[Ferro-Alloys.com] Zacks Investment Research upgraded shares of BHP Billiton plc (NYSE:BBL) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, Analyst Ratings.Net reports.

According to Zacks, “Billiton is one of the world’s major resource groups. It is one of the world’s largest producers of aluminum, the world’s largest exporter of thermal coal and has a controlling interest in the world’s leading integrated producer of ferrochrome and ferromanganese. The company also has a 50 percent interest in Richard Bay Minerals, the world’s largest producer of titanium dioxide slag. “

Shares of BHP Billiton plc (NYSE:BBL) opened at 21.53 on Tuesday. BHP Billiton plc has a 12-month low of $16.36 and a 12-month high of $49.70. The stock’s market cap is $57.29 billion. The stock has a 50 day moving average price of $22.35 and a 200-day moving average price of $24.83.

The company also recently declared a dividend, which was paid on Thursday, March 31st. Investors of record on Friday, March 11th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, March 9th.

Other hedge funds recently made changes to their positions in the company. Carroll Financial Associates bought a new stake in shares of BHP Billiton plc during the fourth quarter valued at approximately $0. Comerica Bank raised its stake in shares of BHP Billiton plc by 4.8% in the fourth quarter. Comerica Bank now owns 56,870 shares of the mining company’s stock valued at $1,079,000 after buying an additional 2,596 shares in the last quarter. Oaktree Capital Management LP bought a new stake in shares of BHP Billiton plc during the fourth quarter valued at approximately $1,402,000. Massachusetts Financial Services Co. MA bought a new stake in shares of BHP Billiton plc during the fourth quarter valued at approximately $1,802,000. Finally, Advisors Asset Management Inc. raised its stake in shares of BHP Billiton plc by 20.9% in the fourth quarter. Advisors Asset Management Inc. now owns 85,518 shares of the mining company’s stock valued at $1,937,000 after buying an additional 14,764 shares in the last quarter.

BBL has been the subject of a number of other reports. Morgan Stanley restated an overweight rating on shares of BHP Billiton plc in a report on Tuesday, March 15th. Jefferies Group cut shares of BHP Billiton plc from a buy rating to a hold rating in a report on Wednesday, March 9th. They noted that the move was a valuation call. Beaufort Securities restated a hold rating on shares of BHP Billiton plc in a report on Friday, March 4th. Deutsche Bank reiterated a hold rating on shares of BHP Billiton plc in a report on Monday, March 28th. Finally, JPMorgan Chase & Co. reiterated a neutral rating on shares of BHP Billiton plc in a report on Monday, March 28th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. BHP Billiton plc has a consensus rating of Hold and a consensus price target of $21.00.

BHP Billiton Plc is engaged in exploration, development, production, processing and marketing of minerals, in respect of iron ore, metallurgical and energy coal, copper, aluminum, manganese, uranium, nickel, silver and potash, and exploration, development, production and marketing of conventional and unconventional oil and gas.

 

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