Citigroup Downgrades Rating On BHP Billiton Limited (BHP) To "Neutral"

BHP hit lower end of revised full-year guidance by producing 231 million tonnes of iron ore

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Australia-based mining group BHP Billiton has reported a 10% decline in natural gas production in the 12-month period from July 2016 to June 2017 to 668bn ft (1.83bn ft/d), mainly due to a decline in USA shale gas production, but also because of the divestment of Pakistan upstream gas business.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. V Wealth Management LLC bought a new position in BHP Billiton Limited during the second quarter worth $133,000. 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. Capstone Asset Management Co. boosted its stake in shares of BHP Billiton PLC by 12.7% in the first 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 last quarter. The institutional investor purchased 3,700 shares of the mining company's stock, valued at approximately $133,000. BHP Billiton PLC earned a media sentiment score of 0.06 on Accern's scale.

Shares in the FTSE 100 firm were down 0.11 per cent to 1,311p in morning trading. The company has market cap of $99.90 billion.

BHP expects full year copper output for 2018 to recover by 25-35% overall as Escondida expansion plans push production at the mine to between 1.13m-1.23m tonnes. The firm has a 50-day moving average price of GBX 1,207.87 and a 200-day moving average price of GBX 1,276.45.

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COPYRIGHT VIOLATION NOTICE: This news story was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of USA & global copyright legislation. The original version of this piece can be accessed at https://www.chaffeybreeze.com/2017/07/19/bhp-billiton-plc-lonblt-stock-rating-reaffirmed-by-shore-capital.html. The stock of BHP Billiton Limited (ADR) (NYSE:BHP) has "Buy" rating given on Tuesday, August 30 by Argus Research. Finally, BidaskClub downgraded BHP Billiton Limited from a "hold" rating to a "sell" rating in a report on Saturday, June 17th. Jefferies Group LLC set a $37.00 price objective on shares of BHP Billiton PLC and gave the company a "buy" rating in a research report on Friday, May 19th.

The extra spending on the division is an example of how BHP wants to prove the potential in its shale assets before selling them, amid calls from shareholders for the assets to be sold or demerged. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. On Monday, July 10 the stock rating was maintained by Jefferies with "Hold".

The mining giant, still reeling from the fallout from the Samarco dam collapse in Brazil, today said that while iron-ore production rose 4% in the past year, copper fell by 16%. The Business's 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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