BHP Billiton (BBL) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of BHP Billiton (NYSE:BBL) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. The firm currently has $50.00 target price on the mining company’s stock.

According to Zacks, “BHP Billiton Plc is engaged in production of minerals which includes iron ore, metallurgical coal, copper and uranium as well as oil, gas and energy coal. BHP Billiton Plc is based in Collins Street, Melbourne Victoria. “

BBL has been the subject of a number of other research reports. Bank of America cut shares of BHP Billiton from a buy rating to a neutral rating in a research note on Tuesday, June 5th. Citigroup upgraded shares of BHP Billiton from a neutral rating to a buy rating in a research note on Friday, April 20th. Goldman Sachs Group upgraded shares of BHP Billiton from a neutral rating to a buy rating in a research note on Monday, April 23rd. ValuEngine cut shares of BHP Billiton from a buy rating to a hold rating in a research note on Friday, June 1st. Finally, Deutsche Bank cut shares of BHP Billiton from a buy rating to a hold rating in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $44.00.

Shares of BHP Billiton opened at $43.39 on Tuesday, MarketBeat.com reports. BHP Billiton has a 52-week low of $28.73 and a 52-week high of $47.92. The firm has a market capitalization of $47.03 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 2.48 and a beta of 1.23. The company has a quick ratio of 1.40, a current ratio of 1.75 and a debt-to-equity ratio of 0.41.

Institutional investors have recently made changes to their positions in the stock. SevenBridge Financial Group LLC acquired a new stake in shares of BHP Billiton during the 4th quarter worth about $105,000. Icon Wealth Partners LLC acquired a new stake in shares of BHP Billiton during the 4th quarter worth about $138,000. Premia Global Advisors LLC acquired a new stake in shares of BHP Billiton during the 4th quarter worth about $221,000. Blackhawk Capital Partners LLC. acquired a new stake in shares of BHP Billiton during the 1st quarter worth about $244,000. Finally, MML Investors Services LLC acquired a new stake in shares of BHP Billiton during the 4th quarter worth about $345,000. Institutional investors and hedge funds own 4.54% of the company’s stock.

BHP Billiton Company Profile

BHP Billiton Plc, together with its subsidiaries, discovers, acquires, develops, and markets natural resources worldwide. It operates through four segments: Petroleum, Copper, Iron Ore, and Coal. The company explores for copper, silver, lead, zinc, molybdenum, uranium, gold, and iron ores, as well as metallurgical coal, thermal energy coal, and oil and gas properties.

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Analyst Recommendations for BHP Billiton (NYSE:BBL)

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