BHP Group (NYSE:BHP) Cut to “Buy” at StockNews.com

StockNews.com cut shares of BHP Group (NYSE:BHP) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

Separately, Jefferies Financial Group reduced their price objective on BHP Group from $57.00 to $53.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, BHP Group currently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

BHP Group Price Performance

Shares of BHP stock opened at $50.06 on Friday. 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 12-month low of $48.06 and a 12-month high of $63.21. The stock’s 50-day moving average price is $50.87 and its 200-day moving average price is $54.17.

Institutional Investors Weigh In On BHP Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eastern Bank purchased a new position in shares of BHP Group during the 3rd quarter worth about $26,000. Sound Income Strategies LLC lifted its stake in 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 purchasing an additional 294 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of BHP Group during the fourth quarter valued at approximately $40,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of BHP Group in the third quarter worth approximately $50,000. Finally, Viking Fund Management LLC lifted its stake in shares of BHP Group by 72.4% during the 3rd quarter. Viking Fund Management LLC now owns 1,000 shares of the mining company’s stock worth $62,000 after acquiring an additional 420 shares during the last quarter. 3.79% of the stock is currently 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.