BHP ADR Compendium - A Snapshot as of April 18
Thursday April 18, 2024
www.buysellsignals.com
BHP Group Limited (N:BHP) last traded at $57.99 for a year to date return of -15.1%.
BHP Group Limited last traded at $57.99 for a year to date return of -15.1%.
BHP Group Limited, ADR largest Mining company by market cap, has added $2.32 (or 4.2%) in the past month to close at $57.99 today. The volume was 1.0 times average trading per month of 58 million shares.
BHP (BHP) Stock Dashboard [traded in Australian Dollars, AUD] End-of-Day Thu, Apr 18
Last | $A45.09 | Market Cap | $A229 billion [US$147 billion] | EPS Growth (FY2023 vs FY2022) | -58.2% | Today's VI* | 1.1 |
P/E | 11.3 | Dividend Yield % (TTM) | 5.2 | Today's Volume | 8,847,944 | Currency | 1.000 AUD = 0.642 USD |
EPS (FY2023) | $A2.55 | DPS (past 12 months) | $A3.8 or 378c | Ave Daily Volume | 7,842,605 shares | PV$1000 (1 yr) | $A1,077 US$1,032 |
Shares Outstanding | 5,071,530,817 | Exchange | AUSTRALIAN [ASX] | 52-Week Price Range | 39.52 - 49.58 | | |
BHP in Indices | All Ordinaries [of 387 stocks] | Sector | Materials [of 566 stocks] | |
http://www.bhpbilliton.com/VI* Volume Index = Number of shares traded today/Average number of shares traded per day.A year ago the exchange rate was USD 1 = 1.49 AUD. USD1000 would have bought $A1,494. A year ago the BHP share price was $A44.19. $A1,494 would have bought 33.8 BHP shares on that day. Those 33.8 shares would be worth $A1,525 at today's share price of $A45.09. At today's exchange rate of USD1=1.56 AUD this is equivalent to USD978. Dividends reinvested are worth $A56 ($54). PV$1000= $1,032.
BHP (BHP) ADR Dashboard End-of-Day Thu, Apr 18
http://www.bhpbilliton.com
Last | $57.99 | Market Cap | $147 billion |
EPS (FY2023) | $2.55 | Exchange | INTERNATIONAL DEPOSITORY RECEIPTS [Frankfurt, Xetra, USNYSE, Stuttgart] |
Shares Outstanding | 2,530,000,000 | % of shares outstanding | 3.8% |
Institutional Ownership | 95,889,807 | Sector | Mining [of 46 stocks] |
BHP in Indices | BNY Mellon Composite ADR [of 194 stocks] | Today's VI* | 1.1 |
EPS Growth (FY2023 vs FY2022) | -58.2% | PV$1000 (1 yr) | $1,018 |
Today's Volume | 2,889,900 | | |
Ave Daily Volume | 2,637,536 ADRs | | |
52-Week Price Range | 51.62 - 67.41 | | |
VI* Volume Index = Number of shares traded today/Average number of shares traded per day.
A year ago the BHP adr price was $60.10. $1,000 would have bought 16.6 BHP adr on that day. Those 16.6 ADRs would be worth $965 at today's adr price of $57.99. Dividends reinvested are worth $54. PV$1000= $1,018.
*Total ADRs Held by Institutions 95,889,807; equivalent to 191,779,614 BHP shares on issue. This represents 3.8% of total shares on issue.
Price Volume Snapshot past 3 months (USD)
Past month to | High | Low | VWAP | Volume Index * |
18 Apr 2024 | 60.5 | 55.9 | 58.3 | 1.0 |
18 Mar 2024 | 59.2 | 55.1 | 57.2 | 1.0 |
16 Feb 2024 | 59.2 | 58.6 | 60.7 | 1.0 |
[*Volume Index of 1.0 means volume for the month was 1.0 times its 12-month average]
[VWAP is defined as the Volume Weighted Average Price]
DATA & ARCHIVE DOWNLOAD CENTER
BHP ADR: EXPORT DATA TO EXCEL:
+ SHAREHOLDERS - COMPLETE LIST OF 653 INSTITUTIONS+ PEER COMPARISONBHP ADR: OTHER INFORMATION:
+ NEWS ARCHIVES - BHP PAST 4 YEARS IN HTML:+ STOCK BUZZ+ PRICE VOLUME CHARTSBHP: EXPORT DATA TO EXCEL:
+ PRICE VOLUME - 5-YEAR HISTORY+ FINANCIALS - 10-YEAR HISTORY [INCLUDING FY 2023]:+ PEER COMPARISONBHP: OTHER INFORMATION:
+ NEWS ARCHIVES - BHP PAST 4 YEARS:+ PRICE VOLUME CHARTS+ USD vs AUD EXCHANGE RATE CHARTS IN HTML+ COPPER COMMODITY PRICE CHARTS IN HTML+ COPPER COMMODITY BUZZ IN HTMLINDEX
SECTION 1 THE PAST QUARTER: PRESS RELEASESSECTION 2 THE PAST QUARTER: NEWS AND BUZZSECTION 3 INSTITUTIONAL OWNERSHIP UPDATED AFTER LAST SEC FILING Q4/2023 REPORTED ON FEB 17SECTION 4 TODAY'S BULLISH SIGNALSSECTION 5 ONGOING BULLISH PARAMETERSSECTION 6 TODAY'S BEARISH SIGNALSSECTION 7 ONGOING BEARISH PARAMETERSSECTION 8 CORPORATE PROFILESECTION 9 FINANCIALS H1/2023, FY 2023SECTION 10 TOP MANAGEMENT AND BOARD OF DIRECTORSSECTION 11 FINANCIALS AS REPORTED FY 2023
ADR IDENTIFIERS
GLOSSARY
SECTION 1 THE PAST QUARTER: PRESS RELEASES
1.1 Press Releases and Corporate Wire
Press Release article 1 of 1, Source: WEC, 31 words
February 25: BHP announces dividend
BHP today announced a cash dividend of $1.44 per share. The ex-dividend date is Thursday, March 07.
SECTION 2 THE PAST QUARTER: NEWS AND BUZZ
2.1 Institutional News [Updated April 17, 2024]
The source data is compiled as an aggregation of SEC filings. So far in this quarter 933 institutions have reported their holdings at the end of quarter Q1. The remaining 6,144 institutions are expected to file by day 45 of Q2, the deadline date.
2.1.1 Top 5 Institutions increasing their holdings in BHP ADRs [Q1/2024]
Institution Name (CIK) | Rank on Dec 31, 2023 | Dec 31, 2023 | Mar 31, 2024 | Increase % | *Today's Market Value $ million |
Vicus Capital (0001544806) | 47 | 263,019 | 263,927 | 0.35 | 15.4 |
Addenda Capital (0001569411) | 97 | 88,594 | 112,562 | 27.1 | 6.6 |
Hennion & Walsh Asset Management (0001861642) | 143 | 47,547 | 47,813 | 0.56 | 2.8 |
Range Financial Group (0001928635) | 330 | 8,486 | 34,166 | 302.6 | 2 |
Jeppson Wealth Management (0001831263) | 196 | 25,407 | 31,608 | 24.4 | 1.8 |
*Today's Market Value in $ million of holdings as at March 31, 2024.
2.1.2 Top 5 Institutions decreasing their holdings in BHP ADRs [Q1/2024]
Institution Name (CIK) | Rank on Dec 31, 2023 | Dec 31, 2023 | Mar 31, 2024 | Decrease % | *Today's Market Value $ million |
Perpetual (0001647273) | 32 | 431,209 | 355,309 | 17.6 | 20.8 |
Shorepath Capital Management (0002012685) | 117 | 63,743 | 63,181 | 0.88 | 3.7 |
Security National Bank (0001719739) | 153 | 42,082 | 36,774 | 12.6 | 2.1 |
D.B. Root & Co (0001731717) | 201 | 23,513 | 22,997 | 2.2 | 1.3 |
Park Avenue Securities (0001071640) | 215 | 20,143 | 20,016 | 0.63 | 1.2 |
*Today's Market Value in $ million of holdings as at March 31, 2024.
2.2 Stock Buzz
Source: Other Publishers
Apr | Headline | Publisher |
Thu 18 | BHP says first stage of Jansen mine almost halfway complete | Canadian Mining Journal |
Thu 18 | BHP turns toward future facing commodities with Jansen potash approval; sale of oil and gas division | The Northern Miner |
Tue 16 | BHP tied to gas until 2053 as power need swells on electric fleet | The Australian Financial Review |
Fri 12 | BHP changes out the guard | australianmining.com.au |
Thu 11 | If You re Not Bullish On BHP Group Limited ADR (NYSE: BHP) Now, You ll Be Kicked Later. | stocksregister |
Tue 09 | BHP Set to Dethrone Codelco as World s Biggest Copper Producer | YAHOO!Finance |
Please view more ADR Buzz stories in DATA DOWNLOAD CENTER
SECTION 3 INSTITUTIONAL OWNERSHIP UPDATED AFTER LAST SEC FILING Q4/2023 REPORTED ON FEB 17
Institutional Shareholder Activity3.1 Top 5 Institutional Ownership of BHP as at December 31, 2023
As at December 31, 2023, 644 Institutions (Funds) held investments in ADRs of BHP. Institutions increased their holdings to 3.8% of issued capital, up from 3.5% as at Sep 30. The largest ADRholder was Fisher Asset Management, LLC with 0.8% of BHP. The second largest ADRholder was Harding Loevner LP with 0.4%.
*Note: Minimum Core ADRholding is computed on the basis of SEC filings over the last 12 quarters (3 years). A higher % of ADRholding above the minimum core holding may be indicative of a potential positioning by an active institution to overweight.
BHP Top 4 Active Funds (in desc order of ADRs) hold 1.3% [second last column shows % above minimum core ADRholding; last column shows percentile rank by AUM (Assets Under Management) among 6832 Funds]. Please download the spreadsheet to view full list of 365 Active Funds holding 2.9% of BHP as at December 31, 2023.
Fund | ADRs | % of Total | Value $ | % above Core* | Percentile rank |
Fisher Asset Management, LLC (0000850529) | 19,902,182 | 0.8 | 1.4 B | 155 | 99 |
Morgan Stanley (0000895421) | 4,834,038 | 0.2 | 330.2 M | 355 | 100 |
Dimensional Fund Advisors LP (0000354204) | 4,430,056 | 0.2 | 302.6 M | 308 | 100 |
Wellington Management Group LLP (0000902219) | 4,389,504 | 0.2 | 299.8 M | 15,094 | 100 |
% Held by Top 4 Institutional ADRholders | 33,555,780 | 1.3 | 2.3 B | - | - |
BHP Top 1 Index Funds (in desc order of ADRs) hold 0.4% [second last column shows % above minimum core ADRholding; last column shows percentile rank by AUM (Assets Under Management) among 6832 Funds]. Please download the spreadsheet to view full list of 280 Index Funds holding 0.8% of BHP as at December 31, 2023.
Fund | ADRs | % of Total | Value $ | % above Core* | Percentile rank |
Harding Loevner LP (0000928196) | 10,703,882 | 0.4 | 731.2 M | - | 96 |
% Held by Top 1 Institutional ADRholders | 10,703,882 | 0.4 | 731.2 M | - | - |
3.2 Institutional ownership of BHP at Dec 31: Nuveen Asset Management top increase of 2,274%
As at December 31, 2023, 222 institutions or 34.0% of BHP's institutional ADRholders had increased their holding of ADRs in BHP from September 30. The top increase was by Nuveen Asset Management which increased its holding by 141,030 ADRs, or 2,274.3% to 147,231 ADRs.
Top 5 Increases [December 31, 2023 vs September 30, 2023]
Value is shown in the table below at December 31 BHP ADR price of $68.31.
Institution (CIK) | ADRs | Value, $ | % increase |
Nuveen Asset Management, LLC (0001521019) | 141,030 | 8.5 M | 2,274.3 |
Tower Research Capital LLC (TRC) (0001533421) | 985 | 59,271 | 1,132.2 |
Marshall Wace LLP (0001318757) | 199,245 | 12 M | 547.4 |
XY Capital Ltd (0001933132) | 103,134 | 6.2 M | 422.1 |
United Capital Financial Advisers, LLC (0001463217) | 12,892 | 775,757 | 362.8 |
Total | 457,286 | 27.5 million | - |
3.3 Institutional ownership of BHP at December 31, 2023: Wellington Management Group LLP top increase by worth
Top 5 Increases by worth [December 31, 2023 vs September 30, 2023]
Value is shown in the table below at December 31 BHP ADR price of $68.31.
Institution (CIK) | ADRs | Worth Change, $ |
Wellington Management Group LLP (0000902219) | 1,395,940 | 84 M |
Fisher Asset Management, LLC (0000850529) | 589,317 | 35.5 M |
Atlantic Trust Group, LLC (0001298088) | 420,550 | 25.3 M |
Neuberger Berman Group LLC (0001465109) | 394,240 | 23.7 M |
Ngam Advisors, LP (0001018331) | 249,991 | 15 M |
Total | 3,050,038 | 183.5 million |
3.4 Institutional ownership of BHP at Dec 31: Qube Research & Technologies top decrease of 100%
187 Institutional ADRholders decreased their holdings in Q4/2023. The top decrease was Qube Research & Technologies who reduced their ADRholding in BHP by 47,200 ADRs (100.0%) from 47,221 as at September 30 to 21 as at December 31.
Top 5 Decreases [December 31, 2023 vs September 30, 2023]
Value is shown in the table below at December 31 BHP ADR price of $68.31.
Institution (CIK) | ADRs | Value, $ | % Decreases |
Qube Research & Technologies Ltd (0001729829) | 47,200 | (2.8 M) | -100.0 |
BFSG, LLC (0001706836) | 20,235 | (1.2 M) | -99.7 |
Optiver Holding B.V. (0001859606) | 611,442 | (36.8 M) | -98.7 |
Point72 Asset Management, LP (0001603466) | 123,100 | (7.4 M) | -91.6 |
MRP Capital Investments, LLC (0001964831) | 64,068 | (3.9 M) | -91.3 |
Total | 866,045 | (52.1 million) | - |
3.5 Institutional ownership of BHP at Dec 31: Lord, Abbett & Co. top new ADRholder
An analysis conducted after the mid - quarter deadline of February 14 for Q4 SEC filings by 6997 institutions shows that there were 5 new institutional ADRholders. Lord, Abbett & Co. (728100) was the largest new ADRholder with 818,363 ADRs valued at $55.9 million as at December 31.
Top 5 New ADRholders as at December 31, 2023
Value is shown at price of December 31, 2023 (in desc order of ADRs)
Value is shown in the table below at December 31 BHP ADR price of $68.31.
Institution (CIK) | ADRs | Value, $ |
Lord, Abbett & Co. LLC (0000728100) | 818,363 | 55.9 M |
Susquehanna International Group, LLP (0001446194) | 386,420 | 26.4 M |
COMMONWEALTH EQUITY SERVICES, LLC (0000312272) | 124,666 | 8.5 M |
Walleye Trading Advisors, LLC (0001758720) | 123,846 | 8.5 M |
Mirabella Financial Services LLP (0001538853) | 118,500 | 8.1 M |
Total | 1,571,795 | 107.4 million |
3.6 Institutional ownership of BHP at Dec 31: Millennium Management LLC top exit
An analysis conducted after the mid - quarter deadline of February 14 for 20234 SEC filings by 6997 institutions shows that there were 5 exits. Millennium Management LLC was the largest exit with 441,084 ADRs valued at 25.1 M as at December 31.
Institution (CIK) | ADRs | Value, $ |
Millennium Management LLC (0001273087) | 441,084 | 25.1 M |
Capital Fund Management S.A. (0001323645) | 149,676 | 8.5 M |
Mackenzie Financial Corp (0000919859) | 138,700 | 7.9 M |
D. E. Shaw & Co., Inc. (0001009207) | 125,746 | 7.2 M |
First Republic Investment Management, Inc. (0001418204) | 120,361 | 6.8 M |
Total | 975,567 | 55.5 million |
Please view detailed Institutional Shareholders - Categorised and Complete List in DATA & ARCHIVE DOWNLOAD CENTER
SECTION 4 TODAY'S BULLISH SIGNALS
4.1 Rank in the top 22% by Price Performance in the International Depository Receipts market
Description | Value | Rank |
1-month Price Change % | 4.2 | In Top 22% |
4.2 Uptrend
Positive MACD:
- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 58.4 minus the 26-day EMA of 58.15 is positive, suggesting a bullish signal.
Past Quarter:
The Best 3 weeks in the past quarter
The past month witnessed the best 2 weeks in the past quarter. In the past quarter the week beginning Monday March 18 saw the highest weekly rise of 2.5% for a relative price increase of 1.4%.
Mon-Fri | Change % | *Index Change % | Vol Ind [1 is avg] |
Mar 18-22 | 2.5 | 1.1 | 0.9 |
Jan 22-26 | 2.4 | 2.5 | 1 |
Apr 08-12 | 1.6 | -1.5 | 1.2 |
*The Bank of New York Mellon Composite ADR Index Change %
SECTION 5 ONGOING BULLISH PARAMETERS
5.1 Rank in the top 24% by Size in the International Depository Receipts market
Description | Value | Rank |
Ave daily Turnover | $167.6 million | In Top 2% |
MCap | $147 billion | In Top 24% |
5.2 Present Value of $1000 Invested in the Past [3 Mo, 1 Yr, 3 Yrs]; The Best Periods with PV$1000 > 1,007
PV$1,000 | 3 mo ago | 1 yr ago | 3 yrs ago |
BHP.N | $1,008 | $1,018 | $1,352 |
Mining sector | $1,028 | $1,005 | $893 |
BNY Mellon Composite ADR Index | $1,056 | $1,106 | $1,026 |
5.3 MCap: 5-Year Increase of $66 B (81%)
In the past 5 years Market Capitalization has increased by $65.7 billion (81%) from $81 billion to $146.7 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 2 out of 5 years.
| Price | MCap ($ B) |
Last | $57.99 | 146.7 |
1 Year ago | $60.10 | 93.1 |
2 Years ago | $67.44 | 114.9 |
3 Years ago | $57.14 | 108.4 |
4 Years ago | $29.64 | 58.8 |
5 Years ago | $38.44 | 81 |
5.4 Buybacks and 5-Years Decrease of 4.9% in Total Shares on Issue
In the past 5 years total shares on issue have decreased by 259 million (4.9%) from 5.3 billion to 5.1 billion. Buybacks have averaged 23.8 million shares [0.4%] per financial year. Based on a dynamic start date of 5 years ago, there have been declines in issued capital in 2 out of 5 years. A reduction in total shares on issue is a favourable indicator in Joseph Piotroski's 9 indicators.
Year End (Jun 30) | Total Shares on Issue | FY | Buybacks | Buyback % |
2023 | 5,064,000,000 | 2023 | - | - |
2022 | 5,061,000,000 | 2022 | - | - |
2021 | 5,057,000,000 | 2021 | - | - |
2020 | 5,057,000,000 | 2020 | - | - |
2019 | 5,180,000,000 | 2019 | 143,000,000 | 2.7% |
2018 | 5,323,000,000 | 2018 | - | - |
Total | | | 143,000,000 | |
Average per FY | | | 23,833,333 | |
5.5 Annualised Period-based Total ADRholder Returns [TSR %]: The Best Periods with TSR > 10.4%
TSR % | 3 yrs | 5 yrs |
BHP.N | 10.5 | 18.3 |
5.6 Low Debt to Equity (%)
The debt to equity ratio of 46.9% is under a safe benchmark figure of 50%. However, it has deteriorated from 34.9% a year ago.
Years | Debt to Equity (%) |
Jun 2023 | 46.87 |
Jun 2022 | 34.87 |
Jun 2021 | 37.97 |
Jun 2020 | 52.27 |
Jun 2019 | 48.15 |
5.7 Increased Volume, up 16% in 5 years
In the past five years, Average Daily Volume of Trading (ADVT) has increased 16.2% to 2.6 million ADRs.
Avg. Daily Volume Traded 12 months ended Apr 18, million ADRs
Year | ADVT |
2024 | 2.6 |
2023 | 3.4 |
2022 | 3.4 |
2021 | 2.2 |
2020 | 2.3 |
5.8 Increased VWAP, up 70% in 5 years
In the past five years Volume Weighted Average Price (VWAP) has increased by 70.0% to $57.39.
Past five years, 12 months ended Apr 18 (USD)
Year | High Price | VWAP | Low Price |
2024 | 67.41 | 57.39 | 51.62 |
2023 | 67.24 | 53.21 | 40.86 |
2022 | 68.74 | 54.15 | 42.82 |
2021 | 61.81 | 44.31 | 27.06 |
2020 | 41.16 | 33.75 | 22.06 |
5.9 Increased ADR turnover, up 91% in 5 years
In the past five years, average daily ADR turnover has increased 91.2% to $147.1 million. This suggests increased liquidity.
Past five years, 12 months ended Apr 18 (USD million)
Year | Average Daily Turnover |
2024 | 147.1 |
2023 | 183.7 |
2022 | 160.6 |
2021 | 99.3 |
2020 | 77.0 |
SECTION 6 TODAY'S BEARISH SIGNALS
6.1 3-DAY: MODERATE MOMENTUM DOWN
BHP dips 1.8% on firm volume 1.2 times average. Compared with the BNY Mellon Composite ADR Index which fell 3.4 points (or 1.9%) in the 3-days, the relative price increase was 0.1%.
The price ranged between a high of $58.41 on Wednesday Apr 17 and a low of $56.96 on Tuesday Apr 16.[Volume Index (VI); 1 is average]
6.2 Rank in the bottom 20% by Price Performance in the International Depository Receipts market
Description | Value | Rank |
Rel Strength 6 mo | 61 | In Bottom 20% |
SECTION 7 ONGOING BEARISH PARAMETERS
7.1 The Worst Periods [3 Mo, 1 Yr] with Price Change % < -1.6
1-Year price change of -3.5% for BHP underperformed the change of 10.7% in the The Bank of New York Mellon Composite ADR Index for a relative price change of -14.2%.
Price Change % | Quarter | Year |
BHP | -1.7 | -3.5 |
Mining sector | 2.9 | 0.5 |
The Bank of New York Mellon Composite ADR Index | 4.5 | 10.7 |
7.2 BHP sees dividend fall for a second consecutive year
BHP reported dividends per share of $3.04 in the past year, down 42.6% from the previous year. This is the second consecutive dividend decrease. In the past 2 years average annual compound growth rate of dividends was -34.1%.
7.3 EPS growth [FY2023 vs FY2022] of -58.2%:
FY | EPS ($) | Growth % |
2023 | 2.55 | -58.2 |
2022 | 6.11 | 172.6 |
7.4 Annualised Period-based Total ADRholder Returns [TSR %]: The Worst Period with TSR < 2%
SECTION 8 CORPORATE PROFILE
8.1 Activities
BHP Group Limited is an international resources company. The Company's principal business lines are mineral exploration and production, including coal, iron ore, gold, titanium, ferroalloys, nickel and copper concentrate, as well as petroleum exploration, production, and refining. It is the International Depository Receipt (IDR) market's largest Mining company by market capitalisation.
8.2 Contact Details
Website | http://www.bhpbilliton.com |
Physical Address | 180 Lonsdale Street Melbourne, VIC 3000 Australia |
Phone | 61-1300-554757 |
Fax | 61-3-96093015 |
8.3 Industry & Sector [of 175 stocks]
Classification Level | Name of Sector |
Business Sector | Mineral Resources |
Industry Group | Metals & Mining |
Economic Sector | Basic Materials |
SECTION 9 FINANCIALS H1/2023, FY 2023
9.1 BHP Financials Summary:
Year ended Jun | FY2023 | FY2022 | FY2021 |
Sales ($ B) | 53.8 | 65.1 | 56.9 |
Pretax ($ B) | 21.4 | 33.1 | 24.3 |
Net ($ B) | 12.9 | 30.9 | 11.3 |
EPS ($) | 2.552 | 6.106 | 2.24 |
EPS down 58.2% to $2.55 in FY2023 [ y.e. 30 Jun 2023]
+ Net profit was down 58.2% from $30.9 billion in FY2022 to $12.9 billion in FY2023.
+ Earnings Per Share (EPS) was down 58.2% from $6.11 in FY2022 to $2.55 in FY2023.
9.2 Half-Yearly Financials
BHP EPS plummets 85.6%
Release Date: February 20, 2024
BHP (ASX:BHP) announced EPS of 18.3c for the half year-ended 31 December 2023, down 85.6% from $1.27 in the previous corresponding period.
Half-Yearly Report (H1 2023)
Compared with the Previous Corresponding Period [PCP; H/31 Dec 2022], year-over-year [y.o.y.] Revenue was up 5.9% and Net Profit was down 85.6%.
Half year-ended | 31 Dec 2023 | 31 Dec 2022 |
EPS, c | 18.3 | 127 |
PCP growth in EPS % | -86 | -23.7 |
Revenue, $ billion | 27.2 | 25.7 |
PCP growth in Revenue % | 5.9 | - |
Net Profit, $ | 927million | 6.5billion |
PCP growth in Net Profit % | -86 | -31.6 |
9.3 Financials, FY 2023 [year-ended 30 June 2023 ]
BHP profits hit by 58% fall
Release Date: August 24, 2023
BHP (ASX:BHP) reported net profit for the year-ended 30 June 2023 [FY2023] of $12.9b, down 58% from $30.9b in the previous year [FY2022]. Earnings per share (EPS) were down 58% from $6.11 in FY2022 to $2.55 in FY2023.
9.4 Annual growth in Revenue, Net Profit and EPS
Year-ended | 30 June [FY/2023] | 30 June [FY/2022] |
Revenue, $ Billion | 53.8 | 65.1 |
Growth in Revenue % | -17.3 | 14.4 |
Net Profit, $ Billion | 12.9 | 30.9 |
Growth in Net Profit % | -58.2 | 173.4 |
EPS, $ | 2.55 | 6.11 |
Growth in EPS % | -58.2 | 172.6 |
Major changes compared with previous year (FY2023 vs FY2022):
Favourable Changes:
- Interest revenue to Sales up from 0.1% to 1%
- Total non-current assets to Total Assets up from 69.9% to 76.9%
- Fixed Assets to Total Assets up from 64.4% to 70.9%
- Total Liabilities to EBITDA of 2.2 compares favourably with the Joseph Piotroski benchmark of <5. However, it has deteriorated by 65.4% from the previous year's ratio of 1.4.
- Total Liabilities to Operating Cash Flow of 2.8 compares favourably with the Joseph Piotroski benchmark of <4. However, it has deteriorated by 95.8% from the previous year's ratio of 1.4.
Unfavourable Changes:
- Net profit slumps 58.2% from $30.9b to $12.9b
- Sales revenue down 17.3% from $65.1b to $53.8b
- EBIT Margin down from 52.5% to 43.6%
- Interest cover down 65% from 32.6 to 11.4
- EBIT to total assets down from 35.9% to 23.2%
Year-on-year comparison of Performance Ratios [FY2023 vs FY2022]
June 30 | FY2023 | FY2022 | Change (%) |
Return on Equity (%) | 29.5 | 45.9 | Down 35.7 |
Return on Assets (%) | 14.1 | 23.5 | Down 40 |
Total debt to net tangible assets (%) | 48.5 | 35.9 | Up 35.1 |
Debt/Equity | 0.5 | 0.3 | Up 34.3 |
Interest Cover | 11.4 | 32.6 | Down 65 |
Common Size Ratios by Assets % | | | |
Current Debtors to Total Assets | 4.5 | 5.7 | Down 21.1 |
Long-term investments to Total Assets | 2.7 | 2.3 | Up 15.6 |
Non-current inventory to Total Assets | 1.4 | 1.4 | Up 1.3 |
Common Size Ratios by Sales % | | | |
Interest revenue to Sales | 1.0 | 0.1 | Up 703.7 |
Five-year record of growth and performance:
In the last 5 years Total Revenue averaged $52.6B, EBITDA averaged $22.9B and Net Profit averaged $13.7B. Compound Annual Growth Rate (CAGR) averaged 4.5% for Total Revenue, 28.4% for Net Profit and 7.5% for EBITDA.
Description | Annual ($ B) | 5-year Avg ($ B) | 5-year CAGR % |
Total Revenue | 53.8 | 52.6 | 4.5 |
EBITDA | 23.5 | 22.9 | 7.5 |
Operating Profit | 23.5 | 22.9 | 7.5 |
Net Profit | 12.9 | 13.7 | 28.4 |
Five-year record of EBITDA, Operating Profit, Net Profit, ROE, ROA and ROCE
In 2023 Net Profit Margin of 26.6% was above its 5-year Avg of 25.4% (All Figures in %)
Description | 2023 | 5-year Avg |
EBITDA Margin | 43.6 | 42.6 |
Operating Profit Margin | 43.6 | 42.6 |
Net Profit Margin | 26.6 | 25.4 |
Return on Equity | 29.5 | 27 |
Return on Assets | 14.1 | 13.6 |
Return on Capital Employed | 28.5 | 27 |
SECTION 10 TOP MANAGEMENT AND BOARD OF DIRECTORS
10.1 Top Management
Top Management [One top executive with tenure > 7 yrs]
Name | Designation | Since Appointment |
Ken MacKenzie | Chairman, Director | 7 Yrs, 7 Mos |
Top Management [Eight top executives with tenure < 5 yrs]
Name | Designation | Since Appointment |
Mike Henry | Chief Executive Officer | 4 Yrs, 3 Mos |
Geraldine Slattery | President | 1 Yr, 6 Mos |
Edgar Basto | Executive Director, Chief Operating Officer | 1 Yr, 6 Mos |
Stefanie Wikinson | Company Secretary | 3 Yrs, 1 Mo |
Vandita Pant | Chief Commercial Officer | 4 Yrs, 9 Mos |
Rag Udd | Chief Commercial Officer | 4 Mos |
Laura Tyler | Chief Technical Officer | - |
Johan van Jaarsveld | Chief Development Officer | - |
10.2 Board Of Directors
Board Of Directors [One director with tenure > 5 yrs]
Name | Since Appointment |
Ian Cockerill | 5 Yrs |
Board Of Directors [Six directors with tenure < 5 yrs]
Name | Designation | Since Appointment |
Gary Goldberg | Director | 4 Yrs, 2 Mos |
Dion Weisler | Independent Non-Executive Director | 3 Yrs, 10 Mos |
Michelle Hinchliffe | Independent Non-Executive Director | 2 Yrs, 1 Mo |
Catherine Tanna | Independent Non-Executive Director | 2 Yrs |
Christine O'Reilly | Director | - |
Xiaoqun Clever | Independent Non-Executive Director | - |
10.3 Resignations in the Past Year
Name | Designation | Date of Resignation |
David Lamont | Chief Financial Officer,Chief Financial Officer | 07 December 2023 |
Terry Bowen | Director,Director | 01 November 2023 |
Prakash Kakkad | Company Secretary,Company Secretary | 20 September 2023 |
Malcolm Broomhead | Director | 10 November 2022 |
John Mogford | Director | 31 October 2022 |
10.4 Profiles of Top Management
Mike Henry
CEO
Mike was appointed as a Director of BHP Group Limited and BHP Group Plc in January 2020. He was appointed Chief Executive Officer on 1 January 2020.
Skills and experience:
Mike has over 30 years' experience in the global mining and petroleum industry, spanning operational, commercial, safety, technology and marketing roles. He joined BHP in 2003, initially in business development and then in marketing and trading of a range of mineral and petroleum commodities based in The Hague, where he was also accountable for BHP's ocean freight operations. He went on to hold various positions in the Company, including President Coal, President HSE, Marketing and Technology, and Chief Marketing Officer. Mike was appointed Chief Executive Officer on 1 January 2020 and has been a member of the Executive Leadership Team since 2011. Prior to joining BHP, Mike worked in the resources industry in Canada, Japan and Australia.
Shareholder Value:
Creation of shareholder value in BHP:
Since appointment as CEO: The present value of $1,000 invested on the appointment date of January 01, 2020 at close price of $39.37 is $2,134, including a capital gain of $473 and dividend reinvested of $661.
Ken MacKenzie
Chairman
Ken has been a Director of BHP Billiton Limited and BHP Billiton Plc since September 2016. He was appointed Chairman with effect from 1 September 2017.
Skills and experience:
Ken has extensive global and executive experience, and a deeply strategic approach. From 2005 until 2015, he served as the Managing Director and Chief Executive Officer of Amcor Limited, a global packaging company with operations in over 40 countries. During his 23 year career with Amcor, Ken gained extensive experience across all of Amcor's major business segments in developed and emerging markets in the Americas, Australia, Asia and Europe.
Other directorships and offices (current and recent):
Former Managing Director and Chief Executive Officer of Amcor Limited (from July 2005 to April 2015).
Advisory Board member of American Securities Capital Partners LLC (since January 2016).
Advisory Board member of Adamantem Capital (since September 2016).
Former Senior Adviser to McKinsey & Company (from January 2016 to June 2017).
Board Committee memberships:
Chairman of the Nomination and Governance Committee.
Member of the Sustainability Committee.
Shareholder Value:
Creation of shareholder value in BHP:
Since appointment as Chairman: The present value of $1,000 invested on the appointment date of September 01, 2017 at close price of $26.95 is $3,945, including a capital gain of $1,152 and dividend reinvested of $1,793.
Vandita Pant
Chief Commercial Officer
Experience:
Vandita was appointed Chief Commercial Officer in July 2019, with global accountabilities for Marketing, Supply and Maritime and for developing the Company's view on global commodities markets. She is the most senior Asian female in the BHP Group globally. Vandita joined BHP in 2016 as Group Treasurer and Head of Europe, responsible for BHP's structural financial risk, liquidity investment portfolio, commodity price risk, credit risk, corporate finance, capital management related functions and involved in all strategic transactions with a balance-sheet impact.
She has over 25 years of international experience having worked in a variety of executive roles in India, Singapore, Japan and, for the last 13 years, in London. Prior to this, she was with the Royal Bank of Scotland where she undertook various challenging mandates as Business Treasurer, Group Head of Capital Management and Markets, and, following the 2008 Global Financial Crisis, setting up Global Balance Sheet & Liquidity Management. She spent 11 years with ABN AMRO Bank and 3 years with BNP Paribas in a variety of roles in Strategy & Corporate Finance, Business Development, Commodity Finance and Risk Management.
She holds a Bachelor of Commerce (Hons) degree from Delhi University and an MBA from the Indian Institute of Management (IIM) in Finance and Marketing.
Shareholder Value:
Creation of shareholder value in BHP:
Month of appointment: July 2019
In the last 5 years the average annualized return to shareholders was 18.3%. The present value of $1,000 (PV1000) invested 5 years ago is now $2,321, a gain of $509 and dividend reinvested of $812.
10.5 Profiles of Board of Directors
Gary Goldberg
Director
Gary has been a Director of BHP Group Limited and BHP Group Plc since February 2020.
Skills and experience:
Mr Goldberg has more than 35 years' of global experience in the mining industry, including in executive, operational and strategic roles.
In his most recent role, Gary Goldberg served as Chief Executive Officer of Newmont Goldcorp Corporation, which is one of the world's largest gold producers. Prior to joining Newmont in 2011, Mr Goldberg spent 30 years at Rio Tinto where he held senior executive roles, most recently as President and Chief Executive Officer of Rio Tinto Minerals Inc., and in leadership roles in Rio Tinto's coal, gold, copper and industrial minerals businesses.
Other directorships and offices (current and recent):
Advisor, Newmont Goldcorp Corporation (from October 2019 to March 2020).
Former President and Chief Executive Officer of Newmont Mining Corporation (from 2013 to 2019), and Chief Executive of the merged Newmont Goldcorp Corporation (April 2019 - September 2019).
Former Director (from 2013 to 2019) and Treasurer (from 2017 to 2019) of the International Council on Mining and Metals.
Former Vice Chair of the World Gold Council (from 2017 to 2019).
Former Co-Chair of the World Economic Forum for Mining and Metals Governors (from 2016 to 2017).
Former President and Chief Executive Officer of Rio Tinto Minerals Inc. (from 2006 to 2011).
Former Chairman of the US National Mining Association (from 2008 to 2010).
Former President and Chief Executive Officer of U.S. Borax Inc. (from 2004 to 2006).
Former Managing Director of Coal & Allied Industries Ltd. (from 2001 to 2004).
Former President and Chief Executive Officer of Kennecott Energy Corp. (from 1999 to 2001).
Board Committee membership:
Member of the Remuneration Committee
Member of the Sustainability Committee
Shareholder Value:
Creation of shareholder value in BHP:
Month of appointment: February 2020
In the last 3 years the average annualized return to shareholders was 10.5%. The present value of $1,000 (PV1000) invested 3 years ago is now $1,352, a gain of $15 and dividend reinvested of $337.
Ian Cockerill
Independent Non-Executive Director
Ian has been a Director of BHP Group Limited and BHP Group Plc since 1 April 2019.
Skills and experience:
Ian has extensive global mining operational, project and executive experience having initially trained as a geologist. He was formerly the Chief Executive Officer of Anglo American Coal and Chief Executive Officer and President of Gold Fields Limited, and a senior executive with AngloGold Ashanti and Anglo American Group. Ian is the Chairman of Polymetal International plc.
Ian is the former Chairman of BlackRock World Mining Trust plc and the former Lead Independent Director of Ivanhoe Mines Ltd and former Director of Orica Limited and Endeavour Mining Corporation. Ian is also the former Chairman of the Leadership for Conservation in Africa, a not-for-profit organisation, and is the Chairman of Conservation 360, a Botswanan conservation NGO dealing with anti-poaching initiatives. He is a former Director of Business Leadership South Africa, the South African Business Trust and the World Gold Council.
Other directorships and offices (current and recent):
Chairman of Polymetal International plc (since 2019).
Former Director of Orica Limited (from 2010 to 2019).
Former Director (from 2013 to 2019) and Chairman (from 2016 to 2019) of BlackRock World Mining Trust plc.
Former Director (from 2011 to 2019) and Lead Independent Director (from 2012 to 2019) of Ivanhoe Mines Ltd.
Former Director of Endeavour Mining Corporation (from 2013 to 2019).
Former Executive Director and executive Chairman (from 2010 to 2013) and Non-executive Chairman (from 2013 to 2017) of Petmin Limited.
Former Chairman of Hummingbird Resources plc (from 2009 to 2014). Board Committee memberships:
Member of the Risk and Audit Committee.
Member of the Sustainability Committee.
Shareholder Value:
Creation of shareholder value in BHP:
Since appointment as Independent Non-Executive Director: The present value of $1,000 invested on the appointment date of April 01, 2019 at close price of $39.05 is $2,243, including a capital gain of $485 and dividend reinvested of $758.
SECTION 11 FINANCIALS AS REPORTED FY 2023
11.1 Financials as reported (FY 2023 [year-ended 30 June 2023 ])
RESULTS OF OPERATIONS AND FINANCIAL CONDITION
(In $ Million, except per share data and shares outstanding)
INCOME STATEMENT AS REPORTED (FY 2023 [year-ended 30 June 2023 ])
Description | $ Million | $ Million | |
Jun 30 | 2023 | 2022 | Change % |
Continuing operations | | | |
Revenue | 53,817 | 65,098 | Down 17.3 |
Other income | 394 | 1,398 | Down 71.8 |
Expenses excluding net finance costs | -31,873 | -32,371 | Improved 1.5 |
Profit/(loss) from equity accounted investments related impairments and expenses | 594 | -19 | Recovery |
Profit from operations | 22,932 | 34,106 | Down 32.8 |
Financial expenses | -2,060 | -1,050 | Deterioration 96.2 |
Financial income | 529 | 81 | Up 553.1 |
Net finance costs | -1,531 | -969 | Deterioration 58.0 |
Profit before taxation | 21,401 | 33,137 | Down 35.4 |
Income tax expense | -6,691 | -10,430 | Improved 35.8 |
Royalty-related taxation (net of income tax benefit) | -386 | -307 | Deterioration 25.7 |
Total taxation expense | -7,077 | -10,737 | Improved 34.1 |
Profit after taxation from Continuing operations | 14,324 | 22,400 | Down 36.1 |
Discontinued operations | | | |
Profit/(loss) after taxation from Discontinued operations | | 10,655 | |
Profit after taxation from Continuing and Discontinued operations | 14,324 | 33,055 | Down 56.7 |
Attributable to non-controlling interests | 1,403 | 2,155 | Down 34.9 |
Attributable to BHP shareholders | 12,921 | 30,900 | Down 58.2 |
Basic earnings per ordinary share (cents) | $2.55 | $6.11 | Down 58.3 |
Diluted earnings per ordinary share (cents) | $2.55 | $6.09 | Down 58.1 |
Basic earnings from Continuing operations per ordinary share (cents) | $2.55 | $4.0 | Down 36.3 |
Diluted earnings from Continuing operations per ordinary share (cents) | $2.55 | $3.99 | Down 36.1 |
Weighted average number of ordinary share Basic | 11,000,000 | 11,000,000 | Steady |
Weighted average number of ordinary share Diluted | 11,000,000 | 11,000,000 | Steady |
BALANCE SHEET AS REPORTED (FY 2023 [year-ended 30 June 2023 ])
Description | $ Million | $ Million | |
Jun 30 | 2023 | 2022 | Change % |
ASSETS | | | |
Current assets | | | |
Cash and cash equivalents | 12,428 | 17,236 | Down 27.9 |
Trade and other receivables | 4,594 | 5,426 | Down 15.3 |
Other financial assets | 470 | 629 | Down 25.3 |
Inventories | 5,220 | 4,935 | Up 5.8 |
Current tax assets | 508 | 263 | Up 93.2 |
Other | 131 | 175 | Down 25.1 |
Total current assets | 23,351 | 28,664 | Down 18.5 |
Non-current assets | | | |
Trade and other receivables | 148 | 153 | Down 3.3 |
Other financial assets | 1,115 | 802 | Up 39.0 |
Inventories | 1,403 | 1,315 | Up 6.7 |
Property plant and equipment | 71,818 | 61,295 | Up 17.2 |
Intangible assets | 1,610 | 1,369 | Up 17.6 |
Investments accounted for using the equity method | 1,620 | 1,420 | Up 14.1 |
Deferred tax assets | 56 | 56 | Steady |
Other | 175 | 92 | Up 90.2 |
Total non-current assets | 77,945 | 66,502 | Up 17.2 |
Total assets | 101,296 | 95,166 | Up 6.4 |
LIABILITIES | | | |
Current liabilities | | | |
Trade and other payables | 6,296 | 6,687 | Down 5.8 |
Interest bearing liabilities | 7,173 | 2,622 | Up 173.6 |
Other financial liabilities | 402 | 579 | Down 30.6 |
Current tax payable | 611 | 3,032 | Down 79.8 |
Provisions | 4,514 | 3,965 | Up 13.8 |
Deferred income | 47 | 34 | Up 38.2 |
Total current liabilities | 19,043 | 16,919 | Up 12.6 |
Non-current liabilities | | | |
Trade and other payables | 4 | | |
Interest bearing liabilities | 15,172 | 13,806 | Up 9.9 |
Other financial liabilities | 2,157 | 1,997 | Up 8.0 |
Non-current tax payable | 68 | 87 | Down 21.8 |
Deferred tax liabilities | 4,299 | 3,063 | Up 40.4 |
Provisions | 11,973 | 10,478 | Up 14.3 |
Deferred income | 50 | 50 | Steady |
Total non-current liabilities | 33,723 | 29,481 | Up 14.4 |
Total liabilities | 52,766 | 46,400 | Up 13.7 |
Net assets | 48,530 | 48,766 | Down 0.5 |
EQUITY | | | |
Share capital | 4,737 | 4,638 | Up 2.1 |
Treasury shares | -41 | -31 | Deterioration 32.3 |
Reserves | 13 | 12 | Up 8.3 |
Retained earnings | 39,787 | 40,338 | Down 1.4 |
Total equity attributable to BHP shareholders | 44,496 | 44,957 | Down 1.0 |
Non-controlling interests | 4,034 | 3,809 | Up 5.9 |
Total equity | 48,530 | 48,766 | Down 0.5 |
CASH FLOW AS REPORTED (FY 2023 [year-ended 30 June 2023 ])
Description | $ Million | $ Million | |
Jun 30 | 2023 | 2022 | Change % |
Operating activities | | | |
Profit before taxation from Continuing operations | 21,401 | 33,137 | Down 35.4 |
Adjustments for: | | | |
Depreciation and amortisation expense | 5,061 | 5,683 | Down 10.9 |
Impairments of property plant and equipment financial assets and intangibles | 75 | 515 | Down 85.4 |
Net finance costs | 1,531 | 969 | Up 58.0 |
(Profit)/loss from equity accounted investments related impairments and expenses | -594 | 19 | Deterioration |
Other | 546 | -350 | Recovery |
Changes in assets and liabilities: | | | |
Trade and other receivables | 867 | -703 | Recovery |
Inventories | -44 | -865 | Improved 94.9 |
Trade and other payables | -1,086 | 727 | Deterioration |
Provisions and other assets and liabilities | 131 | -248 | Recovery |
Cash generated from operations | 27,888 | 38,884 | Down 28.3 |
Dividends received | 347 | 1,018 | Down 65.9 |
Interest received | 545 | 58 | Up 839.7 |
Interest paid | -1,090 | -657 | Deterioration 65.9 |
Proceeds/(settlements) of cash management related instruments | 331 | 378 | Down 12.4 |
Net income tax and royalty-related taxation refunded | 232 | 105 | Up 121.0 |
Net income tax and royalty-related taxation paid | -9,552 | -10,501 | Improved 9.0 |
Net operating cash flows from Continuing operations | 18,701 | 29,285 | Down 36.1 |
Net operating cash flows from Discontinued operations | | 2,889 | |
Net operating cash flows | 18,701 | 32,174 | Down 41.9 |
Investing activities | | | |
Purchases of property plant and equipment | -6,733 | -5,855 | Deterioration 15.0 |
Exploration and evaluation expenditure | -350 | -256 | Deterioration 36.7 |
Exploration and evaluation expenditure expensed and included in operating cash flows | 294 | 199 | Up 47.7 |
Investment in subsidiaries operations and joint operations net of cash | -5,868 | | |
Net investment and funding of equity accounted investments | -557 | -266 | Deterioration 109.4 |
Proceeds from sale of assets | 444 | 221 | Up 100.9 |
Proceeds/(settlements) from sale of subsidiaries operations and joint operations net of their cash | 82 | 1,255 | Down 93.5 |
Other investing | -377 | -271 | Deterioration 39.1 |
Net investing cash flows from Continuing operations | -13,065 | -4,973 | Deterioration 162.7 |
Net investing cash flows from Discontinued operations | | -904 | |
Net cash completion payment on merger of Petroleum with Woodside | | -683 | |
Cash and cash equivalents disposed on merger of Petroleum with Woodside | | -399 | |
Net investing cash flows | -13,065 | -6,959 | Deterioration 87.7 |
Financing activities | | | |
Proceeds from interest bearing liabilities | 8,182 | 1,164 | Up 602.9 |
(Settlements)/proceeds of debt related instruments | -677 | | |
Repayment of interest bearing liabilities | -3,289 | -3,358 | Improved 2.1 |
Purchase of shares by Employee Share Ownership Plan (ESOP) Trusts | -88 | -149 | Improved 40.9 |
Dividends paid | -13,268 | -17,851 | Improved 25.7 |
Dividends paid to non-controlling interests | -1,175 | -2,540 | Improved 53.7 |
Net financing cash flows from Continuing operations | -10,315 | -22,734 | Improved 54.6 |
Net financing cash flows from Discontinued operations | | -33 | |
Net financing cash flows | -10,315 | -22,767 | Improved 54.7 |
Net (decrease)/increase in cash and cash equivalents from Continuing operations | -4,679 | 1,578 | Deterioration |
Net increase/(decrease) in cash and cash equivalents from Discontinued operations | | 1,952 | |
Net cash completion payment on merger of Petroleum with Woodside | | -683 | |
Cash and cash equivalents disposed on merger of Petroleum with Woodside | | -399 | |
Cash and cash equivalents net of overdrafts at the beginning of the financial year | 17,236 | 15,246 | Up 13.1 |
Foreign currency exchange rate changes on cash and cash equivalents | -134 | -458 | Improved 70.7 |
Cash and cash equivalents net of overdrafts at the end of the financial year | 12,423 | 17,236 | Down 27.9 |
ADR IDENTIFIERS
ISIN: US0886061086
CUSIP: 088606108
RIC: BHP.N
LEI: WZE1WSENV6JSZFK0JC28
GLOSSARY
ADVT: Average Daily Volume of shares Traded
Capital Gain/Loss from n Years Ago to n-1 Years Ago: Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)
Debt/Equity: Net Debt/Net Assets %
Dividend Yield: Dividend Per Share/Share Price (%)
EBIT Margin : Earnings Before Interest and Tax/Revenue (%)
Interest Cover: Earnings Before Interest and Tax/Interest (times)
PCP: Previous Corresponding Period
PV1000: Present value of 1000 invested 1 year/'n' years ago
Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index
Return on Assets: Net Profit/Total Assets (%)
Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)
TTM: Trailing 12 Months
Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period
Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.
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