BHP Billiton and Glencore are being upgraded by some analysts on expectations that both these diversified miners will benefit this year from balanced global growth and the shares’ discount to their peers. Barclays Capital has raised its target price for Billiton to £16.50 and Glencore to £4.50. Macquarie says it prefers BHP Billiton and Glencore over South32 or Anglo American, in an early January report written when Billiton was at £15.62 (about R260) and Glencore at £3.91 (about R65). Since then Billiton’s shares have lifted to £16.20 and Glencore’s to £4.08. Macquarie’s targets are £17.10 for Billiton and £4.18 for Glencore. Billiton’s shares more than halved between November 2015 and January 2016 after two waste-water dams at the jointly owned Samarco iron-ore mine in Brazil burst, killing 19 people and causing widespread damage.Though a settlement of tens of billions of dollars of claims is still under discussion, the share price has recovered on better sentiment towards miners ...

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