Cadence Wealth Management LLC Has $736,000 Stake in BHP Group Limited Sponsored ADR $BHP

Cadence Wealth Management LLC raised its stake in BHP Group Limited Sponsored ADR (NYSE:BHP) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,308 shares of the mining company’s stock after purchasing an additional 1,303 shares during the quarter. BHP Group accounts for about 0.5% of Cadence Wealth Management LLC’s portfolio, making the stock its 27th biggest position. Cadence Wealth Management LLC’s holdings in BHP Group were worth $736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in BHP Group by 1.2% during the first quarter. Wellington Management Group LLP now owns 5,579,061 shares of the mining company’s stock worth $270,808,000 after buying an additional 63,641 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in BHP Group by 43.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,951,258 shares of the mining company’s stock worth $240,334,000 after acquiring an additional 1,490,012 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of BHP Group in the 2nd quarter worth $68,953,000. Royal Bank of Canada grew its stake in shares of BHP Group by 2.8% in the 1st quarter. Royal Bank of Canada now owns 1,149,201 shares of the mining company’s stock worth $55,781,000 after acquiring an additional 30,980 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of BHP Group by 6.1% in the first quarter. American Century Companies Inc. now owns 681,659 shares of the mining company’s stock valued at $33,088,000 after purchasing an additional 38,903 shares during the last quarter. Institutional investors own 3.79% of the company’s stock.

Analyst Ratings Changes

BHP has been the topic of several analyst reports. BMO Capital Markets cut shares of BHP Group from an “outperform” rating to a “market perform” rating in a report on Sunday, July 27th. Weiss Ratings restated a “hold (c)” rating on shares of BHP Group in a research note on Wednesday, October 8th. Berenberg Bank reaffirmed a “sell” rating and set a $44.00 price target on shares of BHP Group in a research report on Thursday, July 24th. Finally, Citigroup reissued a “neutral” rating on shares of BHP Group in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BHP Group currently has an average rating of “Hold” and a consensus target price of $48.50.

BHP Group Trading Down 1.6%

Shares of BHP stock opened at $52.63 on Friday. BHP Group Limited Sponsored ADR has a 12-month low of $39.73 and a 12-month high of $58.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.11 and a current ratio of 1.46. The company has a 50 day moving average of $55.25 and a 200-day moving average of $52.66.

BHP Group (NYSE:BHP) last announced its quarterly earnings data on Monday, August 18th. The mining company reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.09). The business had revenue of $26.23 billion during the quarter, compared to analyst estimates of $26.04 billion. As a group, analysts predict that BHP Group Limited Sponsored ADR will post 4.03 earnings per share for the current fiscal year.

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.