Zacks Investment Research cut shares of BHP Billiton (NYSE:BHP) from a buy rating to a hold rating in a report published on Tuesday morning.

According to Zacks, “Over the last six months, BHP Billiton's shares have outperformed the industry. The company reported robust copper productivity in first-quarter fiscal 2018. For fiscal 2018, iron ore output guidance has been reaffirmed within the range of 239-243 million tons (Mt), estimating a year-over- year upside of 3-5%. We believe that stronger mining productivity will lower operating costs of the company going forward. However, declining iron ore prices might be issue for the company and dent its revenues and profitability. Also, the company's sensitiveness to environmental hazards such as natural disasters and abnormal rainfall as well as an oversupply situation in the mining market might be concerning.”

Other analysts have also issued reports about the stock. ValuEngine lowered shares of BHP Billiton from a buy rating to a hold rating in a research report on Friday, September 22nd. BidaskClub raised shares of BHP Billiton from a buy rating to a strong-buy rating in a research report on Saturday, August 26th. Royal Bank of Canada lowered shares of BHP Billiton from a sector perform rating to an underperform rating in a research report on Thursday, August 31st. They noted that the move was a valuation call. Cowen set a $43.00 price target on shares of BHP Billiton and gave the stock a hold rating in a research report on Thursday, August 24th. Finally, BNP Paribas lowered shares of BHP Billiton from a neutral rating to an underperform rating in a research report on Wednesday, September 6th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. BHP Billiton currently has a consensus rating of Hold and a consensus target price of $36.52.

Shares of BHP Billiton (BHP) opened at $43.08 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.53. BHP Billiton has a 1 year low of $33.37 and a 1 year high of $44.62.

Institutional investors and hedge funds have recently modified their holdings of the company. Knowledge Leaders Capital LLC bought a new position in shares of BHP Billiton in the third quarter valued at about $134,000. Acrospire Investment Management LLC raised its position in shares of BHP Billiton by 127.3% in the second quarter. Acrospire Investment Management LLC now owns 4,285 shares of the mining company’s stock valued at $153,000 after purchasing an additional 2,400 shares during the period. Proficio Capital Partners LLC raised its position in shares of BHP Billiton by 22.1% in the second quarter. Proficio Capital Partners LLC now owns 3,825 shares of the mining company’s stock valued at $157,000 after purchasing an additional 692 shares during the period. Toronto Dominion Bank raised its position in shares of BHP Billiton by 7.9% in the second quarter. Toronto Dominion Bank now owns 5,037 shares of the mining company’s stock valued at $180,000 after purchasing an additional 368 shares during the period. Finally, Sicart Associates LLC bought a new position in shares of BHP Billiton in the third quarter valued at about $203,000. 3.27% of the stock is currently owned by institutional investors.

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BHP Billiton Company Profile

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.

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