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BHP and CSL Ltd: 2 ASX shares to dig into

The BHP Group Ltd (ASX:BHP) share price is down 19.2% since the start of the 2024. It's probably worth asking, 'is the BHP share price cheap?'
The BHP Group Ltd (ASX:BHP) share price is down 19.2% since the start of the 2024. The CSL Ltd (ASX:CSL) share price is tracking 2% off its 52-week lows.

BHP share price in focus

BHP Group (formerly BHP Billiton) is a diversified natural resources company producing commodities that was founded in 1885.

BHP’s principal business lines are mineral exploration and production. BHP’s assets, operations and interests are separated into three focus areas: Copper and related minerals (e.g. gold, uranium, silver, zinc, etc.), Iron Ore, and Coal (i.e. metallurgical and energy).

BHP shares are often seen as a reliable dividend paying investment and is a common constituent of an ASX share portfolio. If you own an popular ETF or LIC, or invest with Industry Super, chances are you have exposure.

CSL shares

CSL is a global biotechnology company that develops and delivers innovative medicines that save lives, protect public health and help people with life-threatening medical conditions live full lives.

The company is divided into three main business units: CSL Behring, CSL Seqirus and CSL Vifor. Behring, acquired in 2004, manufactures and distributes blood plasma products. Seqirus was formed by a rebranding of BioCSL and the acquired Novartis flu business (bought in 2015) makes flu-related products and performs pandemic-related services for Governments. Finally, Vifor makes products for iron deficiency and nephrology (renal/kidney care).

Share price valuation

One way to have a ‘quick read’ of where the BHP share price is, is to study something like dividend yield thru time. Remember, the dividend yield is effectively the ‘cash flow’ to a share holder, but it can be influenced by yearly or bi-yearly fluctuations. Currently, BHP Group Ltd shares have a dividend yield of around 6.39%, which compares to its 5-year average of 9.38%. Put simply, BHP shares are trading below their historical average dividend yield.

Since it is a more mature-style business, the CSL share price is offering a historical dividend yield of around 1.17%, which compares to its 5-year average of 1.24%. The Rask websites, especially our Rask Education platform, offer free tutorials explaining Discounted Cash Flow (DCF) and Dividend Discount Models (DDM). Both of these models would be a better way to value the CSL share price.

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5%+ in passive income

Owen Rask’s investing report available

With bond ETFs like ASX:IAF and the S&P 500 riding high, now could be one of the best times to start earning passive income from a portfolio of shares and ETFs.

In this free analyst report, our Chief Investment Officer, Owen Rask, names 10 ASX stocks and ETFs to watch.

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