AHI) share price today?
• ASX stock of the day: Freelancer (ASX:FLN) shares shoot higher
• Why Rio Tinto (ASX:RIO) and BHP (ASX:BHP) look set for another profit upgrade
• Why ASX 200 retail shares like Super Retail (ASX:SUL) are worth watching
• Why Challenger, Nuix, Splitit, & Temple & Webster are sinking

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Nuix Pty Ltd. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia has recommended Nuix Pty Ltd. 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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