World's largest mining firm in profit rebound
- Author: Zachary Reyes Feb 21, 2017,
Feb 21, 2017, 12:26
BHP Billiton announced a higher-than-expected interim dividend, after the commodity giant returned to profit in the first half of the 2016-17 financial year. The company had a trading volume of 6,377,617 shares.
Group chief executive Andrew Mackenzie said on Tuesday (21 February), that the company will pay a 40 cents interim dividend, up from 16 cents past year and beating analysts' expectations for a 30 cents figure.
The company's 50 day moving average is 1395.55 and its 200 day moving average is 1231.69. Royal Bank of Canada now owns 527,427 shares of the mining company's stock valued at $13,385,000 after buying an additional 2,243 shares during the period. Relative price strength is a important factor used by wealth management firms while investing in stocks because the indicator compares the stock performance with the overall market.
"Liberum Capital Reiterates Sell Rating for BHP Billiton plc (BLT)" was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another site, it was stolen and reposted in violation of U.S. and worldwide copyright & trademark legislation. BHP Billiton plc presently has a consensus rating of Hold and a consensus target price of GBX 1,242.48 ($15.53).
The interim dividend rose to 40 cents a share, from 16 cents a year earlier, and was higher than the minimum amount set out under a policy that ties returns to profits, BHP said. Finally, HSBC Holdings plc began coverage on shares of BHP Billiton plc in a research report on Thursday, November 10th. The original version of this report can be read at https://baseballnewssource.com/markets/dimensional-fund-advisors-lp-has-123407000-position-in-bhp-billiton-limited-bhp/446225.html.
Shares of BHP Billiton Limited (NYSE:BHP) opened at 40.28 on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company's stock.
Copper is expected to "maintain a well-supplied market in balance" in the short-medium term, whereas iron ore is seen as likely to "come under pressure in the short-term from moderating Chinese steel demand growth, high port inventories and incremental low cost supply".
"The Chinese economy is going quite strongly at the moment, partly down to stimulus that was stated probably about three quarters back, and that has really pushed up the premia for high quality iron ore and metallurgical coal and they're our principle products". The Petroleum segment is engaged in the exploration, development and production of oil and gas.