BHP-Billiton hit $29.32 today. They have trebled over the past few years. They closed lower than this but my guess is they have further to go. The company has announced that it will increase the buyback of its shares by $2.25 billion. The stock has increased about 20% since I tipped them on 11th February this year on this blog.
The attached dramatic graph, released today by the RBA shows why the world's largest mining company is doing so well. Actually there was a very slight decline in prices in March (you would have to be brave to pick a peak) but the dramatic growth over the past 6 years is clear.
Update: The role of BHP-Billiton's uranium sales from Olympic Dam to China are emphasised here. BHP-Billiton got WMC for a song and will reap rewards for decades.
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3 comments:
and we have a record current account deficit!
As I have said before Homer I think the big deficits are, in part, a welcome way of financing a massive investment boom - primarily in resources but throughout the economy.
Bill says I'm crazy but I think commodity quotes is worth looking into.
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