BHP Billiton Limited (BHP) Rating Increased to Buy at Zacks Investment Research

BHP Billiton Limited (NYSE:BHP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $48.00 target price on the mining company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.15% from the stock’s current price.

According to Zacks, “Over the last six months, BHP Billiton's shares have outperformed the industry. 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%. BHP Billiton had also reported robust results in fiscal 2017. Earnings came in at $1.27 per American Depositary Share (ADS), up from 23 cents recorded in fiscal 2016. The company is poised to grow on increased productivity, greater cost discipline and more efficient operations.”

BHP has been the subject of several other research reports. BidaskClub upgraded shares of BHP Billiton Limited from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Argus reduced their price target on shares of BHP Billiton Limited from $46.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, June 27th. Cowen and Company set a $43.00 price objective on shares of BHP Billiton Limited and gave the company a “hold” rating in a research note on Thursday, August 24th. HSBC Holdings plc lowered shares of BHP Billiton Limited from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Finally, ValuEngine lowered shares of BHP Billiton Limited from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Five analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $36.52.

BHP Billiton Limited (NYSE:BHP) traded down 1.58% during midday trading on Wednesday, hitting $41.75. 1,000,957 shares of the stock were exchanged. The firm’s 50-day moving average is $42.15 and its 200 day moving average is $38.45. The stock has a market cap of $111.13 billion, a price-to-earnings ratio of 18.91 and a beta of 1.09. BHP Billiton Limited has a 52 week low of $33.37 and a 52 week high of $44.62.

COPYRIGHT VIOLATION WARNING: “BHP Billiton Limited (BHP) Rating Increased to Buy at Zacks Investment Research” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://ledgergazette.com/2017/10/18/bhp-billiton-limited-bhp-rating-increased-to-buy-at-zacks-investment-research.html.

Several institutional investors and hedge funds have recently made changes to their positions in BHP. Cheyne Capital Management UK LLP acquired a new position in shares of BHP Billiton Limited during the 2nd quarter worth $12,505,000. Sei Investments Co. increased its stake in shares of BHP Billiton Limited by 111.3% during the 2nd quarter. Sei Investments Co. now owns 682,899 shares of the mining company’s stock worth $24,040,000 after purchasing an additional 359,682 shares during the last quarter. LMR Partners LLP increased its stake in shares of BHP Billiton Limited by 38.6% during the 2nd quarter. LMR Partners LLP now owns 967,223 shares of the mining company’s stock worth $34,622,000 after purchasing an additional 269,303 shares during the last quarter. UBS Oconnor LLC increased its stake in shares of BHP Billiton Limited by 86.8% during the 1st quarter. UBS Oconnor LLC now owns 444,414 shares of the mining company’s stock worth $16,141,000 after purchasing an additional 206,529 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of BHP Billiton Limited 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 purchasing an additional 142,481 shares during the last quarter. Institutional investors own 2.98% of the company’s stock.

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

According to Zacks, “Over the last six months, BHP Billiton's shares have outperformed the industry. 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%. BHP Billiton had also reported robust results in fiscal 2017. Earnings came in at $1.27 per American Depositary Share (ADS), up from 23 cents recorded in fiscal 2016. The company is poised to grow on increased productivity, greater cost discipline and more efficient operations.”

BHP has been the subject of several other research reports. BidaskClub upgraded shares of BHP Billiton Limited from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Argus reduced their price target on shares of BHP Billiton Limited from $46.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, June 27th. Cowen and Company set a $43.00 price objective on shares of BHP Billiton Limited and gave the company a “hold” rating in a research note on Thursday, August 24th. HSBC Holdings plc lowered shares of BHP Billiton Limited from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Finally, ValuEngine lowered shares of BHP Billiton Limited from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Five analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $36.52.

BHP Billiton Limited (NYSE:BHP) traded down 1.58% during midday trading on Wednesday, hitting $41.75. 1,000,957 shares of the stock were exchanged. The firm’s 50-day moving average is $42.15 and its 200 day moving average is $38.45. The stock has a market cap of $111.13 billion, a price-to-earnings ratio of 18.91 and a beta of 1.09. BHP Billiton Limited has a 52 week low of $33.37 and a 52 week high of $44.62.

COPYRIGHT VIOLATION WARNING: “BHP Billiton Limited (BHP) Rating Increased to Buy at Zacks Investment Research” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://ledgergazette.com/2017/10/18/bhp-billiton-limited-bhp-rating-increased-to-buy-at-zacks-investment-research.html.

Several institutional investors and hedge funds have recently made changes to their positions in BHP. Cheyne Capital Management UK LLP acquired a new position in shares of BHP Billiton Limited during the 2nd quarter worth $12,505,000. Sei Investments Co. increased its stake in shares of BHP Billiton Limited by 111.3% during the 2nd quarter. Sei Investments Co. now owns 682,899 shares of the mining company’s stock worth $24,040,000 after purchasing an additional 359,682 shares during the last quarter. LMR Partners LLP increased its stake in shares of BHP Billiton Limited by 38.6% during the 2nd quarter. LMR Partners LLP now owns 967,223 shares of the mining company’s stock worth $34,622,000 after purchasing an additional 269,303 shares during the last quarter. UBS Oconnor LLC increased its stake in shares of BHP Billiton Limited by 86.8% during the 1st quarter. UBS Oconnor LLC now owns 444,414 shares of the mining company’s stock worth $16,141,000 after purchasing an additional 206,529 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of BHP Billiton Limited 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 purchasing an additional 142,481 shares during the last quarter. Institutional investors own 2.98% of the company’s stock.

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.

Analyst Recommendations for BHP Billiton Limited (NYSE:BHP)

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