BHP eyes big expansion

Article Excerpt

BHP BILLITON LTD. ADRs $90 (New York symbol BHP; Conservative Growth Portfolio, Resources sector; ADRs outstanding: 2.7 billion; Market cap: $243.0 billion; Price-to-sales ratio: 3.6; Dividend yield: 2.0%; TSINetwork Rating: Average; www.bhpbilliton.com) plans to spend $80 billion over the next five years on several new growth projects. For example, it plans to expand its Australian iron-ore and coal mines, build new oil and natural-gas projects in Australia, and build a new potash mine in Saskatchewan. However, these projects will only be successful if BHP can increase its sales to China and other Asian countries, which is far from certain. BHP Billiton is still a hold. hold…