Tuesday, July 6, 2010

BHP Billiton (NYSE:BHP) Upgraded, Up on Day

BHP Billiton (NYSE:BHP) was upgraded by a couple of companies yesterday, as copper supply appears to be shrinking, and when demand picks up, they and other copper producers will benefit strongly from it.

Raising their outlooks on BHP were Independent Research GmbH and Evolution Securities.

Evolution raised BHP's rating from "Add" to "Buy," while Independent Research GmbH raised their outlook on BHP from "Hold" to "Buy."

At 1:19 PM EDT, the miner was at $64.38, up $1.67 or 2.66%. Other miners like Teck Resources (NYSE:TCK) and Rio Tinto (NYSE:RTP) were also up today on similar copper supply news.

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