Rare Wolf Capital LLC Makes New Investment in BHP Group Limited Sponsored ADR $BHP

Rare Wolf Capital LLC acquired a new stake in BHP Group Limited Sponsored ADR (NYSE:BHP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,906 shares of the mining company’s stock, valued at approximately $598,000.

A number of other hedge funds also recently made changes to their positions in BHP. Fisher Asset Management LLC raised its stake in BHP Group by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 23,402,474 shares of the mining company’s stock valued at $1,412,807,000 after acquiring an additional 252,825 shares during the period. Morgan Stanley boosted its position in BHP Group by 22.8% during the fourth quarter. Morgan Stanley now owns 13,800,183 shares of the mining company’s stock worth $833,117,000 after purchasing an additional 2,562,747 shares during the period. Bank of America Corp DE boosted its position in BHP Group by 25.2% during the third quarter. Bank of America Corp DE now owns 3,465,421 shares of the mining company’s stock worth $193,197,000 after purchasing an additional 697,316 shares during the period. Northern Trust Corp increased its holdings in shares of BHP Group by 5.3% in the third quarter. Northern Trust Corp now owns 2,443,560 shares of the mining company’s stock valued at $136,228,000 after purchasing an additional 123,382 shares during the last quarter. Finally, SIH Partners LLLP increased its holdings in shares of BHP Group by 937.5% in the third quarter. SIH Partners LLLP now owns 1,856,704 shares of the mining company’s stock valued at $103,511,000 after purchasing an additional 1,677,739 shares during the last quarter. 3.79% of the stock is owned by institutional investors and hedge funds.

BHP Group Stock Performance

BHP stock opened at $88.08 on Friday. BHP Group Limited Sponsored ADR has a fifty-two week low of $45.74 and a fifty-two week high of $93.83. The company has a current ratio of 1.65, a quick ratio of 1.28 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average price is $84.14 and its two-hundred day moving average price is $73.59.

BHP Group News Summary

Here are the key news stories impacting BHP Group this week:

• Negative Sentiment: BHP said Jansen Stage 2 will cost about $2 billion more than previously expected, forcing it to book a $2.3 billion charge as higher costs and extra labor hours push out first production. Reuters article: BHP flags cost overrun at Jansen potash project, to book $2.3 billion charge
• Neutral Sentiment: Earlier coverage echoed the same update, with multiple outlets reporting the Jansen cost overrun and the size of the write-down, reinforcing concerns that project inflation is still hitting the miner. Bloomberg article: BHP Takes $2.3 Billion Potash Charge as Costs Jump Again
• Neutral Sentiment: BHP also reportedly is preparing to sell Chile power transmission lines as it focuses more on copper mining there, a potential portfolio reshaping move that could support longer-term strategy but is not the main driver today. Reuters article: BHP readies $1.5 billion Chile power transmission line sale, Diario Financiero reports

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BHP shares. Bank of America cut shares of BHP Group from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of BHP Group in a research note on Monday, April 20th. Wall Street Zen cut shares of BHP Group from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Argus set a $95.00 price objective on shares of BHP Group in a research report on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of BHP Group in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.33.

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.