BHP Group Limited Sponsored ADR (NYSE:BHP) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of BHP Group Limited Sponsored ADR (NYSE:BHP) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $69.50.

BHP has been the subject of several recent research reports. Bank of America lowered their price target on shares of BHP Group from $93.00 to $91.00 and set a “neutral” rating for the company in a research note on Monday, June 22nd. Zacks Research upgraded BHP Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. The Goldman Sachs Group raised BHP Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Weiss Ratings restated a “hold (c)” rating on shares of BHP Group in a research report on Monday, April 20th. Finally, Wall Street Zen upgraded BHP Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BHP. AQR Capital Management LLC increased its stake in shares of BHP Group by 230.0% in the 1st quarter. AQR Capital Management LLC now owns 31,852 shares of the mining company’s stock worth $1,546,000 after acquiring an additional 22,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in BHP Group by 20.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,594 shares of the mining company’s stock worth $660,000 after acquiring an additional 2,331 shares in the last quarter. Invesco Ltd. grew its holdings in BHP Group by 99.6% in the second quarter. Invesco Ltd. now owns 12,506 shares of the mining company’s stock worth $601,000 after purchasing an additional 6,241 shares during the period. EverSource Wealth Advisors LLC grew its holdings in BHP Group by 173.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,774 shares of the mining company’s stock worth $182,000 after purchasing an additional 2,395 shares during the period. Finally, Guggenheim Capital LLC increased its stake in shares of BHP Group by 13.0% during the second quarter. Guggenheim Capital LLC now owns 16,692 shares of the mining company’s stock valued at $803,000 after purchasing an additional 1,917 shares in the last quarter. 3.79% of the stock is owned by hedge funds and other institutional investors.

BHP Group Stock Performance

Shares of NYSE BHP opened at $80.15 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.65 and a quick ratio of 1.28. The business has a 50-day moving average of $85.17 and a 200-day moving average of $75.81. BHP Group has a 12 month low of $49.23 and a 12 month high of $93.83.

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.