BHP Group (NYSE:BHP) Downgraded by StockNews.com

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BHP Group (NYSE:BHPGet Rating) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

Other analysts have also recently issued reports about the stock. HSBC started coverage on shares of BHP Group in a research report on Friday, March 18th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of BHP Group from GBX 2,250 ($27.60) to GBX 2,200 ($26.99) in a research report on Wednesday. Jefferies Financial Group raised shares of BHP Group to a “buy” rating and set a $82.00 price objective on the stock in a research report on Friday, June 24th. Citigroup raised shares of BHP Group from a “neutral” rating to a “buy” rating in a research report on Thursday, April 21st. Finally, BMO Capital Markets reduced their price objective on shares of BHP Group from GBX 3,200 ($39.26) to GBX 3,000 ($36.81) in a research report on Wednesday, June 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $1,714.42.

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Shares of NYSE BHP opened at $54.13 on Friday. The firm’s 50-day moving average price is $64.02 and its 200-day moving average price is $66.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.71 and a current ratio of 1.92. BHP Group has a 12-month low of $51.88 and a 12-month high of $80.50.

A number of hedge funds have recently modified their holdings of BHP. Fisher Asset Management LLC grew its stake in BHP Group by 116.7% in the 1st quarter. Fisher Asset Management LLC now owns 16,904,899 shares of the mining company’s stock worth $1,305,903,000 after acquiring an additional 9,102,674 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in BHP Group by 119.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,338,797 shares of the mining company’s stock valued at $798,672,000 after buying an additional 5,632,545 shares during the period. Dimensional Fund Advisors LP increased its holdings in BHP Group by 136.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,937,000 shares of the mining company’s stock valued at $226,884,000 after buying an additional 1,696,427 shares during the period. State Farm Mutual Automobile Insurance Co. bought a new stake in BHP Group during the 1st quarter valued at $104,205,000. Finally, Pendal Group Ltd increased its holdings in shares of BHP Group by 1,118.5% in the 1st quarter. Pendal Group Ltd now owns 1,014,717 shares of the mining company’s stock valued at $78,387,000 after acquiring an additional 931,440 shares during the period. Institutional investors and hedge funds own 6.73% of the company’s stock.

BHP Group Company Profile (Get Rating)

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, rest of Asia, North America, South America, and internationally. It operates through Petroleum, Copper, Iron Ore, and Coal segments. The company engages in the exploration, development, and production of oil and gas properties; and mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.

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