Manikay Partners LLC Has Cut Its Stake in Bhp Billiton Plc (BBL) as Valuation Declined

September 17, 2017 - By Winifred Garcia

Shane Finemore decreased its stake in Bhp Billiton Plc (BBL) by 42.34% based on its latest 2016Q4 regulatory filing with the SEC. Manikay Partners Llc sold 418,700 shares as the company’s stock declined 8.96% while stock markets rallied. The hedge fund run by Shane Finemore held 570,300 shares of the coal mining company at the end of 2016Q4, valued at $17.94M, down from 989,000 at the end of the previous reported quarter. Manikay Partners Llc who had been investing in Bhp Billiton Plc for a number of months, seems to be less bullish one the $106.92B market cap company. The stock decreased 1.79% or $0.66 on September 15, reaching $36.21. About 1.63M shares traded. BHP Billiton plc (ADR) (NYSE:BBL) has risen 31.15% since September 17, 2016 and is uptrending. It has outperformed by 14.45% the S&P500.

More news for BHP Billiton plc (ADR) (NYSE:BBL) were recently published by: 247Wallst.com, which released: “Why One Analyst Sees Value and More Upside for Rio Tinto and BHP Billiton” on December 01, 2016. Benzinga.com‘s article titled: “Investors Can Buy Shares Of BHP Billiton Plc Or BHP Billiton Ltd.: What Is The …” and published on August 24, 2016 is yet another important article.

BHP Billiton plc (ADR) (NYSE:BBL) Ratings Coverage

Among 2 analysts covering BHP Billiton (NYSE:BBL), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. BHP Billiton has $38.0 highest and $3200 lowest target. $38’s average target is 4.94% above currents $36.21 stock price. BHP Billiton had 7 analyst reports since August 23, 2016 according to SRatingsIntel. The stock of BHP Billiton plc (ADR) (NYSE:BBL) has “Hold” rating given on Thursday, June 8 by Jefferies. Jefferies maintained the stock with “Hold” rating in Monday, July 10 report. The rating was maintained by Citigroup with “Buy” on Wednesday, April 12. The firm has “Buy” rating given on Wednesday, August 23 by Jefferies. The stock of BHP Billiton plc (ADR) (NYSE:BBL) earned “Hold” rating by Jefferies on Thursday, August 17. The stock has “Hold” rating by Jefferies on Thursday, August 31. The rating was upgraded by Jefferies on Tuesday, August 23 to “Buy”.

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