BHP Group Limited Sponsored ADR (NYSE:BHP) Receives $56.00 Average Target Price from Analysts

BHP Group Limited Sponsored ADR (NYSE:BHP) has earned an average rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $56.00.

BHP has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of BHP Group in a research note on Wednesday, January 21st. Zacks Research upgraded BHP Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Finally, Argus raised BHP Group from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Tuesday, December 30th.

BHP Group Stock Performance

BHP Group stock opened at $69.13 on Tuesday. BHP Group has a 52-week low of $39.73 and a 52-week high of $74.98. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.11 and a current ratio of 1.46. The firm has a 50 day moving average price of $62.91 and a two-hundred day moving average price of $57.48.

Hedge Funds Weigh In On BHP Group

Several institutional investors have recently added to or reduced their stakes in the business. SIH Partners LLLP increased its stake in shares of BHP Group by 937.5% in the 3rd quarter. SIH Partners LLLP now owns 1,856,704 shares of the mining company’s stock valued at $103,511,000 after acquiring an additional 1,677,739 shares in the last quarter. Bank of America Corp DE boosted its stake in 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 acquiring an additional 697,316 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in BHP Group in the third quarter worth $27,234,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in BHP Group by 1,769.3% in the third 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 in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of BHP Group by 1.9% during the second quarter. Fisher Asset Management LLC now owns 22,842,252 shares of the mining company’s stock valued at $1,098,484,000 after purchasing an additional 429,330 shares during the period. 3.79% of the stock is owned by institutional investors and hedge funds.

BHP Group Company Profile

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.