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

Zacks Investment Research upgraded shares of BHP Billiton (NYSE:BHP) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Over the last three 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%. Moreover, BHP Billiton is also poised to grow on increased productivity and more efficient operations. However, we perceive that declining iron ore prices might be an issue for BHP Billiton and dent its revenues and profitability in the quarters ahead. Also, the company's sensitiveness to environmental hazards such as natural disasters and abnormal rainfall as well as an oversupply situation in the mining market might be concerning.”

A number of other analysts have also commented on BHP. Cowen set a $43.00 price target on BHP Billiton and gave the stock a hold rating in a report on Thursday, August 24th. BidaskClub upgraded BHP Billiton from a buy rating to a strong-buy rating in a report on Saturday, August 26th. Royal Bank of Canada lowered BHP Billiton from a sector perform rating to an underperform rating in a report on Thursday, August 31st. They noted that the move was a valuation call. Raymond James Financial lowered BHP Billiton from a market perform rating to an underperform rating in a report on Friday, September 1st. Finally, BNP Paribas lowered BHP Billiton from a neutral rating to an underperform rating in a report on Wednesday, September 6th. Five analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $36.52.

BHP Billiton (NYSE BHP) opened at $45.06 on Tuesday. BHP Billiton has a fifty-two week low of $33.37 and a fifty-two week high of $45.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.53 and a current ratio of 1.85.

Large investors have recently added to or reduced their stakes in the business. Knowledge Leaders Capital LLC purchased a new stake in BHP Billiton in the third quarter worth $134,000. Acrospire Investment Management LLC increased its position in BHP Billiton by 127.3% in the second quarter. Acrospire Investment Management LLC now owns 4,285 shares of the mining company’s stock worth $153,000 after buying an additional 2,400 shares during the last quarter. Sicart Associates LLC purchased a new stake in BHP Billiton in the third quarter worth $203,000. Toronto Dominion Bank increased its position in BHP Billiton by 7.9% in the second quarter. Toronto Dominion Bank now owns 5,037 shares of the mining company’s stock worth $180,000 after buying an additional 368 shares during the last quarter. Finally, Bray Capital Advisors purchased a new stake in BHP Billiton in the third quarter worth $207,000. 3.26% of the stock is owned by institutional investors and hedge funds.

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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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