BHP Group (NYSE:BHP) Rating Increased to Strong-Buy 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 research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other brokerages have also recently commented on BHP. Citigroup reaffirmed a “neutral” rating on shares of BHP Group in a research note on Wednesday, August 20th. Weiss Ratings restated a “hold (c)” rating on shares of BHP Group in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BHP Group currently has an average rating of “Hold” and a consensus target price of $48.50.

BHP Group Trading Up 2.5%

NYSE BHP opened at $60.48 on Tuesday. BHP Group has a 12 month low of $39.73 and a 12 month high of $60.66. The stock has a 50-day simple moving average of $55.86 and a 200 day simple moving average of $53.34. The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On BHP Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fisher Asset Management LLC increased its holdings in BHP Group by 1.3% during the 3rd quarter. Fisher Asset Management LLC now owns 23,149,649 shares of the mining company’s stock worth $1,290,593,000 after purchasing an additional 307,397 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of BHP Group by 1.2% in the first quarter. Wellington Management Group LLP now owns 5,579,061 shares of the mining company’s stock valued at $270,808,000 after purchasing an additional 63,641 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of BHP Group by 43.0% during the first quarter. Goldman Sachs Group Inc. now owns 4,951,258 shares of the mining company’s stock worth $240,334,000 after buying an additional 1,490,012 shares during the period. Bank of America Corp DE grew its holdings in shares of BHP Group by 25.2% during the third quarter. Bank of America Corp DE now owns 3,465,421 shares of the mining company’s stock worth $193,197,000 after buying an additional 697,316 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of BHP Group by 5.3% during the third quarter. Northern Trust Corp now owns 2,443,560 shares of the mining company’s stock worth $136,228,000 after buying an additional 123,382 shares in the last quarter. 3.79% of the stock is currently owned by institutional investors and hedge funds.

About BHP Group

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.