BHP Group (NYSE:BHP) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of BHP Group (NYSE:BHP) from a buy rating to a strong-buy rating in a research report released on Tuesday.

BHP has been the subject of several other research reports. Jefferies Financial Group downgraded BHP Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $72.00 to $68.00 in a research report on Friday, October 4th. Sanford C. Bernstein upgraded shares of BHP Group from a “market perform” rating to an “outperform” rating in a research report on Monday, September 16th. Finally, Argus upgraded shares of BHP Group to a “strong-buy” rating in a report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.00.

BHP Group Price Performance

Shares of NYSE:BHP opened at $52.65 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.29 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average price is $56.28 and its two-hundred day moving average price is $56.21. BHP Group has a fifty-two week low of $50.90 and a fifty-two week high of $69.11.

Hedge Funds Weigh In On BHP Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHP. Fisher Asset Management LLC increased its stake in BHP Group by 3.0% in the 3rd quarter. Fisher Asset Management LLC now owns 21,944,876 shares of the mining company’s stock valued at $1,362,996,000 after buying an additional 633,290 shares during the last quarter. Wellington Management Group LLP grew its position in shares of BHP Group by 13.0% in the third quarter. Wellington Management Group LLP now owns 5,603,624 shares of the mining company’s stock valued at $348,041,000 after purchasing an additional 642,765 shares during the last quarter. Bank of Montreal Can grew its holdings in BHP Group by 532.2% in the 2nd quarter. Bank of Montreal Can now owns 2,353,268 shares of the mining company’s stock valued at $134,442,000 after buying an additional 1,981,008 shares in the last quarter. FMR LLC increased its position in BHP Group by 10.0% during the third quarter. FMR LLC now owns 1,434,417 shares of the mining company’s stock worth $89,092,000 after acquiring an additional 129,908 shares during the period. Finally, Westwood Global Investments LLC boosted its stake in shares of BHP Group by 4.4% in the second quarter. Westwood Global Investments LLC now owns 1,220,251 shares of the mining company’s stock valued at $69,664,000 after buying an additional 51,263 shares during the period. 3.79% of the stock is owned by institutional investors and hedge funds.

BHP Group Company Profile

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.