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Fly News Breaks for March 3, 2020
BHP
Mar 3, 2020 | 07:56 EDT
Argus analyst David Coleman downgraded BHP Group to Hold from Buy, noting the company has missed earnings expectations in 5 of its past 8 reporting periods while also significantly underperforming the market over the past quarter and year. The analyst adds that BHP may have trouble selling its coal business due to environmental concerns as the management shifts its production focus to copper and nickel. Coleman also lowers his FY20 and FY21 EPS outlook by 3c and 19c to $3.85 and $3.96 respectively.
News For BHP From the Last 2 Days
BHP
Apr 13, 2021 | 17:51 EDT
Goldman Sachs analyst Paul Young downgraded Fortescue Metals (FSUGY) to Sell from Neutral with a price target of A$18.9, down from A$20.4 as part of a broader research note on bulk miners. The analyst is citing the company's premium valuation relative to BHP (BHP) and Rio Tinto (RIO) and the ongoing capex and timing risks associated with its Iron Bridge project and uncertainties around Fortescue Future Industries diversification.