BHP Billiton Limited (NYSE:BHP) Stock Rating Lowered by HSBC Holdings plc

19 July, 2017, 03:13 | Author: Brenda Erickson
  • BHP has set new annual production records at its West Australian iron ore operations

Main Street Research LLC's holdings in BHP Billiton Limited were worth $8,805,000 at the end of the most recent reporting period.

The average twelve-month price target among brokerages that have issued a report on the stock in the past year is $32.00. Fifth Third Bancorp increased its stake in shares of BHP Billiton Limited by 14.6% in the first quarter. Toronto Dominion Bank increased its stake in shares of BHP Billiton Limited by 12.5% in the first quarter. Integrated Investment Consultants LLC now owns 4,292 shares of the mining company's stock worth $134,000 after buying an additional 1,147 shares during the period. Wells Fargo & Company MN raised its position in BHP Billiton PLC by 53.6% in the first quarter. First Financial Corp IN increased its stake in shares of BHP Billiton Limited by 3.7% in the second quarter. PNC Financial Services Group Inc. now owns 7,866 shares of the mining company's stock valued at $245,000 after buying an additional 1,678 shares during the period. Finally, RMB Capital Management LLC acquired a new stake in BHP Billiton PLC during the first quarter worth approximately $291,000.

Hedge funds have recently added to or reduced their stakes in the company.

Shares of BHP Billiton Limited (BHP) traded down 0.50% during midday trading on Tuesday, reaching $39.44.

The counter witnessed a trading volume of 0.29 million shares versus an average volume of 0.67 million shares during last trading session. The company has market cap of $100.43 billion.

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COPYRIGHT VIOLATION NOTICE: "HSBC Holdings plc Lowers BHP Billiton plc (LON:BLT) to Hold" was posted by Sports Perspectives and is the sole property of of Sports Perspectives. The stock's 50 day moving average price is GBX 1,181.98 and its 200-day moving average price is GBX 1,279.78. If you are reading this article on another site, it was copied illegally and republished in violation of USA and worldwide copyright laws. The correct version of this story can be viewed at https://baseballnewssource.com/markets/jjj-advisors-inc-maintains-position-in-bhp-billiton-plc-bbl/1217855.html.

BBL has been the subject of several analyst reports. Zacks Investment Research upgraded BHP Billiton PLC from a "hold" rating to a "buy" rating and set a $37.00 price objective on the stock in a research report on Tuesday, April 11th.

Among 24 analysts covering BHP Billiton Limited (ADR) (NYSE:BHP), 10 have Buy rating, 3 Sell and 11 Hold. UBS AG reiterated a "neutral" rating on shares of BHP Billiton PLC in a research report on Thursday, April 27th. Sanford C. Bernstein upgraded BHP Billiton Limited from a "market perform" rating to an "outperform" rating and set a $44.88 target price for the company in a research report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. BHP Billiton plc presently has an average rating of "Hold" and a consensus price target of GBX 1,316.75 ($17.19).

Output from the company's onshore fields in the United States in decline is set to drop to between 61 and 67 million MMboe in fiscal 2018, BHP said.

BHP's full year profits for fiscal 2017 are expected to be about 500 per cent higher that last year's result on the back of strong iron ore and coal prices, but BHP revealed on Wednesday that it would record exceptional items of $US546 million before tax. The Company's divisions include Petroleum, Copper, Iron Ore and Coal.

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