BHP Billiton Ltd. (NYSE:BHP) shares shot up 1.6% on Tuesday . The company traded as high as $32.08 and last traded at $31.71, with a volume of 2,342,652 shares trading hands. The stock had previously closed at $31.20.

A number of research firms have recently weighed in on BHP. Bank of America Corp. reissued a “buy” rating on shares of BHP Billiton in a research note on Tuesday. Macquarie raised BHP Billiton from an “underperform” rating to a “neutral” rating in a research note on Tuesday. Zacks Investment Research downgraded BHP Billiton from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. JPMorgan Chase & Co. raised BHP Billiton from an “underweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. Finally, Citigroup Inc. reissued a “neutral” rating on shares of BHP Billiton in a research note on Tuesday, June 7th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $27.76.

The firm’s 50-day moving average is $29.53 and its 200 day moving average is $27.30. The company’s market capitalization is $83.82 billion.

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its position in 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 last quarter. Eaton Vance Management raised its position in 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 last quarter. Dimensional Fund Advisors LP raised its position in 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 last quarter. Bridgewater Associates LP raised its position in 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 last quarter. Finally, Autus Asset Management LLC purchased a new position in BHP Billiton during the fourth quarter valued at about $1,194,000.

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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