BHP Billiton (BBL) Upgraded to “Buy” by Zacks Investment Research

BHP Billiton (NYSE:BBL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $50.00 price objective on the mining company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.91% from the stock’s previous close.

According to Zacks, “BHP Billiton Plc is engaged in production of minerals which includes iron ore, metallurgical coal, copper and uranium as well as oil, gas and energy coal. BHP Billiton Plc is based in Collins Street, Melbourne Victoria. “

Separately, Jefferies Group set a $38.00 price target on shares of BHP Billiton and gave the stock a “hold” rating in a research note on Thursday, October 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $45.00.

Shares of BHP Billiton (BBL) traded up $0.26 on Friday, reaching $44.68. 1,103,187 shares of the company’s stock were exchanged, compared to its average volume of 1,799,422. 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 1 year low of $28.73 and a 1 year high of $45.30.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cambiar Investors LLC increased its holdings in shares of BHP Billiton by 4.3% in the third quarter. Cambiar Investors LLC now owns 5,423,369 shares of the mining company’s stock valued at $192,258,000 after purchasing an additional 222,160 shares in the last quarter. Polaris Capital Management LLC increased its holdings in shares of BHP Billiton by 15.2% in the second quarter. Polaris Capital Management LLC now owns 4,138,188 shares of the mining company’s stock valued at $127,291,000 after purchasing an additional 546,628 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of BHP Billiton by 7.9% in the third quarter. Thompson Siegel & Walmsley LLC now owns 1,780,367 shares of the mining company’s stock valued at $63,114,000 after purchasing an additional 129,665 shares in the last quarter. Cheyne Capital Management UK LLP acquired a new stake in shares of BHP Billiton in the third quarter valued at approximately $1,068,000. Finally, Northern Trust Corp increased its holdings in shares of BHP Billiton by 20.9% in the second quarter. Northern Trust Corp now owns 1,532,668 shares of the mining company’s stock valued at $47,145,000 after purchasing an additional 265,186 shares in the last quarter. 4.39% of the stock is owned by institutional investors.

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About BHP Billiton

BHP Billiton Plc 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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