Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, August 22, 2014

Article Excerpt

BHP BILLITON LTD. ADRs, $69.71, New York symbol BHP, is the world’s largest mining company, with major operations in Australia, South Africa, Chile, the U.K. and North America. This week, BHP announced that it will spin off some of its operations as a separate Australia-based firm. This unnamed company will hold BHP’s aluminum, manganese, nickel and silver operations, as well as some of its coal mines. BHP did not reveal the details of the spinoff. However, the new company’s shares will mainly trade on the Australian Securities Exchange. Its American Depositary Receipts (ADRs) will trade on the over-the-counter market in the U.S. The new firm will have an initial market cap (or the value of all outstanding shares) of around $12 billion. That’s equal to 7% of BHP’s current $182.7-billion market cap. After the spinoff, BHP will focus on 19 properties in eight countries, down from the current 41 projects in 13 nations. These 19 properties, which include seven joint ventures, produce four main…