BHP Billiton Ltd., the world's biggest mining company, reported fourth-quarter iron ore output rose 8 percent on capacity additions and supply chain improvements. Vicus Capital raised its position in BHP Billiton Limited by 110.5% in the first quarter. V Wealth Management LLC purchased a new stake in BHP Billiton Limited during the second quarter valued at $133,000.
The company's Australian mines produced 70 million tonnes of iron ore in the final quarter of fiscal 2017 taking into account the share of production from of joint-venture partners, sending annual output to 268 million tonnes against guidance of 268 million-272 million tonnes.
BHP Billiton plc (BLT) opened at 1310.00 on Friday. The company had a trading volume of 1,194,886 shares. BHP Billiton Limited has a 1-year low of $27.83 and a 1-year high of $41.79. The firm has a 50 day moving average price of $31.04 and a 200 day moving average price of $32.29. The company's market capitalization is GBX 70.22 billion.
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BBL has been the topic of a number of recent analyst reports. HSBC Holdings plc downgraded BHP Billiton Limited from a "buy" rating to a "hold" rating in a research note on Friday, July 14th. UBS AG set a GBX 1,375 ($17.96) price target on shares of BHP Billiton plc and gave the company a "buy" rating in a report on Thursday, July 6th. Citigroup Inc. raised BHP Billiton Limited from a "neutral" rating to a "buy" rating in a report on Wednesday, April 26th. The stock of Host Hotels and Resorts Inc (NYSE:HST) earned "Neutral" rating by Goldman Sachs on Monday, September 26. Barclays Capital maintained the shares of BHP in report on Wednesday, July 22 with "Overweight" rating. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. BHP Billiton Limited now has a consensus rating of "Hold" and an average target price of $34.81.
Those shareholders may have fresh ammunition to throw at BHP, after the company was forced to resubmit its accounts in the United States because "deficiencies were identified in the controls and processes that were used to determine the impairments of certain onshore USA assets".
Production from BHP's oil and gas business which has come under pressure from activist shareholders keen on a spin-off of the division declined 13% to 208m barrels oil equivalent.
The decision to allocate the funds comes amid a dismal year for BHP's copper operations, due largely to a 44-day strike at the Escondida mine in Chile, resulting in expected writedowns exceeding US$500 million.