Oil, copper weigh on BHP's iron ore growth

BHP has set new annual production records at its West Australian iron ore operations
How Many BHP Billiton Limited (ADR) (NYSE:BHP)'s Analysts Are Bearish?

20 July, 2017

Institutional investors own 2.99% of the company's stock. Toronto Dominion Bank now owns 4,669 shares of the mining company's stock worth $170,000 after buying an additional 519 shares during the period. Finally, Elliott Management Corp raised its position in BHP Billiton PLC by 157.5% in the fourth quarter. Institutional investors own 2.99% of the company's stock. Renaissance Technologies LLC acquired a new stake in BHP Billiton PLC during the fourth quarter worth $720,000. CENTRAL TRUST Co boosted its stake in shares of BHP Billiton Limited by 1.5% in the second quarter. JPMorgan Chase & Co. now owns 151,220 shares of the mining company's stock worth $4,711,000 after buying an additional 151,000 shares during the period. Vicus Capital raised its position in BHP Billiton Limited by 110.5% in the first quarter. Comerica Bank now owns 93,880 shares of the mining company's stock worth $3,287,000 after buying an additional 1,824 shares in the last quarter. The stock has a market cap of $105.54 billion, a P/E ratio of 42.55 and a beta of 1.09. BHP Billiton PLC has GBX 1850 highest and GBX 515 lowest target. The stock has a 50 day moving average of GBX 1,181.98 and a 200 day moving average of GBX 1,279.78. Goldman Sachs downgraded it to "Neutral" rating and $50 target in Friday, September 16 report. The SI to Bhp Billiton Limited's float is 0.64%. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & worldwide trademark & copyright legislation. The correct version of this story can be read at https://www.themarketsdaily.com/2017/07/18/main-street-research-llc-has-8-81-million-stake-in-bhp-billiton-limited-bhp.html.

BHP shares lost ground on the news, dropping 27 cents, or 1.1 per cent, to $24.83, with analysts ascribing this to the weaker outlook. 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 stock of BHP Billiton Limited (ADR) (NYSE:BHP) has "Buy" rating given on Tuesday, August 30 by Argus Research. Finally, Citigroup Inc. reissued a "buy" rating on shares of BHP Billiton PLC in a research note on Tuesday, April 11th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of "Hold" and an average price target of $33.50.

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Those shareholders may have fresh ammunition to throw at BHP, after the company was forced to resubmit its accounts in the U.S. because "deficiencies were identified in the controls and processes that were used to determine the impairments of certain onshore United States assets".

In its latest production update, the FTSE 100-listed group said its Australian mines produced 70mln tonnes of iron ore in the final quarter of fiscal 2017, sending annual output to 268mln tonnes against guidance of 268mln-272mln tonnes. The Company's divisions include Petroleum, Copper, Iron Ore and Coal. The Petroleum segment is involved in the exploration, development and production of oil and gas.

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