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

BHP Group (NYSE:BHP) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

A number of other brokerages also recently commented on BHP. Argus upgraded shares of BHP Group to a “strong-buy” rating in a report on Thursday, September 19th. Jefferies Financial Group reduced their price target on shares of BHP Group from $57.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Sanford C. Bernstein raised shares of BHP Group from a “market perform” rating to an “outperform” rating in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

BHP Group Stock Performance

NYSE:BHP traded down $0.10 during trading hours on Friday, reaching $48.62. 2,411,273 shares of the company’s stock were exchanged, compared to its average volume of 2,459,979. The firm has a market capitalization of $123.29 billion, a price-to-earnings ratio of 10.52 and a beta of 0.95. The company has a 50-day moving average of $51.53 and a 200 day moving average of $54.50. 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 1-year low of $48.06 and a 1-year high of $64.04.

Hedge Funds Weigh In On BHP Group

Several institutional investors have recently modified their holdings of the stock. Ridgewood Investments LLC raised its stake in shares of BHP Group by 136.4% during the 4th quarter. Ridgewood Investments LLC now owns 5,018 shares of the mining company’s stock worth $245,000 after purchasing an additional 2,895 shares in the last quarter. Range Financial Group LLC acquired a new stake in shares of BHP Group during the 4th quarter worth $1,301,000. Versant Capital Management Inc acquired a new stake in BHP Group in the fourth quarter valued at about $40,000. JPMorgan Chase & Co. raised its position in BHP Group by 10.1% in the third quarter. JPMorgan Chase & Co. now owns 600,086 shares of the mining company’s stock valued at $37,271,000 after purchasing an additional 55,095 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in BHP Group by 17.4% in the third quarter. Franklin Resources Inc. now owns 316,454 shares of the mining company’s stock valued at $18,807,000 after purchasing an additional 46,791 shares during the last quarter. 3.79% of the stock is currently owned by institutional investors and hedge funds.

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.