Macquarie Upgrades BHP Billiton Ltd. (BHP) to “Outperform”
BHP Billiton Ltd. (NYSE:BHP) was upgraded by Macquarie from a “neutral” rating to an “outperform” rating in a report released on Tuesday.
Several other equities analysts have also weighed in on the company. Zacks Investment Research lowered BHP Billiton from a “buy” rating to a “hold” rating in a report on Friday, August 5th. JPMorgan Chase & Co. upgraded BHP Billiton from an “underweight” rating to a “neutral” rating in a report on Wednesday, July 6th. Bank of America Corp. restated a “buy” rating on shares of BHP Billiton in a report on Tuesday, August 16th. Argus upgraded BHP Billiton from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, August 30th. Finally, BMO Capital Markets restated a “hold” rating on shares of BHP Billiton in a report on Monday, August 29th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $30.09.
BHP Billiton (NYSE:BHP) traded up 2.13% on Tuesday, reaching $31.14. The company’s stock had a trading volume of 673,583 shares. BHP Billiton has a 52 week low of $18.46 and a 52 week high of $38.10. The stock’s 50 day moving average is $31.03 and its 200-day moving average is $28.74. The firm’s market capitalization is $82.86 billion.
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The business also recently disclosed a semiannual dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd will be issued a dividend of $0.28 per share. This represents a yield of 1.72%. The ex-dividend date is Wednesday, August 31st.
A number of large investors have recently added to or reduced their stakes in BHP. Bessemer Group Inc. increased its stake in BHP Billiton by 38.6% in the first quarter. Bessemer Group Inc. now owns 4,150 shares of the mining company’s stock worth $108,000 after buying an additional 1,155 shares during the last quarter. Toronto Dominion Bank increased its stake in BHP Billiton by 229.3% in the second quarter. Toronto Dominion Bank now owns 4,210 shares of the mining company’s stock worth $121,000 after buying an additional 7,465 shares during the last quarter. Signaturefd LLC increased its stake in BHP Billiton by 50.0% in the second quarter. Signaturefd LLC now owns 4,454 shares of the mining company’s stock worth $127,000 after buying an additional 1,485 shares during the last quarter. Manchester Capital Management LLC increased its stake in BHP Billiton by 1.3% in the second quarter. Manchester Capital Management LLC now owns 4,896 shares of the mining company’s stock worth $140,000 after buying an additional 61 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd bought a new stake in BHP Billiton during the first quarter worth $142,000. 4.84% of the stock is currently owned by institutional investors.
About BHP Billiton
BHP Billiton Limited is a global resources company. The Company is engaged in exploration, development, production, processing and marketing of minerals, such as iron ore, metallurgical and energy coal, copper, aluminum, manganese, uranium, nickel, silver and potash. It is also engaged in exploration, development, production and marketing of conventional and unconventional oil and gas.
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