Low oil prices have taken a huge toll on mining companies like BHP Billiton (BHP), but one analyst said the company has fared better than rivals like Glencore (GLCNF) and Anglo American (AAL). ‘Apart from the likes of BHP and Rio Tinto (RIO), we don’t think it’s worth holding onto some of the other companies, such as Glencore and Anglo American because those companies didn’t manage their debts too well,’ said Helal Miah, an investment research analyst at The Share Centre, based in the UK. ‘They were overly indebted, whereas BHP and Rio seem to be better positioned and didn’t take out excessive amounts of debt.’ Miah said he’s relatively comfortable holding onto BHP, though it will take time for the company to recover. Oil prices have lost some 46% over the past 12 months. Shares of BHP fell 53.3% over the past year. The company posted a loss of $5.67 billion for the last half of 2015 and cut its dividend by 75%. TheStreet’s Scott Gamm has details from New York.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
