BHP Billiton Limited (NYSE:BHP) Cut to Buy at BidaskClub

BidaskClub cut shares of BHP Billiton Limited (NYSE:BHP) from a strong-buy rating to a buy rating in a report issued on Tuesday, July 25th.

A number of other brokerages have also recently issued reports on BHP. Citigroup Inc. cut shares of BHP Billiton Limited from a buy rating to a neutral rating and decreased their price objective for the company from $41.79 to $28.02 in a report on Wednesday, July 19th. HSBC Holdings plc cut shares of BHP Billiton Limited from a buy rating to a hold rating in a report on Friday, July 14th. Sanford C. Bernstein upgraded shares of BHP Billiton Limited from a market perform rating to an outperform rating and set a $44.88 price objective for the company in a report on Wednesday, July 5th. They noted that the move was a valuation call. Deutsche Bank AG upgraded shares of BHP Billiton Limited from a hold rating to a buy rating in a report on Wednesday, July 5th. Finally, Goldman Sachs Group, Inc. (The) cut shares of BHP Billiton Limited from a neutral rating to a sell rating in a report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $34.24.

Shares of BHP Billiton Limited (NYSE BHP) traded down 0.15% during midday trading on Tuesday, hitting $40.40. 1,831,147 shares of the company traded hands. The stock has a market capitalization of $107.50 billion, a P/E ratio of 43.35 and a beta of 1.12. The stock’s 50-day moving average is $39.65 and its 200 day moving average is $37.45. BHP Billiton Limited has a 12-month low of $29.30 and a 12-month high of $42.00.

Several hedge funds have recently made changes to their positions in BHP. Huntington National Bank raised its stake in shares of BHP Billiton Limited by 25.3% in the second quarter. Huntington National Bank now owns 2,837 shares of the mining company’s stock worth $101,000 after buying an additional 572 shares in the last quarter. Proficio Capital Partners LLC raised 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 worth $114,000 after buying an additional 1,727 shares in the last quarter. Fifth Third Bancorp raised 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 worth $121,000 after buying an additional 426 shares in the last quarter. Bollard Group LLC raised 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 worth $127,000 after buying an additional 2,349 shares in the last quarter. Finally, Cohen Capital Management Inc. acquired a new stake in shares of BHP Billiton Limited during the first quarter worth approximately $131,000. 2.90% of the stock is currently owned by institutional investors and hedge funds.

About BHP Billiton Limited

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.