Ltd. and London-listed Billiton Plc. On a relative basis, the stock has outperformed the S&P 500 by 0.5% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
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Analysts meanwhile remain neutral on BHP in the run-up to the results, with Deutsche Bank reiterating its “hold” rating on the stock today, with a price target of 1,240p. However, the stock managed to close at $26.84, a loss of 2.19% for the day. Trade volume was was down over the average, with 382,016 shares of BLT changing hands under the typical 9,518,090 shares.
Shares in BHP Billiton are trading slightly higher as investors brace for what is expected to be one of the worst-ever annual results from the resources giant amid prolonged weakness in commodities prices. Finally, Canaccord Genuity upped their price target on BHP Billiton plc from GBX 850 ($11.22) to GBX 975 ($12.87) and gave the company a “hold” rating in a research report on Wednesday, July 27th. The Company is engaged in exploration, development, production, processing and marketing of minerals, such as iron ore, metallurgical and energy coal, copper, aluminum, manganese, uranium, nickel, silver and potash.
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Average iron ore prices declined 28 per cent year-on-year, while prices for copper and West Texas Intermediate crude oil were down 24 per cent and 36 per cent year on year. It is also engaged in exploration, development, production and marketing of conventional and unconventional gas and oil. The Iron Ore segment is engaged in mining of iron ore.
