Shareholders of BHP Billiton Limited (ASX: BHP) have endured another tough week with their shares having fallen 5.3% in value since peaking near $35.00 on Monday. The shares have since dropped to just $33.14 after sinking as low as $32.95 earlier in today's session.
The miner's shares have been under enormous pressure this year as a result of plunging iron ore prices. The stock has lost 12.8% of its value since the beginning of 2014, while it has dropped 16.7% since BHP released its annual results to the market in mid-August.
Although BHP Billiton's earnings are by no means immune to the plummeting commodity prices, the miner is far better equipped to cope with the lower price environment, thanks to its low cost base and high level of diversification.
At $33.14, the shares are certainly looking more appealing for long-term focused investors, although I would suggest the shares could fall further in the near-term as volatility in the sector remains high. In fact, some analysts are even suggesting the iron ore price could fall below US$60 in the near future, down from today's price of roughly US$75 a tonne.
As such, those who choose to wait on the sidelines for now may be given an even more attractive opportunity to buy at a later date.
