BHP performing well despite recent controversy

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BHP Billiton Limited (ASX:BHP) is a multinational mining and petroleum company with headquarters in Melbourne, Australia. BHP Billiton’s key resource production include iron ore, coal, petroleum, copper, zinc, natural gas, nickel, potash, and uranium. Its Australian operations are based in Western Australia, Queensland, New South Wales, and South Australia. Its Americas operations are based in the United States, Canada, Brazil, Chile, Peru, and Colombia. Along with mining and petroleum operations, BHP Billiton also includes an independent marketing business.

Popular Newspaper, The Australian, listed BHP Billiton (ASX:BHP $27.89 AUD) as the number one stock to watch on the Australian stock exchange as of January 25, 2017. BHP opened at $27.52 and closed at $27.89. While the markets were open, stock prices reached as high as $27.95. BHP experienced an 88-cent price jump.

The Benito Rodrigues Dam collapsed on January 5, 2015 near an iron ore mine partly owned by BHP Billiton Limited. According to news sources, the dam led to the country’s worst environmental disaster and killed at least 19 people. BHP Billiton, along with other mining groups, paid a collective settlement of US $2.6B and the costs of a foundation to facilitate environmental clean-up.

After a year of terrible prices, the steady upward slope of BHP has investors and analysts taking a closer look at the stock. BHP’s growth should not come as a surprise. On January 18, 2017, BHP Billiton Limited hit a 52-week high. BHP’s rapid and remarkable growth, per analyst expert opinion, is due to an increase in industrialization and urbanization of developing nations. BHP stock—and the stock of other basic material companies—are expected to grow as they gain a foothold in emerging Asian markets.

With these stats, BHP Billiton seems promising to both investors and analysts. With rapid stock increases like this one, analysts look for momentum. Momentum, however, is hard to define with the precarious stock market. In the debate over BHP Billiton’s success, analysts will have to see whether Asian emerging markets and the new wave of industrialization and infrastructure building post-2008 recession will be enough to sustain its growth.

To learn more about BHP and other Australian companies, click here.

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