BHP Group (NYSE:BHP) Downgraded by Berenberg Bank

Berenberg Bank downgraded shares of BHP Group (NYSE:BHP) from a buy rating to a hold rating in a research report report published on Monday, The Fly reports.

A number of other brokerages have also recently weighed in on BHP. BNP Paribas raised BHP Group from an underperform rating to a neutral rating in a research note on Friday, June 4th. Zacks Investment Research cut BHP Group from a buy rating to a hold rating and set a $67.00 price target on the stock. in a research note on Monday, August 23rd. BMO Capital Markets raised BHP Group from a market perform rating to an outperform rating in a research note on Wednesday, June 30th. Royal Bank of Canada restated an outperform rating on shares of BHP Group in a research report on Wednesday, August 18th. Finally, Morgan Stanley upgraded BHP Group from an equal weight rating to an overweight rating in a research report on Tuesday, June 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, BHP Group presently has an average rating of Hold and a consensus price target of $768.67.

Shares of BHP opened at $55.05 on Monday. The business’s 50-day moving average price is $68.60 and its 200 day moving average price is $71.81. The stock has a market capitalization of $81.08 billion, a P/E ratio of 8.17, a P/E/G ratio of 1.58 and a beta of 0.90. BHP Group has a 1-year low of $46.90 and a 1-year high of $82.07. The company has a current ratio of 1.63, a quick ratio of 1.36 and a debt-to-equity ratio of 0.33.

The company also recently declared a semi-annual dividend, which was paid on Tuesday, September 21st. Stockholders of record on Friday, September 3rd were issued a dividend of $4.00 per share. This represents a dividend yield of 9.6%. This is a positive change from BHP Group’s previous semi-annual dividend of $2.02. The ex-dividend date was Thursday, September 2nd. BHP Group’s payout ratio is currently 118.69%.

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of BHP Group by 63.4% in the 2nd quarter. Bank of America Corp DE now owns 16,175,968 shares of the mining company’s stock valued at $1,178,095,000 after acquiring an additional 6,277,566 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of BHP Group by 2.3% in the 2nd quarter. Fisher Asset Management LLC now owns 8,169,038 shares of the mining company’s stock valued at $594,951,000 after acquiring an additional 187,439 shares in the last quarter. Citigroup Inc. raised its stake in shares of BHP Group by 3.0% in the 2nd quarter. Citigroup Inc. now owns 2,610,900 shares of the mining company’s stock valued at $190,152,000 after acquiring an additional 75,872 shares in the last quarter. Morgan Stanley raised its stake in shares of BHP Group by 75.8% in the 2nd quarter. Morgan Stanley now owns 1,867,717 shares of the mining company’s stock valued at $136,025,000 after acquiring an additional 805,136 shares in the last quarter. Finally, Northern Trust Corp increased its position in BHP Group by 27.7% in the 1st quarter. Northern Trust Corp now owns 1,866,160 shares of the mining company’s stock worth $129,493,000 after buying an additional 404,952 shares during the period. Institutional investors and hedge funds own 5.62% of the company’s stock.

About BHP Group

BHP Group Ltd. engages in the exploration, development, production and processing of iron ore, metallurgical coal and copper. It operates through the following segments: Petroleum, Copper, Iron Ore and Coal. The Petroleum segment explores, develops and produces oil and gas. The Copper segment refers to the mining of copper, silver, lead, zinc, molybdenum, uranium and gold.

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