StockNews.com Upgrades BHP Group (NYSE:BHP) to Strong-Buy

StockNews.com upgraded shares of BHP Group (NYSE:BHP) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.

Other equities research analysts have also issued reports about the stock. Argus raised shares of BHP Group to a “strong-buy” rating in a report on Thursday, September 19th. Sanford C. Bernstein raised shares of BHP Group from a “market perform” rating to an “outperform” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group lowered their price target on shares of BHP Group from $57.00 to $53.00 and set a “hold” rating on the stock in a report on Monday, January 6th. 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 company. Based on data from MarketBeat.com, BHP Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

BHP Group Price Performance

NYSE BHP opened at $48.62 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.70 and a quick ratio of 1.29. The stock’s fifty day moving average price is $51.53 and its 200 day moving average price is $54.50. BHP Group has a 1 year low of $48.06 and a 1 year high of $64.04. The company has a market cap of $123.29 billion, a price-to-earnings ratio of 10.52 and a beta of 0.95.

Institutional Investors Weigh In On BHP Group

Several hedge funds have recently modified their holdings of the company. Bleakley Financial Group LLC boosted its stake in shares of BHP Group by 4.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 5,101 shares of the mining company’s stock worth $317,000 after acquiring an additional 203 shares in the last quarter. Huntington National Bank boosted its stake in shares of BHP Group by 17.5% during the 3rd quarter. Huntington National Bank now owns 1,365 shares of the mining company’s stock worth $85,000 after acquiring an additional 203 shares in the last quarter. Pinnacle West Asset Management Inc. boosted its stake in shares of BHP Group by 2.8% during the 3rd quarter. Pinnacle West Asset Management Inc. now owns 8,150 shares of the mining company’s stock worth $506,000 after acquiring an additional 225 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in BHP Group by 4.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 6,012 shares of the mining company’s stock valued at $373,000 after buying an additional 263 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. lifted its stake in BHP Group by 2.5% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 11,396 shares of the mining company’s stock valued at $708,000 after buying an additional 275 shares in the last quarter. 3.79% of the stock is 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.