BHP Group (NYSE:BHP) Upgraded at Zacks Research

BHP Group (NYSE:BHP) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of BHP Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Berenberg Bank raised BHP Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Citigroup restated a “neutral” rating on shares of BHP Group in a report on Monday, June 8th. DZ Bank raised BHP Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, The Goldman Sachs Group upgraded BHP Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $69.50.

BHP Group Stock Performance

Shares of BHP Group stock opened at $80.66 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.28 and a current ratio of 1.65. BHP Group has a 52-week low of $46.42 and a 52-week high of $93.83. The company’s 50 day moving average price is $84.69 and its 200-day moving average price is $74.36.

Institutional Investors Weigh In On BHP Group

A number of large investors have recently modified their holdings of BHP. Paradigm Asset Management Co. LLC purchased a new position in shares of BHP Group during the 3rd quarter worth approximately $1,345,000. Abbington Investment Group raised its position in shares of BHP Group by 45.6% in the 4th quarter. Abbington Investment Group now owns 69,288 shares of the mining company’s stock worth $4,183,000 after acquiring an additional 21,700 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of BHP Group by 1.3% in the 3rd quarter. Fisher Asset Management LLC now owns 23,149,649 shares of the mining company’s stock valued at $1,290,593,000 after purchasing an additional 307,397 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of BHP Group by 1,769.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 464,133 shares of the mining company’s stock valued at $25,875,000 after purchasing an additional 439,304 shares during the period. Finally, AlphaCore Capital LLC boosted its position in shares of BHP Group by 1,782.2% during the third quarter. AlphaCore Capital LLC now owns 17,335 shares of the mining company’s stock valued at $966,000 after purchasing an additional 16,414 shares in the last quarter. Institutional investors own 3.79% of the company’s stock.

About BHP Group

BHP Group is an Anglo-Australian natural resources company engaged principally in the exploration, development, production and marketing of commodities. Its core businesses include the extraction and processing of iron ore, copper, metallurgical and thermal coal, nickel and other minerals. BHP operates large-scale mining and processing assets and supplies raw materials used across steelmaking, energy and industrial supply chains.

The company has a global operating footprint with significant assets and projects in Australia and the Americas, and commercial activities that serve customers worldwide.