BHP Billiton (BHP) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of BHP Billiton (NYSE:BHP) from a hold rating to a buy rating in a research note released on Tuesday morning. They currently have $54.00 price objective on the mining company’s stock.

According to Zacks, “Over the last six months, BHP Billiton’s shares have outperformed the industry. Improving iron ore prices is expected to benefit BHP Billiton’s near-term results. 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%. Moreover, BHP Billiton reported robust results in fiscal 2017. The company is also poised to grow on increased productivity and more efficient operations. Over the last 60 days, Zacks Consensus Estimate for the stock moved north for fiscal 2018.”

BHP has been the topic of several other research reports. JPMorgan Chase & Co. raised BHP Billiton from an underweight rating to a neutral rating in a research note on Thursday, December 14th. ValuEngine downgraded BHP Billiton from a buy rating to a hold rating in a research report on Friday, September 22nd. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and an average price target of $38.66.

Shares of BHP Billiton (NYSE BHP) traded up $1.02 during trading hours on Tuesday, hitting $50.69. The stock had a trading volume of 3,852,058 shares, compared to its average volume of 2,080,000. The stock has a market cap of $126,660.00, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 3.22 and a beta of 1.14. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.53. BHP Billiton has a fifty-two week low of $33.37 and a fifty-two week high of $50.79.

Several institutional investors have recently modified their holdings of BHP. JPMorgan Chase & Co. raised its position in shares of BHP Billiton by 170.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 598,805 shares of the mining company’s stock worth $24,245,000 after purchasing an additional 377,242 shares during the last quarter. Jennison Associates LLC raised its position in shares of BHP Billiton by 34.7% during the 3rd quarter. Jennison Associates LLC now owns 911,838 shares of the mining company’s stock worth $36,957,000 after purchasing an additional 235,101 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of BHP Billiton by 12.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,329,420 shares of the mining company’s stock worth $53,881,000 after purchasing an additional 146,127 shares during the last quarter. Quantbot Technologies LP raised its holdings in BHP Billiton by 6,136.1% in the 2nd quarter. Quantbot Technologies LP now owns 144,803 shares of the mining company’s stock valued at $5,153,000 after acquiring an additional 142,481 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in BHP Billiton in the 3rd quarter valued at $5,397,000. Hedge funds and other institutional investors own 3.26% of the company’s stock.

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BHP Billiton 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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