Zacks Investment Research upgraded shares of BHP Billiton (NYSE:BHP) from a hold rating to a buy rating in a research note issued to investors on Tuesday, January 9th. They currently have $54.00 price target on the mining company’s stock.
According to Zacks, “Over the last six months, BHP Billiton’s shares have outperformed the industry. Improving iron ore prices is expected to benefit BHP Billiton’s near-term results. The company reported robust copper productivity in first-quarter fiscal 2018. Moreover, iron ore output guidance for fiscal 2018 is reaffirmed, estimating a year over year upside of 3-5%. Moreover, BHP Billiton reported robust results in fiscal 2017. The company is also poised to grow on increased productivity and more efficient operations. Over the last 60 days, Zacks Consensus Estimate for the stock moved north for fiscal 2018.”
Other equities research analysts have also recently issued reports about the company. ValuEngine cut BHP Billiton from a buy rating to a hold rating in a report on Friday, September 22nd. JPMorgan Chase & Co. raised BHP Billiton from an underweight rating to a neutral rating in a research note on Thursday, December 14th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $38.97.
BHP Billiton (NYSE:BHP) opened at $49.02 on Tuesday. BHP Billiton has a 52-week low of $33.37 and a 52-week high of $50.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.53. The company has a market capitalization of $125,790.00, a PE ratio of 22.18, a PEG ratio of 3.06 and a beta of 1.14.
Hedge funds have recently modified their holdings of the company. LMR Partners LLP acquired a new stake in BHP Billiton during the 4th quarter worth about $24,392,000. JPMorgan Chase & Co. boosted its stake in shares of BHP Billiton by 170.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 598,805 shares of the mining company’s stock worth $24,245,000 after acquiring an additional 377,242 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of BHP Billiton by 34.7% during the 3rd quarter. Jennison Associates LLC now owns 911,838 shares of the mining company’s stock worth $36,957,000 after acquiring an additional 235,101 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of BHP Billiton by 12.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,329,420 shares of the mining company’s stock worth $53,881,000 after acquiring an additional 146,127 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of BHP Billiton by 6,136.1% during the 2nd quarter. Quantbot Technologies LP now owns 144,803 shares of the mining company’s stock worth $5,153,000 after acquiring an additional 142,481 shares in the last quarter. 3.26% of the stock is currently owned by institutional investors and hedge funds.
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BHP Billiton Company Profile
BHP Billiton Limited is a global resources company. The Company is a producer of various commodities, including iron ore, metallurgical coal, copper and uranium. Its segments include Petroleum, Copper, Iron Ore and Coal. The Petroleum segment is engaged in the exploration, development and production of oil and gas.
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