The BHP Billiton Limited share price is getting smashed today
- Author: Zachary Reyes Apr 13, 2017,
Apr 13, 2017, 18:28
Several investment firms issued their expert ratings on BHP Billiton Limited (BHP) in which Citigroup Upgrades BHP Billiton Limited (BHP) to Buy with no specific Price Target on 12/05/16.
BHP Billiton Limited (NYSE:BHP) stock closed at $36.58 in last session with the total traded volume of 7.74 Million. The stock now has an average rating of "Hold" and an average target price of GBX 1,323.43 ($16.43). Inc. now owns 4,680 shares of the mining company's stock worth $162,000 after buying an additional 802 shares during the last quarter.
Knights reiterated his sell rating and £8 price target for the stock, which implies downside of more than 30%, based on a bearish outlook for copper and iron ore prices. The 52 week high for the share price is now at 1518.5 GBX while the 52 week low is 781.14 GBX.
The other factor sending the BHP share price sharply lower today is some heat coming out of its valuation after its management team appeared to ignore proposals from US group Elliott Management that is led by Paul Singer a hedge fund manager well known for having a high regard of his own opinion. If you are reading this news story on another site, it was stolen and republished in violation of United States and global copyright & trademark laws. The ex-dividend date was Wednesday, March 8th.
The stock now has its Annual Dividend of $1.08 and an annual Dividend Yield of 2.95 Percent. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. BHP Billiton plc earned a media sentiment score of 0.19 on Alpha One's scale.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBL. Cutler Group LP increased its position in BHP Billiton plc by 128.5% in the first quarter. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/04/13/bhp-billiton-plc-bbl-downgraded-by-zacks-investment-research-to-hold.html. Finally, NBT Bank N A NY acquired a new stake in shares of BHP Billiton Limited during the third quarter worth approximately $227,000.
Andrew Mackenzie, Chief Executive Officer, said: "BHP Billiton is now a stronger, simpler company, well-positioned for future economic conditions". The idea of spinning off its petroleum assets as soon as possible might make sense, with oil prospects like Texas's Permian Basin now expanding their shale oil production at rates previously considered unthinkable thanks to new extraction technologies constantly evolving.