BHP Group (NYSE:BHP) Hits New 12-Month Low – Here’s Why

BHP Group Limited (NYSE:BHP) shares reached a new 52-week low on Monday . The stock traded as low as $48.73 and last traded at $48.75, with a volume of 363878 shares changing hands. The stock had previously closed at $49.21.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BHP. Argus upgraded shares of BHP Group to a “strong-buy” rating in a report on Thursday, September 19th. Jefferies Financial Group lowered shares of BHP Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $72.00 to $68.00 in a research note on Friday, October 4th. StockNews.com upgraded BHP Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein raised BHP Group from a “market perform” rating to an “outperform” rating in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, BHP Group presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

BHP Group Stock Performance

The business has a 50 day moving average of $53.06 and a 200-day moving average of $55.03. The company has a market capitalization of $124.07 billion, a P/E ratio of 10.59 and a beta of 0.95. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.29 and a current ratio of 1.70.

Institutional Investors Weigh In On BHP Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Eastern Bank bought a new stake in BHP Group during the 3rd quarter worth approximately $26,000. Asset Dedication LLC increased its holdings in shares of BHP Group by 7,516.7% in the second quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock worth $26,000 after purchasing an additional 451 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of BHP Group in the second quarter worth $27,000. Sound Income Strategies LLC boosted its stake in BHP Group by 124.6% during the third quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock valued at $33,000 after buying an additional 294 shares during the period. Finally, Addison Advisors LLC grew its position in BHP Group by 1,187.0% during the second quarter. Addison Advisors LLC now owns 592 shares of the mining company’s stock worth $34,000 after buying an additional 546 shares in the last quarter. 3.79% of the stock is owned by hedge funds and other institutional investors.

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.