The big miners ahead of reporting season

Morgans Financial Limited

Morgans Financial Limited

The big miners ahead of reporting season. We think BHP is oversold, even when using downgraded commodity prices. We think stabilisation in the USD will be an important step in stabilising key commodities and Australian mining equities in early 2105. However, given the commodities outlook is fairly tepid, we think a recovery in BHP's price will be a slow grind rather than a bounce. Ahead of the key reporting season for the big miners in February we are happy to accumulate BHP on the premise of a medium term recovery in commodities demand and banking the +5% yield second. More detail on the Morgans Blog. (VIEW LINK)


Morgans Financial Limited
Stockbroker
Morgans Financial Limited

Morgans is Australia's largest national full-service retail stockbroking and wealth management network with over 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices in all states and territories.

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