BHP Group (NYSE:BHP) Upgraded by StockNews.com to “Strong-Buy” Rating

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

Several other analysts have also issued reports on BHP. Sanford C. Bernstein raised BHP Group from a “market perform” rating to an “outperform” rating in a report on Monday, September 16th. Jefferies Financial Group downgraded shares of BHP Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $72.00 to $68.00 in a report on Friday, October 4th. Finally, Argus raised 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 given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.00.

BHP Group Stock Performance

Shares of BHP stock opened at $51.19 on Tuesday. The company has a 50-day simple moving average of $56.39 and a 200 day simple moving average of $56.30. The company has a quick ratio of 1.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.38. BHP Group has a 52 week low of $50.90 and a 52 week high of $69.11.

Institutional Investors Weigh In On BHP Group

A number of hedge funds have recently modified their holdings of the stock. Bank of Montreal Can raised its holdings in BHP Group by 532.2% during 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 acquiring an additional 1,981,008 shares during the period. XY Capital Ltd boosted its position in shares of BHP Group by 503.6% during the 3rd quarter. XY Capital Ltd now owns 921,666 shares of the mining company’s stock valued at $57,245,000 after acquiring an additional 768,972 shares during the last quarter. Wellington Management Group LLP grew its stake in BHP Group by 13.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,603,624 shares of the mining company’s stock worth $348,041,000 after buying an additional 642,765 shares in the last quarter. Fisher Asset Management LLC grew its position in BHP Group by 3.0% in the third quarter. Fisher Asset Management LLC now owns 21,944,876 shares of the mining company’s stock worth $1,362,996,000 after acquiring an additional 633,290 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in shares of BHP Group during the 3rd quarter valued at about $33,458,000. Institutional investors own 3.79% of the company’s stock.

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.