BHP Billiton (BHP) Shares Gap Up to $48.50

Shares of BHP Billiton Limited (NYSE:BHP) gapped up before the market opened on Friday . The stock had previously closed at $49.25, but opened at $48.50. BHP Billiton shares last traded at $48.05, with a volume of 193224 shares traded.

A number of analysts have recently weighed in on BHP shares. Zacks Investment Research raised shares of BHP Billiton from a “hold” rating to a “strong-buy” rating and set a $57.00 price target for the company in a research report on Tuesday, September 25th. ValuEngine downgraded shares of BHP Billiton from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Finally, Deutsche Bank downgraded shares of BHP Billiton from a “buy” rating to a “hold” rating in a research report on Monday, September 10th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $48.20.

The company has a debt-to-equity ratio of 0.40, a current ratio of 2.51 and a quick ratio of 2.24.

Several hedge funds have recently added to or reduced their stakes in BHP. Fisher Asset Management LLC lifted its stake in BHP Billiton by 18.3% during the third quarter. Fisher Asset Management LLC now owns 6,474,353 shares of the mining company’s stock worth $322,682,000 after purchasing an additional 1,000,365 shares during the last quarter. FMR LLC increased its stake in BHP Billiton by 2.2% in the 2nd quarter. FMR LLC now owns 2,225,815 shares of the mining company’s stock worth $111,313,000 after purchasing an additional 48,406 shares in the last quarter. Earnest Partners LLC increased its stake in BHP Billiton by 0.6% in the 2nd quarter. Earnest Partners LLC now owns 1,685,456 shares of the mining company’s stock worth $84,290,000 after purchasing an additional 10,094 shares in the last quarter. Northern Trust Corp increased its stake in BHP Billiton by 4.1% in the 2nd quarter. Northern Trust Corp now owns 1,658,255 shares of the mining company’s stock worth $82,930,000 after purchasing an additional 65,526 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in BHP Billiton by 34.6% in the 2nd quarter. Voya Investment Management LLC now owns 1,631,363 shares of the mining company’s stock worth $81,585,000 after purchasing an additional 419,757 shares in the last quarter. 3.33% of the stock is owned by institutional investors and hedge funds.

About BHP Billiton (NYSE:BHP)

BHP Billiton Limited discovers, acquires, develops, and markets natural resources worldwide. It operates through four segments: Petroleum, Copper, Iron Ore, and Coal. The company explores for copper, silver, lead, zinc, molybdenum, uranium, gold, and iron ore, as well as metallurgical and energy coal, and oil and gas properties.

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