BHP Billiton Limited (BHP) Price Target Cut to $34.00 by Analysts at Argus

BHP Billiton Limited (NYSE:BHP) had its price target cut by Argus from $46.00 to $34.00 in a report published on Tuesday morning, MarketBeat reports. They currently have a buy rating on the mining company’s stock.

A number of other analysts have also issued reports on BHP. HSBC Holdings plc upgraded BHP Billiton Limited from a hold rating to a buy rating and reduced their target price for the company from $41.79 to $25.75 in a report on Wednesday, April 19th. Citigroup Inc. upgraded BHP Billiton Limited from a neutral rating to a buy rating in a report on Wednesday, April 26th. Investec upgraded BHP Billiton Limited from a hold rating to a buy rating in a report on Friday, March 17th. Goldman Sachs Group, Inc. (The) lowered BHP Billiton Limited from a neutral rating to a sell rating in a report on Tuesday, April 25th. Finally, BidaskClub lowered BHP Billiton Limited from a hold rating to a sell rating in a report on Saturday, June 17th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. BHP Billiton Limited presently has an average rating of Hold and an average target price of $33.13.

BHP Billiton Limited (NYSE:BHP) traded up 3.11% during trading on Tuesday, hitting $35.48. The stock had a trading volume of 2,291,915 shares. BHP Billiton Limited has a 1-year low of $25.75 and a 1-year high of $41.79. The firm’s 50-day moving average price is $35.29 and its 200-day moving average price is $37.28. The stock has a market cap of $94.41 billion, a PE ratio of 38.07 and a beta of 1.12.

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A number of institutional investors have recently bought and sold shares of the company. Scout Investments Inc. increased its position in BHP Billiton Limited by 186.0% in the first quarter. Scout Investments Inc. now owns 1,153,905 shares of the mining company’s stock valued at $29,886,000 after buying an additional 750,402 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in BHP Billiton Limited by 17.3% in the first quarter. Parametric Portfolio Associates LLC now owns 1,110,806 shares of the mining company’s stock valued at $40,344,000 after buying an additional 163,824 shares during the last quarter. Tocqueville Asset Management L.P. increased its position in BHP Billiton Limited by 8.2% in the first quarter. Tocqueville Asset Management L.P. now owns 837,654 shares of the mining company’s stock valued at $30,424,000 after buying an additional 63,379 shares during the last quarter. LMR Partners LLP acquired a new position in BHP Billiton Limited during the first quarter valued at approximately $25,600,000. Finally, Lazard Asset Management LLC increased its position in BHP Billiton Limited by 1.8% in the first quarter. Lazard Asset Management LLC now owns 695,345 shares of the mining company’s stock valued at $25,254,000 after buying an additional 12,511 shares during the last quarter. 2.99% of the stock is currently owned by hedge funds and other institutional investors.

About BHP Billiton Limited

BHP Billiton Limited 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.

Analyst Recommendations for BHP Billiton Limited (NYSE:BHP)

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