BHP Group (NYSE:BHP) Stock Rating Lowered by Zacks Research

BHP Group (NYSE:BHP) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

BHP has been the topic of several other research reports. Wall Street Zen upgraded BHP Group from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Berenberg Bank raised shares of BHP Group from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Bank of America cut their price objective on shares of BHP Group from $93.00 to $91.00 and set a “neutral” rating for the company in a research report on Monday, June 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BHP Group in a research note on Friday, July 17th. Finally, Citigroup reiterated a “neutral” rating on shares of BHP Group in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $78.00.

BHP Group Stock Performance

NYSE BHP opened at $83.56 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.65 and a quick ratio of 1.28. The stock’s fifty day moving average is $84.85 and its two-hundred day moving average is $77.62. BHP Group has a fifty-two week low of $49.68 and a fifty-two week high of $93.83.

Hedge Funds Weigh In On BHP Group

Hedge funds have recently modified their holdings of the business. Main Street Research LLC purchased a new stake in shares of BHP Group during the first quarter worth $37,767,000. Abbington Investment Group raised its stake in shares of BHP Group by 45.6% in the fourth quarter. Abbington Investment Group now owns 69,288 shares of the mining company’s stock valued at $4,183,000 after acquiring an additional 21,700 shares in the last quarter. Ferguson Wellman Capital Management Inc. purchased a new position in BHP Group in the first quarter valued at $18,591,000. SG Americas Securities LLC boosted its holdings in BHP Group by 442.2% in the fourth quarter. SG Americas Securities LLC now owns 143,065 shares of the mining company’s stock valued at $8,637,000 after purchasing an additional 116,681 shares during the period. Finally, Shrier Wealth Management LLC acquired a new position in BHP Group during the 4th quarter worth $2,630,000. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

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.