Tesla strikes nickel supply deal with miner BHP

  • BHP says it signed an agreement to supply Tesla (NASDAQ:TSLA) with nickel, a key metal used to make electric vehicle batteries, from its Nickel West operations in Western Australia.
  • BHP says the companies also will work together to make the battery supply chain more sustainable, but financial details are not disclosed.
  • Telsa's Elon Musk previously has expressed concern about future supplies of nickel (LN1:COM) due to challenges in sustainable sourcing.
  • For BHP, the deal marks a turnaround for its Nickel West business, which the company tried to sell as recently as 2019 and has pivoted it to serve battery makers rather than traditional industry customers.
  • BHP reported slight Y/Y declines in production of iron ore, copper and nickel during its June quarter.

    For this year the company, located in Palo Alto revenue will be around 49.8 billion USD. This is according to the average of the analysts' estimates. This is hugely more than 2021's revenue of 31.54 billion USD.

    Historical revenues and results Tesla plus estimates 2021

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    The analysts expect for 2021 a net profit of 5.65 billion USD. For this year the consensus of Tesla 's result per share is a profit of 5.24 USD. So the price/earnings-ratio equals an extreme 136.38.

    Analysts don't expect the company to pay a dividend. The average dividend yield of the automobile producers is an attractive 2.83 percent.

    Latest estimates around 597 USD

    The most recent recommendations for the automobile producer are from Nord Landesbank, Credit Suisse and Jefferies & Co..

    Tesla 's market capitalization is around 646.74 billion USD. 140

    Historical stock prices Tesla past 10 years

    financial analysis teslamotors

    On Thursday the stock closed at 714.63 USD.

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