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.
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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