MidFirst Bank Takes $1.99 Million Position in BHP Group Limited Sponsored ADR $BHP

MidFirst Bank bought a new position in BHP Group Limited Sponsored ADR (NYSE:BHP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 33,096 shares of the mining company’s stock, valued at approximately $1,987,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Morgan Stanley lifted its stake in BHP Group by 22.8% in the 4th 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 in the last quarter. SIH Partners LLLP lifted its position 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 worth $103,511,000 after buying an additional 1,677,739 shares in the last quarter. Bank of Montreal Can lifted its position in shares of BHP Group by 264.4% in the fourth quarter. Bank of Montreal Can now owns 1,358,585 shares of the mining company’s stock worth $82,018,000 after buying an additional 985,794 shares in the last quarter. Bank of America Corp DE boosted its stake 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 valued at $193,197,000 after buying an additional 697,316 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in BHP Group during the 3rd quarter valued at approximately $27,234,000. Institutional investors own 3.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Zacks Research downgraded BHP Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. DZ Bank raised shares of BHP Group from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Sanford C. Bernstein reduced their price target on shares of BHP Group from $49.50 to $48.00 and set a “market perform” rating on the stock in a research report on Monday, March 9th. Citigroup reaffirmed a “neutral” rating on shares of BHP Group in a research note on Monday, June 8th. Finally, Berenberg Bank upgraded shares of BHP Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 2nd. One equities 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. According to MarketBeat.com, BHP Group presently has an average rating of “Hold” and a consensus target price of $62.33.

BHP Group Stock Down 2.5%

Shares of NYSE BHP opened at $88.08 on Friday. BHP Group Limited Sponsored ADR has a 1-year low of $45.74 and a 1-year high of $93.83. 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 business’s 50 day moving average is $84.14 and its two-hundred day moving average is $73.59.

Trending Headlines about BHP Group

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

BHP Group Company Profile

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.