Jefferies Financial Group Has Lowered Expectations for BHP Group (NYSE:BHP) Stock Price

BHP Group (NYSE:BHP) had its target price dropped by equities researchers at Jefferies Financial Group from $57.00 to $53.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the mining company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 8.58% from the stock’s current price.

BHP has been the topic of several other reports. 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. StockNews.com raised BHP Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 26th. Finally, Argus raised BHP Group to a “strong-buy” rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

BHP Group Price Performance

NYSE BHP opened at $48.81 on Monday. The company has a 50-day moving average price of $52.32 and a 200-day moving average price of $54.75. BHP Group has a 52 week low of $48.54 and a 52 week high of $66.79. The company has a quick ratio of 1.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $123.77 billion, a P/E ratio of 10.56 and a beta of 0.95.

Hedge Funds Weigh In On BHP Group

Large investors have recently made changes to their positions in the business. Asset Dedication LLC raised its stake in BHP Group by 7,516.7% during the 2nd quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock valued at $26,000 after purchasing an additional 451 shares during the period. Eastern Bank purchased a new stake in BHP Group during the 3rd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in BHP Group during the 2nd quarter valued at approximately $27,000. Sound Income Strategies LLC lifted its holdings in shares of BHP Group by 124.6% in the third quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock worth $33,000 after buying an additional 294 shares in the last quarter. Finally, Versant Capital Management Inc bought a new position in shares of BHP Group during the fourth quarter worth $40,000. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

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.