Citigroup Issues Positive Forecast for BHP Group (LON:BHP) Stock Price

Key Points

• Citigroup raised its BHP Group price target to GBX 3,350 from GBX 3,250, while maintaining a “neutral” rating. The new target implies approximately 0.45% downside from the prior close.
• Analyst sentiment remains cautious: six analysts rate BHP a “Hold,” with a consensus target price of GBX 3,116.67.
• BHP shares opened at GBX 3,365, giving the company a market capitalization of approximately £171.04 billion; the stock has traded between GBX 1,918 and GBX 3,589 over the past year.

BHP Group (LON:BHP - Get Free Report) had its price objective increased by investment analysts at Citigroup from GBX 3,250 to GBX 3,350 in a research note issued to investors on Thursday, London Stock Exchange reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price objective points to a potential downside of 0.45% from the stock's previous close.

A number of other research analysts have also recently weighed in on the stock. Jefferies Financial Group restated a "hold" rating and issued a GBX 3,350 price objective on shares of BHP Group in a report on Tuesday, August 18th. Royal Bank Of Canada reiterated a "sector perform" rating and set a GBX 2,900 target price on shares of BHP Group in a report on Monday, August 17th. Berenberg Bank reissued a "hold" rating and issued a GBX 3,400 price target on shares of BHP Group in a research report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a GBX 2,700 price target on shares of BHP Group in a research note on Wednesday, August 19th. Finally, JPMorgan Chase & Co. reduced their price objective on BHP Group from GBX 3,400 to GBX 3,000 and set a "neutral" rating on the stock in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of GBX 3,116.67.

BHP Group Stock Down 1.1%

Shares of LON:BHP opened at GBX 3,365 on Thursday. The firm has a market capitalization of £171.04 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of -0.78 and a beta of 0.84. BHP Group has a 1 year low of GBX 1,918 and a 1 year high of GBX 3,589. The company has a debt-to-equity ratio of 53.26, a current ratio of 1.88 and a quick ratio of 1.37. The firm's 50-day moving average is GBX 3,254.30 and its two-hundred day moving average is GBX 3,077.42.

About BHP Group

We are a world-leading resources company, focused on the resources the world needs to grow and decarbonise. Copper for renewable energy. Potash for sustainable farming. Iron ore and metallurgical coal for the steel needed for global infrastructure and the energy transition. A resources mix for today and for the future. Our strategy is to deliver long-term value and returns through the cycle. We aim to do this through owning a portfolio of world class assets with exposure to highly attractive commodities that benefit from the mega-trends playing out in the world around us, by operating them exceptionally well, by maintaining a disciplined approach to capital allocation and through being industry leaders in sustainability and the creation of social value. We are a global business with over 9,000 suppliers around the world, many of which are small to medium-sized businesses that are local to our assets.

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