Published: Thu, July 20, 2017
Markets | By Terence Owen

Oil, copper weigh on BHP's iron ore growth

Oil, copper weigh on BHP's iron ore growth

Main Street Research LLC's holdings in BHP Billiton Limited were worth $8,805,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 2.99% of the company's stock. V Wealth Management LLC bought a new position in BHP Billiton Limited during the second quarter worth $133,000. Capstone Asset Management Co. boosted its stake in shares of BHP Billiton PLC by 12.7% in the first quarter. Cutler Group LP now owns 9,438 shares of the mining company's stock worth $293,000 after buying an additional 5,308 shares during the period. Over the last 30 and 90 trading days the company share price has increased 140.5 points and increased 123.5 points respectively. The institutional investor purchased 3,700 shares of the mining company's stock, valued at approximately $133,000. BHP Billiton plc (ADR) (NYSE:BBL) has risen 31.15% since July 19, 2016 and is uptrending. The dividend was $0.270 per share for the quarter or $1.08 annualized.

Beta is also an important valuation ratio for analyzing the stock of the company, BHP has Beta of 1.14 while its industry and Sector's beta remains at 1.29 and 0.93 respectively.

BHP Billiton (ASX:BHP) has achieved full year 2017 production guidance for petroleum and iron ore with annual production records at Western Australia Iron Ore (WAIO), Spence and two Queensland coal mines.

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3 number of analysts have estimated the sales of the company for the quarter, analysts estimated mean sale target of 38787.2 million while high and low sale targets are estimated at 40530 million and 37186.6 million respectively. BidaskClub raised BHP Billiton Limited from a "hold" rating to a "buy" rating in a report on Tuesday, July 11th. Deutsche Bank AG upgraded shares of BHP Billiton plc to a "buy" rating and lifted their price target for the company from GBX 1,400 ($18.28) to GBX 1,600 ($20.89) in a report on Thursday, July 6th. Zacks Investment Research raised shares of BHP Billiton PLC from a "hold" rating to a "buy" rating and set a $35.00 price objective for the company in a research report on Wednesday, April 5th.

The extra spending on the division is an example of how BHP wants to prove the potential in its shale assets before selling them, amid calls from shareholders for the assets to be sold or demerged. Argus cut their price target on BHP Billiton Limited from $46.00 to $34.00 and set a "buy" rating for the company in a research note on Tuesday, June 27th. The stock has "Hold" rating by Liberum Capital on Wednesday, August 5. BHP Billiton announced the strike had cost it $546 million before tax, or $367 million after tax.

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