Shares of BHP Billiton Limited (ASX: BHP) have been crushed again today.
In what has been a very broad selloff for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO), which is down 2.2% late in the afternoon, BHP Billiton's shares have fallen 3.2%. They're now fetching just $23.86 and are down more than 6% over the last five trading days.
Source: Google Finance
Although BHP Billiton's shares might seem like a tempting proposition today – especially with their 7.3% fully franked dividend yield – investors need to keep in mind the strong headwinds facing the resources industry as a whole.
Not only have commodities such as iron ore and oil crashed in price over the last year or so, they are expected to continue doing so for the foreseeable future. This could have a negative impact on the miner's share price, thus offsetting any potential gains from dividend income.
As such, BHP Billiton does not appear to present as a compelling buying opportunity today.