BHP Billiton rejected a proposal by billionaire Paul Elliott Singer's hedge fund to overhaul its business, setting up further clashes between the world's largest miner and an investor with a record of protracted disputes with companies.
BHP shares jumped from $24.82 at around 3.30pm to close 4.6% higher at $25.73.
The business also recently declared a semiannual dividend, which was paid on Tuesday, March 28th. Dimensional Fund Advisors LP now owns 2,096,424 shares of the mining company's stock valued at $53,207,000 after buying an additional 382,623 shares during the period.
On 8/20/2014 BHP Billiton plc announced a semiannual dividend of $1.24 3.57% with an ex dividend date of 9/3/2014 which will be payable on 9/23/2014.
"This letter is saying, maybe indirectly, that 'you guys aren't managing the company properly,"' said Wayne McCurrie, a fund manager in Johannesburg at Ashburton Investment Management Co., which owns BHP shares.
The DLC structure means the two companies operates as if they were a single economic enterprise, with a single management and board, while remaining separate legal entities. Buy rating has been given by 1 analysts to the company stock whereas no analyst given UNDERPERFORM rating to stock and 1 analyst given HOLD rating.
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Its investors include pension plans, sovereign wealth funds and hospitals, among others, it said.
According to the latest research reports released, 2 analysts have issued a rating of "buy", 1 analysts "outperform", 1 analysts "hold", 0 analysts "underperform" and 0 analysts "sell". If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & global copyright & trademark law. Jefferies has "Buy" rating and GBX 1300 target. Moreover, Prescott Group Capital Management L.L.C. has 0.07% invested in the company for 290,123 shares. The original version of this piece of content can be read at https://www.com-unik.info/2017/04/11/bhp-billiton-plc-blt-given-consensus-recommendation-of-hold-by-brokerages.html.
BHP Billiton Limited (BHP) belongs to the "Basic Materials" sector with an industry focus on "Industrial Metals & Minerals", with Dr. Andrew Mackenzie B.Sc. (Geology), Ph.D.(Chemistry) as Chief Exec. Officer and Non-Independent Director. Barclays Capital downgraded the shares of BHP in report on Tuesday, January 12 to "Underweight" rating.
06/21/2016 - BHP Billiton plc had its "underweight" rating reiterated by analysts at JP Morgan. Surging prices of iron ore to coking coal have delivered a profit bonanza after dividends were slashed and assets sold to bolster balance sheets.
BHP Billiton shares bolted higher yesterday (taking the wider market up by almost three quarters of a per cent) after a hedge fund released a letter it had sent to the board urging the company to spin off its some of its petroleum business and list it on stockmarket. The Petroleum segment is engaged in the exploration, development and production of oil and gas.