BHP Billiton Limited (BHP) Stock Rating Upgraded by Zacks Investment Research

BHP Billiton Limited (NYSE:BHP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Over the last one month, BHP Billiton’s shares outperformed the industry. Improving iron-ore prices will likely bolster the company’s results in the quarters ahead. The company is also poised to grow on the lower costs, increased productivity and superior operations. However, over the last 30 days, the Zacks Consensus Estimate for the stock moved south for fiscal 2018. We believe that headwinds such as stiff industry rivalry, sudden outbreak of any natural disaster or unfavorable government policies might hurt the BHP Billiton’s results in the quarters ahead.”

A number of other brokerages have also recently issued reports on BHP. BidaskClub raised shares of BHP Billiton Limited from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Goldman Sachs Group, Inc. (The) cut shares of BHP Billiton Limited from a “neutral” rating to a “sell” rating in a research note on Tuesday, April 25th. Deutsche Bank AG raised shares of BHP Billiton Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. UBS AG raised shares of BHP Billiton Limited from a “neutral” rating to a “buy” rating in a research note on Thursday, June 8th. Finally, Jefferies Group LLC cut shares of BHP Billiton Limited from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research note on Thursday, June 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. BHP Billiton Limited presently has an average rating of “Hold” and a consensus target price of $34.24.

Shares of BHP Billiton Limited (NYSE BHP) traded down 1.036% on Tuesday, reaching $41.555. 983,906 shares of the company’s stock traded hands. The stock has a market cap of $110.58 billion, a price-to-earnings ratio of 44.587 and a beta of 1.12. BHP Billiton Limited has a 52-week low of $28.97 and a 52-week high of $41.79. The firm’s 50-day moving average is $37.32 and its 200-day moving average is $37.36.

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A number of institutional investors have recently added to or reduced their stakes in BHP. Huntington National Bank raised its position in BHP Billiton Limited by 25.3% in the second quarter. Huntington National Bank now owns 2,837 shares of the mining company’s stock valued at $101,000 after buying an additional 572 shares during the period. Proficio Capital Partners LLC increased its stake in shares of BHP Billiton Limited by 122.8% in the first quarter. Proficio Capital Partners LLC now owns 3,133 shares of the mining company’s stock valued at $114,000 after buying an additional 1,727 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of BHP Billiton Limited by 14.6% in the first quarter. Fifth Third Bancorp now owns 3,345 shares of the mining company’s stock valued at $121,000 after buying an additional 426 shares in the last quarter. Bollard Group LLC increased its stake in shares of BHP Billiton Limited by 205.3% in the first quarter. Bollard Group LLC now owns 3,493 shares of the mining company’s stock valued at $127,000 after buying an additional 2,349 shares in the last quarter. Finally, Cohen Capital Management Inc. purchased a new stake in shares of BHP Billiton Limited during the first quarter valued at $131,000. Institutional investors and hedge funds own 2.98% of the company’s stock.

BHP Billiton Limited 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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