BHP Billiton plc (BLT)

23 Dec 2015 | Author: | No comments yet »

BHP Billiton Limited (BHP) Sees Large Increase in Short Interest.

Amtech Systems Inc. (ASYS) of the Technology sector performed below average on Thurs with a 7-day performance of 19.06% finishing the day at $5.81, down -0.17%. The benchmark remained on track to rise 2.3% for the week, which would be its best weekly gain in nearly a month. “The review will focus on the potentially very significant countermeasures the company is able to employ — and the willingness to employ such measures — to protect its credit metrics in the lower price environment” said Matthew Moore, senior credit officer at Moody’s, in a Friday statement. “Specifically, Moody’s will be reviewing the company’s ability to further reduce operating costs and capital expenditures, as well as its ability and willingness to reduce its ongoing dividends”.

They now have a GBX 740 ($11.15) price target on the stock. 12/16/2015 – BHP Billiton plc had its price target lowered by analysts at Deutsche Bank from GBX 1,300 ($19.59) to GBX 935 ($14.09). As of November 30th, there was short interest totalling 15,731,379 shares, a growth of 31.0% from the November 13th total of 12,013,252 shares, MarketBeat.Com reports.

Other ratings placed on review include the A2 senior unsecured ratings of WMC Finance (USA) Limited, the A3 subordinated note ratings of BHP Billiton Finance (USA) Limited and BHP Billiton Finance Limited, and the (P)A2 senior unsecured MTN programme rating of WMC Finance Ltd. The review was prompted by the precipitous decline and persistent weakness in commodity prices and follows the recent downward revisions of Moody’s oil and natural gas price assumptions on 15-December 2015 and Moody’s base metals and bulk commodity prices on 08-December 2015.

Moody’s does not expect commodity prices shift significantly in 2016 from the low levels observed in late 2015, which have touched multi-year lows for several commodities. BHP Billiton Limited (BHP) is performing below average with a weekly performance of -6.01% moving into this week with a quarterly performance of -31.73% and a 52 week low of 1.77%. For the calendar years 2016 and 2017, Moody’s current price assumptions for major commodities produced by BHP Billiton include: Brent crude averaging USD43 and USD48 per barrel; iron ore 62% Fe China averaging USD40 and USD45 per tonne (t); high quality metallurgical coal averaging USD80/t and USD85/t; and Copper averaging USD2.15 and USD2.35 per pound; respectively.

In Tokyo, the Nikkei Stock Average NIK, -1.90% jumped then swung nearly 2% lower after the Bank of Japan unexpectedly announced additional measures to its three-year old monetary easing program. Japanese stocks fell as the dollar was taken on a wild ride against the Japanese yen USDJPY, -0.87% after the BOJ’s moves, eventually pulling the greenback down more than 1% against its rival to ¥121.26.

Based on the current progressive dividend levels and the company’s capital expenditure guidance, Moody’s expects that this metric will not return to a more appropriate level for the rating over the next several years. Intermolecular, Inc. (IMI)’s monthly performance is 5.85%, profit margin -56.70% and for the upcoming day, Intermolecular, Inc. (IMI) is a good stock in the Semiconductor Equipment & Materials industry with an averaged analyst rating of 2.7 and EPS growth this year of -135.00% Weyco Group Inc. (WEYS) of the Consumer Goods sector closed Thurs. at $26.9 with a loss of -1.90%, trading at a volume of 7,378 shares.

Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. Counterbalancing the degradation in financial metrics is the global strength of BHP Billiton’s metals and mining portfolio and its substantial product and geographic diversity. The Company extracts and process minerals, and oil and gas from its production operations located primarily in Australia, the Americas and Southern Africa. The Company’s assets, operations and interests are separated into five business units, Petroleum and Potash, Copper, Iron ore, Coal and Aluminium, Manganese and Nickel. BHP Billiton’s liquidity remains solid, reflecting its large cash position of around USD6.8 billion at 30 June 2015 and the additional funds raised through its USD6.5 billion hybrid notes issuance in October 2015.

The company’s liquidity position also benefits from an undrawn USD6.0 billion revolving credit facility which expires in May 2020 and has a one year extension option. The above, combined with the company’s demonstrated track record of capital markets access during industry downturns, leads Moody’s to expect that the company’s debt maturities of around USD5.6 billion over FY16 and FY17 will be manageable. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. For ratings issued on a program, series or category/class of debt, this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series or category/class of debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody’s rating practices. For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity.

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