BidaskClub Upgrades BHP Billiton PLC (BBL) to Buy
BHP Billiton PLC (NYSE:BBL) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.
Several other research firms have also recently weighed in on BBL. ValuEngine cut BHP Billiton PLC from a “strong-buy” rating to a “buy” rating in a report on Thursday. Jefferies Group LLC set a $37.00 target price on BHP Billiton PLC and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised BHP Billiton PLC from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of BHP Billiton PLC in a report on Monday, May 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. BHP Billiton PLC currently has a consensus rating of “Hold” and an average target price of $36.00.
BHP Billiton PLC (BBL) opened at 37.19 on Friday. The company’s 50 day moving average price is $35.07 and its 200-day moving average price is $32.45. The firm has a market capitalization of $99.00 billion, a price-to-earnings ratio of 16.84 and a beta of 1.05. BHP Billiton PLC has a 12-month low of $25.61 and a 12-month high of $38.80.
Several hedge funds and other institutional investors have recently modified their holdings of BBL. Mason Capital Management LLC purchased a new position in shares of BHP Billiton PLC during the second quarter worth $46,601,000. Cambiar Investors LLC raised its position in shares of BHP Billiton PLC by 41.7% in the first quarter. Cambiar Investors LLC now owns 4,810,247 shares of the mining company’s stock worth $149,839,000 after buying an additional 1,415,077 shares during the last quarter. Morgan Stanley raised its position in shares of BHP Billiton PLC by 33.9% in the first quarter. Morgan Stanley now owns 2,496,519 shares of the mining company’s stock worth $77,767,000 after buying an additional 631,725 shares during the last quarter. Bank of America Corp DE raised its position in shares of BHP Billiton PLC by 53.3% in the first quarter. Bank of America Corp DE now owns 1,603,372 shares of the mining company’s stock worth $49,944,000 after buying an additional 557,149 shares during the last quarter. Finally, Polaris Capital Management LLC raised its position in BHP Billiton PLC 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 buying an additional 546,628 shares in the last quarter. Hedge funds and other institutional investors own 4.12% of the company’s stock.
About BHP Billiton PLC
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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