Shares of BHP Billiton Ltd. (NYSE:BHP) dropped 2.2% on Friday . The company traded as low as $30.82 and last traded at $30.85, with a volume of 1,822,970 shares traded. The stock had previously closed at $31.55.

BHP has been the subject of a number of recent analyst reports. Bank of America Corp. upgraded BHP Billiton from a “neutral” rating to a “buy” rating in a report on Monday, April 18th. Zacks Investment Research downgraded BHP Billiton from a “hold” rating to a “sell” rating in a report on Thursday, April 21st. Citigroup Inc. reiterated a “neutral” rating on shares of BHP Billiton in a report on Tuesday, June 7th. Vetr upgraded BHP Billiton from a “hold” rating to a “strong-buy” rating and set a $35.33 price target for the company in a report on Monday, April 25th. Finally, Sanford C. Bernstein reiterated a “market weight” rating on shares of BHP Billiton in a report on Friday, May 13th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $27.76.

The company has a 50-day moving average of $29.42 and a 200-day moving average of $27.15. The stock’s market cap is $82.41 billion.

Other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of BHP Billiton by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,194,219 shares of the mining company’s stock valued at $82,283,000 after buying an additional 158,114 shares during the period. Bridgewater Associates LP increased its position in shares of BHP Billiton by 30.3% in the fourth quarter. Bridgewater Associates LP now owns 417,111 shares of the mining company’s stock valued at $10,745,000 after buying an additional 97,100 shares during the period. Eaton Vance Management increased its position in shares of BHP Billiton by 18.9% in the fourth quarter. Eaton Vance Management now owns 291,510 shares of the mining company’s stock valued at $7,509,000 after buying an additional 46,388 shares during the period. Autus Asset Management LLC purchased a new position in shares of BHP Billiton during the fourth quarter valued at approximately $1,194,000. Finally, Bank of Montreal Can increased its position in shares of BHP Billiton by 35.6% in the fourth quarter. Bank of Montreal Can now owns 102,296 shares of the mining company’s stock valued at $2,635,000 after buying an additional 26,842 shares during the period.

BHP Billiton Limited is a global resources company. 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. It is also engaged in exploration, development, production and marketing of conventional and unconventional oil and gas.

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