You must have known too well about BHP london operating unit. Could you please give some of your thoughts. HP Billiton Limited (BHP) Downgraded by Zacks Investment Research
Posted by Bonnie Powley on Jun 23rd, 2016 // No Comments
Zacks Investment Research downgraded shares of BHP Billiton Limited (NYSE:BHP)from a buy rating to a hold rating in a research note released on Friday morning.
According to Zacks, “Demand for the industrial metals and energy sources offered by BHP Billion are on the rise. The company is trying to improve its business through a new operating business model designed for making its business less sensitive to market headwinds. The company is also strategically improving its asset portfolio by acquiring less expensive lucrative assets. However, BHP Billion recognizes that its manufacturing capacity is hurt due to deferral of investments, sale of assets, weather issues and productivity-related problems. Moreover, dismal pricing conditions in the commodity market and weak demand from certain major industrial markets continue to hurt top-line. Also, intense competition exposes the company to risks of market share loss.”
BHP has been the subject of several other research reports. Citigroup Inc. reissued a neutral rating on shares of BHP Billiton Limited in a research report on Tuesday, June 7th. Vetr raised BHP Billiton Limited from a hold rating to a strong-buy rating and set a $35.33 price objective for the company in a research report on Monday, April 25th. Argus began coverage on BHP Billiton Limited in a research report on Wednesday, March 9th. They set a hold rating and a $28.00 price objective for the company. Sanford C. Bernstein reissued a market perform rating on shares of BHP Billiton Limited in a research report on Wednesday, February 24th. Finally, Macquarie cut BHP Billiton Limited from a neutral rating to an underperform rating in a research report on Tuesday, March 15th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $27.76.
A number of large investors have added to or reduced their stakes in the company. Seaward Management Limited Partnership raised its stake in BHP Billiton Limited by 25.4% in the fourth quarter. Seaward Management Limited Partnership now owns 260,882 shares of the mining company’s stock worth $6,720,000 after buying an additional 52,905 shares during the period. Eaton Vance Management raised its stake in BHP Billiton Limited by 18.9% in the fourth quarter. Eaton Vance Management now owns 291,510 shares of the mining company’s stock worth $7,509,000 after buying an additional 46,388 shares during the period. Bank of Montreal Can increased its position in BHP Billiton Limited by 35.6% in the fourth quarter. Bank of Montreal Can now owns 102,296 shares of the mining company’s stock valued at $2,635,000 after buying an additional 26,842 shares in the last quarter. GAM Holding AG increased its position in BHP Billiton Limited by 39.5% in the fourth quarter. GAM Holding AG now owns 412,567 shares of the mining company’s stock valued at $10,628,000 after buying an additional 116,787 shares in the last quarter. Finally, Comerica Bank increased its position in BHP Billiton Limited by 4.4% in the fourth quarter. Comerica Bank now owns 86,879 shares of the mining company’s stock valued at $1,907,000 after buying an additional 3,701 shares in the last quarter.
Shares of BHP Billiton Limited (NYSE:BHP) opened at 28.05 on Friday. BHP Billiton Limited has a one year low of $18.46 and a one year high of $44.17. The company’s market cap is $74.64 billion. The company has a 50 day moving average price of $27.49 and a 200 day moving average price of $25.67.
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.
Zacks Investment Research downgraded shares of BHP Billiton Limited (NYSE:BHP)from a buy rating to a hold rating in a research note released on Friday morning.
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