BHP Billiton’s share price closed Sydney trade today at $15.01. That’s the lowest close since 2004 as the company grapples with collapsing commodity prices and general questions about the maintenance of its dividend payout policy.
But some believe things could get a lot worse. Reuters says the analysts at Barclays have cut the target price for BHP from $19.25 a share to just $10.50.
Shares listed on the London and Johannesburg exchanges have been cut in accordance with this move to 515p and 120 Rand respectively.
Reuters is reporting that other miners, such as BHP spinoff South32, Rio Tinto and Brazil’s Vale have also had their target prices cut as Barclays overhauls its targets for the sector.
To put this new target into perspective here’s a chart of the BHP share price for the past 20 years.
