BHP Group (NYSE:BHP) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of BHP Group (NYSE:BHP) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other research analysts also recently weighed in on the company. Argus set a $95.00 price objective on BHP Group in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of BHP Group in a research report on Thursday, July 2nd. Citigroup reissued a “neutral” rating on shares of BHP Group in a research report on Monday, June 8th. Weiss Ratings upgraded shares of BHP Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. Finally, Zacks Research downgraded shares of BHP Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $78.00.

BHP Group Price Performance

BHP Group stock opened at $97.22 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.88 and a quick ratio of 1.48. BHP Group has a one year low of $51.83 and a one year high of $97.83. The company’s fifty day moving average price is $85.58 and its two-hundred day moving average price is $81.04.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in BHP Group by 230.0% during the first quarter. AQR Capital Management LLC now owns 31,852 shares of the mining company’s stock worth $1,546,000 after purchasing an additional 22,201 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of BHP Group by 20.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,594 shares of the mining company’s stock valued at $660,000 after purchasing an additional 2,331 shares in the last quarter. Invesco Ltd. boosted its stake in shares of BHP Group by 99.6% in the 2nd quarter. Invesco Ltd. now owns 12,506 shares of the mining company’s stock valued at $601,000 after purchasing an additional 6,241 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of BHP Group by 173.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,774 shares of the mining company’s stock worth $182,000 after purchasing an additional 2,395 shares during the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of BHP Group by 13.0% in the 2nd quarter. Guggenheim Capital LLC now owns 16,692 shares of the mining company’s stock worth $803,000 after purchasing an additional 1,917 shares during the last quarter. 3.79% of the stock is currently owned by institutional investors and hedge funds.

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.