BHP Billiton (NYSE:BBL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $47.00 price objective on the mining company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.74% from the company’s previous close.
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. “
Other research analysts have also issued reports about the company. Morgan Stanley lowered BHP Billiton from an “overweight” rating to an “equal” rating in a research report on Tuesday, September 25th. ValuEngine lowered BHP Billiton from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $42.50.
BBL opened at $41.69 on Thursday. BHP Billiton has a 52 week low of $35.48 and a 52 week high of $47.92. The firm has a market cap of $46.44 billion, a PE ratio of 12.41, a PEG ratio of 2.37 and a beta of 1.12. The company has a quick ratio of 2.24, a current ratio of 2.51 and a debt-to-equity ratio of 0.40.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of BHP Billiton during the second quarter worth $112,000. Commerzbank Aktiengesellschaft FI purchased a new position in BHP Billiton in the second quarter valued at $203,000. Advisor Partners LLC purchased a new position in BHP Billiton in the second quarter valued at $205,000. NumerixS Investment Technologies Inc boosted its holdings in BHP Billiton by 1,400.0% in the second quarter. NumerixS Investment Technologies Inc now owns 6,000 shares of the mining company’s stock valued at $269,000 after purchasing an additional 5,600 shares during the period. Finally, Lourd Capital LLC purchased a new position in BHP Billiton in the third quarter valued at $271,000. Institutional investors and hedge funds own 4.19% 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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