BHP to spend US$277m to modernise Australian copper smelter

Thursday, 20 Jul, 2017

BHP Billiton Limited (BHP) traded up 0.58% during midday trading on Wednesday, reaching $39.66. Hedge funds and other institutional investors own 2.99% of the company's stock. BHP Billiton Ltd., the world's biggest mining company, stated fourth-quarter iron ore output rose 8 percent on capacity additions and supply chain improvements. Institutional investors and hedge funds own 2.99% of the company's stock. Renaissance Technologies LLC acquired a new stake in BHP Billiton PLC during the fourth quarter worth $720,000. Capstone Asset Management Co. increased its position in shares of BHP Billiton Limited by 12.5% in the first quarter. CENTRAL TRUST Co now owns 5,668 shares of the mining company's stock worth $201,000 after buying an additional 85 shares during the last quarter. Finally, Narwhal Capital Management raised its stake in BHP Billiton Limited by 3.4% in the second quarter. First Financial Corp IN now owns 10,887 shares of the mining company's stock worth $387,000 after buying an additional 387 shares during the period. The company has a market capitalization of $91.22 billion, a PE ratio of 36.78 and a beta of 1.02.

BHP's overall gas production in the April-June 2017 quarter was 6% lower year-on-year at167bn ft (1.84bn ft/d). The stock has a 50 day moving average of GBX 1,181.98 and a 200 day moving average of GBX 1,279.78. Goldman Sachs Grp holds 0.01% of its portfolio in Superior Energy Services, Inc. West Coast Financial LLC's holdings in BHP Billiton Limited were worth $234,000 at the end of the most recent reporting period. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of United States & worldwide copyright and trademark laws. The legal version of this article can be viewed at

Australian Foundation most recently reported holding roughly 14,000 of BHP's Australia-listed shares worth $275 million, representing a 0.44% stake in the company, according to FactSet Research Systems Inc.

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Among 2 analysts covering BHP Billiton (NYSE:BBL), 1 have Buy rating, 0 Sell and 1 Hold. The stock of BHP Billiton plc (LON:BLT) has "Hold" rating given on Monday, August 15 by Deutsche Bank. Citigroup Inc. raised BHP Billiton Limited from a "neutral" rating to a "buy" rating in a report on Wednesday, April 26th. Barclays Capital maintained the shares of BHP in report on Wednesday, July 22 with "Overweight" rating. BHP Billiton Limited now has an average rating of "Hold" and an average target price of $34.81.

BHP Billiton has announced an investment of A$350 ($277m) to enhance and modernize the smelter operations at its Olympic Dam copper mine in South Australia.

"Whilst the company expects a turnaround in its key copper unit, driven by Escondida, the weaker outlook for the United States onshore division in FY18 will likely be a focus of investor pushback", Royal Bank of Canada analyst Paul Hissey said.