Analysts Set BHP Group Limited Sponsored ADR (NYSE:BHP) Target Price at $78.00

Shares of BHP Group Limited Sponsored ADR (NYSE:BHP) have been given an average rating of “Hold” by the ten research firms that are presently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $78.00.

BHP has been the topic of a number of research reports. Zacks Research downgraded shares of BHP Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. DZ Bank raised shares of BHP Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Weiss Ratings upgraded shares of BHP Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of BHP Group in a research report on Thursday, July 2nd. Finally, Wall Street Zen cut BHP Group from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd.

Institutional Investors Weigh In On BHP Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Main Street Research LLC acquired a new position in shares of BHP Group in the first quarter worth about $37,767,000. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of BHP Group during the first quarter valued at approximately $18,591,000. Icon Advisers Inc. Co. raised its holdings in shares of BHP Group by 47.5% during the first quarter. Icon Advisers Inc. Co. now owns 59,000 shares of the mining company’s stock valued at $4,292,000 after acquiring an additional 19,000 shares during the period. Himension Capital Singapore PTE. LTD. acquired a new stake in shares of BHP Group during the first quarter valued at approximately $1,705,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of BHP Group by 36.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 113,707 shares of the mining company’s stock valued at $8,271,000 after acquiring an additional 30,294 shares in the last quarter. 3.79% of the stock is owned by institutional investors and hedge funds.

BHP Group Price Performance

Shares of NYSE BHP opened at $86.30 on Wednesday. BHP Group has a twelve month low of $51.83 and a twelve month high of $98.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.88 and a quick ratio of 1.48. The firm has a 50-day moving average of $88.34 and a two-hundred day moving average of $83.09.

BHP Group Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Friday, September 4th will be paid a dividend of $1.98 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a dividend yield of 438.0%.

About BHP Group

BHP Group Limited is a global resources company headquartered in Melbourne, Australia. The company explores, develops and produces commodities that support industrial activity, infrastructure and the energy transition, with operations and projects spanning Australia, Chile, Brazil and other regions.

BHP’s principal products include iron ore, copper and metallurgical coal. Its iron ore business operates primarily in Western Australia, while its copper portfolio includes major mining operations in Chile and the Olympic Dam complex in South Australia.