Business
The BHP (ASX:BHP) share price is Goldman Sach’s top pick for iron ore
What a year 2020 was for iron ore. The steel-making metal soared to a 7-year high while ASX iron ore miners delivered market leading returns on improved profitability and record dividends.
The Goldman Sachs commodities team is bullish on commodities and iron ore in 2021. Its 2021 sector outlook and themes report released on Wednesday points to recovering global demand, low inventories and supply constraints and a weakening US dollar to support commodity prices.
In this report, the BHP Group Ltd (ASX: BHP) share price has emerged as the broker’s top iron ore pick.
Bullish but valuations are fair
Despite the bullish sentiment for commodities and iron ore, Goldman views the sector as ‘fairly valued based on a discounted cash…
-
Noosa News21 hours agoLoved ones say goodbye to allegedly murdered Bundaberg teen Pheobe Bishop
-
General17 hours agoHome prices reach fresh record highs as rate cuts expected to fuel growth
-
Noosa News21 hours agoStar Casino walks from Queen’s Wharf sale in Brisbane after $300M Bally’s lifeline
-
Noosa News11 hours ago2025’s Melbourne International Film Festival Is Opening with the Rose Byrne-Starring ‘If I Had Legs I’d Kick You’