Vetr Inc. Downgrades BHP Billiton Ltd. (BHP) to Buy
BHP Billiton Ltd. (NYSE:BHP) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday. They currently have a $35.05 price objective on the mining company’s stock. Vetr‘s price objective indicates a potential upside of 8.92% from the stock’s previous close.
A number of other research firms have also recently commented on BHP. Argus upgraded BHP Billiton from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Tuesday, August 30th. BMO Capital Markets restated a “hold” rating on shares of BHP Billiton in a research report on Monday, August 29th. Jefferies Group upgraded BHP Billiton from a “hold” rating to a “buy” rating and boosted their price objective for the company from $28.00 to $33.00 in a research report on Tuesday, August 23rd. Bank of America Corp. restated a “buy” rating on shares of BHP Billiton in a research report on Tuesday, August 16th. Finally, Macquarie upgraded BHP Billiton from an “underperform” rating to a “neutral” rating in a research report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $30.06.
Shares of BHP Billiton (NYSE:BHP) traded up 3.57% on Wednesday, hitting $32.18. The company had a trading volume of 3,135,904 shares. The stock’s 50-day moving average is $31.17 and its 200 day moving average is $28.79. The company’s market capitalization is $85.63 billion. BHP Billiton has a 52 week low of $18.46 and a 52 week high of $38.10.
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The firm also recently announced a semiannual dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a yield of 1.72%.
A number of large investors have recently bought and sold shares of BHP. Lebenthal Holdings LLC acquired a new stake in BHP Billiton during the second quarter worth approximately $212,000. Stonebridge Capital Advisors LLC increased its stake in BHP Billiton by 3.4% in the second quarter. Stonebridge Capital Advisors LLC now owns 31,569 shares of the mining company’s stock worth $902,000 after buying an additional 1,039 shares in the last quarter. Marketfield Asset Management LLC acquired a new stake in BHP Billiton during the second quarter worth approximately $13,397,000. Point72 Asset Management L.P. acquired a new stake in BHP Billiton during the second quarter worth approximately $3,284,000. Finally, 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 in the last quarter. Institutional investors own 4.60% of the company’s stock.
BHP Billiton Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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