BHP Group (NYSE:BHP) Upgraded at Argus

Argus upgraded shares of BHP Group (NYSE:BHP) from a hold rating to a buy rating in a report issued on Tuesday morning, Marketbeat reports. Argus currently has $68.00 price objective on the mining company’s stock.

A number of other brokerages also recently weighed in on BHP. Weiss Ratings reiterated a “hold (c)” rating on shares of BHP Group in a report on Wednesday, October 8th. Zacks Research upgraded shares of BHP Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 9th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.00.

BHP Group Trading Down 0.9%

Shares of NYSE BHP opened at $60.37 on Tuesday. The stock’s 50 day moving average price is $57.28 and its two-hundred day moving average price is $54.50. BHP Group has a 52-week low of $39.73 and a 52-week high of $62.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.11 and a current ratio of 1.46.

Hedge Funds Weigh In On BHP Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP grew its position in shares of BHP Group by 11.3% during the third quarter. Allworth Financial LP now owns 4,638 shares of the mining company’s stock worth $259,000 after acquiring an additional 472 shares during the last quarter. Investment Research Partners LLC acquired a new position in BHP Group during the 3rd quarter valued at about $375,000. BlueCrest Capital Management Ltd bought a new position in BHP Group in the 3rd quarter worth about $699,000. CIBC Private Wealth Group LLC increased its stake in shares of BHP Group by 4.6% in the third quarter. CIBC Private Wealth Group LLC now owns 757,688 shares of the mining company’s stock valued at $42,241,000 after purchasing an additional 33,337 shares during the period. Finally, Ovata Capital Management Ltd increased its stake in shares of BHP Group by 21.3% in the third quarter. Ovata Capital Management Ltd now owns 22,687 shares of the mining company’s stock valued at $1,275,000 after purchasing an additional 3,986 shares during the period. Institutional investors and hedge funds own 3.79% of the company’s stock.

About BHP Group

BHP Group is an Anglo-Australian natural resources company engaged principally in the exploration, development, production and marketing of commodities. Its core businesses include the extraction and processing of iron ore, copper, metallurgical and thermal coal, nickel and other minerals. BHP operates large-scale mining and processing assets and supplies raw materials used across steelmaking, energy and industrial supply chains.

The company has a global operating footprint with significant assets and projects in Australia and the Americas, and commercial activities that serve customers worldwide.