BHP Group (NYSE:BHP) Hits New 12-Month High – Should You Buy?

Shares of BHP Group Limited Sponsored ADR (NYSE:BHP) hit a new 52-week high during trading on Tuesday . The company traded as high as $93.75 and last traded at $93.5140, with a volume of 212958 shares traded. The stock had previously closed at $92.13.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BHP. Weiss Ratings reiterated a “hold (c)” rating on shares of BHP Group in a research note on Monday, April 20th. Citigroup restated a “neutral” rating on shares of BHP Group in a research note on Monday, June 8th. Wall Street Zen downgraded BHP Group from a “buy” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group upgraded BHP Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. Finally, Zacks Research cut BHP Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.33.

BHP Group Trading Up 1.6%

The stock’s fifty day moving average price is $83.10 and its 200-day moving average price is $72.84. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44.

Hedge Funds Weigh In On BHP Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Bayban bought a new position in shares of BHP Group in the fourth quarter valued at about $25,000. Hilton Head Capital Partners LLC acquired a new stake in BHP Group during the fourth quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in BHP Group during the fourth quarter worth approximately $26,000. Sound Income Strategies LLC boosted its holdings in shares of BHP Group by 222.1% during the fourth quarter. Sound Income Strategies LLC now owns 422 shares of the mining company’s stock worth $27,000 after acquiring an additional 291 shares during the period. Finally, Whipplewood Advisors LLC grew its position in shares of BHP Group by 8,320.0% in the first quarter. Whipplewood Advisors LLC now owns 421 shares of the mining company’s stock valued at $31,000 after purchasing an additional 416 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.