BHP to cut FY16 capex to $US8.5 bln

BHP Billiton plc (NYSE:BBL): According to 2 Analysts, The short term target price has been estimated at $ 39.The target price could deviate by a maximum of $1.41 from the forecast price.

Shares of BHP Billiton plc (NYSE:BBL) rose by 2.3% in the past week and 2.36% for the last 4 weeks.

In related news, insider Brinded, Malcolm purchased 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st.

MELBOURNE, Sept 23 BHP Billiton confirmed on Wednesday it paid no tax on its global marketing base in Singapore, but said it was not the only reason for using the island state as a commodities trading hub and that it paid a fair share of tax worldwide. Deutsche Bank reaffirmed a hold rating on shares of BHP Billiton plc in a report on Tuesday, September 8th.

Chief Executive Officer Andrew Mackenzie received salary and incentive payments of $4.58 million in the 12 months to June 30, down from $7.98 million a year earlier, Melbourne-based BHP said Wednesday in its annual report. Zacks raised shares of BHP Billiton plc from a strong sell rating to a hold rating in a report on Thursday, September 10th.

A number of other brokerages have also recently commented on BLT. The firm has a 50-day moving average price of GBX 1,101.85 and a 200-day moving average price of GBX 1,284.45. The company has a consensus rating of Hold and an average target price of GBX 1,356.17 ($21.06).

Shares of BHP Billiton plc (LON:BLT) opened at 1021.50 on Friday. The company has a market cap of 54.92 billion GBP and a P/E ratio of 24.82.

“The increasing interest in hybrid capital by global debt investors combined with the relatively low interest rate environment make this an opportune time for BHP Billiton to consider hybrid capital instruments”, the company said in a filing to the ASX. The Business mines, extracts and create coal, aluminum, copper, iron ore, manganese, nickel, silver and uranium, and oil and gas. The Business process minerals and infusions, and gas and oil from its production operations found principally in Australia, the Americas and Southern Africa. BHP in August reported an 86 per cent drop in net profit to $US1.9 billion amid falling iron ore, copper, coal and petroleum prices. The Petroleum and Potash Business of the Firm consists of standard and non- a project that is potash as well as conventional operations. The Copper company of the Company produces copper and related ores and minerals. Iron ore is produced by the Company’s Iron ore company. The coal company of the Company produces multiple variants of coal. The Aluminum, Manganese and Nickel company of the Company is a producer of nickel, manganese and aluminum.