BHP Billiton (NYSE:BHP) was upgraded by Goldman Sachs from a “neutral” rating to a “buy” rating in a research report issued on Sunday, Marketbeat Ratings reports. The firm presently has a $46.80 target price on the mining company’s stock, down from their previous target price of $46.90. Goldman Sachs’ price target suggests a potential upside of 1.12% from the company’s current price.
Several other research firms have also recently commented on BHP. Sanford C. Bernstein cut shares of BHP Billiton from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $49.55 to $47.00 in a report on Monday, January 22nd. Cowen boosted their price target on shares of BHP Billiton from $45.00 to $52.00 and gave the company a “market perform” rating in a report on Wednesday, January 10th. Zacks Investment Research upgraded shares of BHP Billiton from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Tuesday, January 9th. ValuEngine upgraded shares of BHP Billiton from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Finally, Deutsche Bank cut shares of BHP Billiton from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $40.20.
BHP Billiton stock opened at $46.28 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.40 and a current ratio of 1.75. BHP Billiton has a 12 month low of $33.37 and a 12 month high of $50.79. The firm has a market cap of $75,137.40, a PE ratio of 18.29, a P/E/G ratio of 2.66 and a beta of 1.22.
Large investors have recently modified their holdings of the stock. Segantii Capital Management Ltd bought a new stake in BHP Billiton in the fourth quarter worth $147,421,000. Jane Street Group LLC boosted its holdings in BHP Billiton by 1,420.1% in the fourth quarter. Jane Street Group LLC now owns 85,871 shares of the mining company’s stock worth $3,949,000 after purchasing an additional 92,376 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in BHP Billiton by 934.2% in the third quarter. Chicago Partners Investment Group LLC now owns 6,319 shares of the mining company’s stock worth $256,000 after purchasing an additional 5,708 shares in the last quarter. Eagle Asset Management Inc. lifted its position in BHP Billiton by 39.3% during the 4th quarter. Eagle Asset Management Inc. now owns 13,999 shares of the mining company’s stock worth $658,000 after acquiring an additional 3,952 shares during the last quarter. Finally, South Street Advisors LLC lifted its position in BHP Billiton by 1.2% during the 4th quarter. South Street Advisors LLC now owns 196,680 shares of the mining company’s stock worth $9,045,000 after acquiring an additional 2,340 shares during the last quarter. Hedge funds and other institutional investors own 3.21% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was illegally copied and republished in violation of United States & international copyright and trademark law. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2018/04/17/goldman-sachs-upgrades-bhp-billiton-bhp-to-buy.html.
About BHP Billiton
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.
Receive News & Ratings for BHP Billiton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BHP Billiton and related companies with MarketBeat.com's FREE daily email newsletter.