BHP BILLITON LTD. ADRs $64 (New York symbol BHP; Conservative Growth Portfolio, Resources sector; ADRs outstanding: 2.7 billion; Market cap: $172.8 billion; Price-to-sales ratio: 2.6; Dividend yield: 3.7%; TSINetwork Rating: Average; www.bhpbilliton.com) produced a record 97.8 million tonnes of iron ore in the six months ended December 31, 2013, up 19.3% from a year earlier. That’s mainly due to the start-up of its 85%-owned Jimblebar mine in Western Australia. BHP still expects to produce 192 million tonnes of iron ore for its full 2014 fiscal year.
The company also produced more metallurgical coal (up 21.9%), alumina (up 8.4%) and copper (up 6.2%). As well, new onshore oil wells in the U.S. pushed up its oil output by 6.3%. However, natural gas production fell 6.7% as BHP shifts its focus to its more profitable oil operations.
BHP Billiton is a buy.