BHP Billiton (NYSE:BBL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $43.00 price objective on the mining company’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.92% from the stock’s previous close.
According to Zacks, “BHP Billiton Plc is engaged in production of minerals which includes iron ore, metallurgical coal, copper and uranium as well as oil, gas and energy coal. BHP Billiton Plc is based in Collins Street, Melbourne Victoria. “
Several other equities analysts have also recently issued reports on the stock. Jefferies Group set a $38.00 price target on shares of BHP Billiton and gave the company a “hold” rating in a research report on Thursday, October 5th. BidaskClub upgraded shares of BHP Billiton from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Finally, ValuEngine cut shares of BHP Billiton from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $40.50.
Several hedge funds and other institutional investors have recently made changes to their positions in BBL. Cheyne Capital Management UK LLP purchased a new position in shares of BHP Billiton during the third quarter valued at about $1,068,000. Mason Capital Management LLC bought a new stake in BHP Billiton during the second quarter worth about $46,601,000. Polaris Capital Management LLC boosted its stake in BHP Billiton by 15.2% during the second quarter. Polaris Capital Management LLC now owns 4,138,188 shares of the mining company’s stock worth $127,291,000 after acquiring an additional 546,628 shares in the last quarter. Northern Trust Corp boosted its stake in BHP Billiton by 20.9% during the second quarter. Northern Trust Corp now owns 1,532,668 shares of the mining company’s stock worth $47,145,000 after acquiring an additional 265,186 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in BHP Billiton during the third quarter worth about $8,956,000. Institutional investors own 4.39% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Upgrades BHP Billiton (BBL) to Buy” was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://sportsperspectives.com/2017/12/19/zacks-investment-research-upgrades-bhp-billiton-bbl-to-buy.html.
BHP Billiton Company Profile
BHP Billiton Plc is a global resources company. The Company is a producer of various commodities, including iron ore, metallurgical coal, copper and uranium. Its segments include Petroleum, Copper, Iron Ore and Coal. The Petroleum segment is engaged in the exploration, development and production of oil and gas.
Receive News & Ratings for BHP Billiton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BHP Billiton and related companies with MarketBeat.com's FREE daily email newsletter.