The BHP Group Ltd (ASX: BHP) share price is an ASX staple.
To many, it may be the epitome of an Australian share. Focused on iron ore and, until recently, gas and oil production, the blue chip has been a core stock on the S&P/ASX 200 Index (ASX: XJO) for years.
BHP's stock finished yesterday's session trading at $46.61. But when was the best time to buy into the resource company?
Let's take a look at the highs and lows of the BHP share price.
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The BHP share price's best, and worst, days on the ASX
Highest highs
On 4 August 2021, the BHP share price hit its highest closing price ever when the company's shares finished the day at $54.06.
That day, the price of iron ore was lifting for the first time after a considerable slide. Additionally, as The Motley Fool reported at the time, some brokers had touted BHP's interest in offloading its oil and gas assets as a good omen.
Prior to the last 12 months, the BHP share price's highest close occurred on 3 July 2019 and it was – you guessed it – spurred by rallying iron ore prices.
Believe it or not, back then we reported the price of iron ore had hit a multiyear high of US$120 a tonne.
Since then, demand for the steel-making ingredient has surged and is still trading well above 'normal' levels. Right now, a buyer can get their hands on a tonne of iron ore for US$158.58.
Lowest lows
The lowest close the BHP share price has experienced in the last 10 years saw it finishing the day at $14.21.
That was on 20 January 2016, following the release of BHP's half-year operational report.
In the report, BHP noted its production of coal, oil, and copper had each dropped. It also downgraded its full-year iron ore production. Not to mention, it had struggled against weak oil prices through the first half of 2016.
The fateful report saw the BHP share price hit a 10-year low, which has turned out to be its lowest point since.
BHP's lowest close in recent times occurred in the midst of the COVID-19-induced recession. On 16 March 2020, the ASX 200 Index crashed 6% on open. As we reported at the time, many blue chip stocks were hit hard, and BHP didn't escape the carnage.
The BHP share price finished that day at $25.20.
The miner's shares have since made up ground to the current price of $46.61.
