BHP Group (NYSE:BHP) Rating Increased to Strong-Buy at Zacks Research

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

A number of other equities analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of BHP Group in a report on Friday, May 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BHP Group in a report on Monday, April 20th. Sanford C. Bernstein cut their target price on shares of BHP Group from $49.50 to $48.00 and set a “market perform” rating for the company in a research report on Monday, March 9th. Argus set a $95.00 target price on BHP Group in a research note on Monday, April 27th. Finally, Berenberg Bank upgraded BHP Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.50.

BHP Group Price Performance

BHP stock opened at $80.66 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.28 and a current ratio of 1.65. The company’s 50 day moving average is $84.69 and its 200 day moving average is $74.36. BHP Group has a 1-year low of $46.42 and a 1-year high of $93.83.

Institutional Investors Weigh In On BHP Group

A number of hedge funds have recently made changes to their positions in BHP. Morgan Stanley grew its holdings in shares of BHP Group by 22.8% during the 4th quarter. Morgan Stanley now owns 13,800,183 shares of the mining company’s stock valued at $833,117,000 after purchasing an additional 2,562,747 shares during the last quarter. SIH Partners LLLP lifted its stake in 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 purchasing an additional 1,677,739 shares during the last quarter. Bank of Montreal Can boosted its position in BHP Group by 264.4% during the fourth quarter. Bank of Montreal Can now owns 1,358,585 shares of the mining company’s stock valued at $82,018,000 after buying an additional 985,794 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 valued at $193,197,000 after buying an additional 697,316 shares during the period. Finally, Main Street Research LLC bought a new position in shares of BHP Group during the first quarter valued at about $37,767,000. 3.79% of the stock is currently owned by institutional investors.

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.