BHP Group (NYSE:BHP) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded BHP Group from “Buy” to “Hold,” following other mixed analyst actions. MarketBeat’s consensus rating is “Hold,” with an average price target of $78.00.
• BHP shares opened at $97.13, near their 52-week high of $97.27, and were trading above both their 50-day moving average of $85.48 and 200-day moving average of $80.79.
• Institutional investors recently increased exposure to BHP, while institutions collectively own 3.79% of the company’s stock.

BHP Group (NYSE:BHP - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

BHP has been the subject of several other reports. Zacks Research downgraded BHP Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of BHP Group in a research report on Thursday, July 2nd. Bank of America lowered their target price on BHP Group from $93.00 to $91.00 and set a "neutral" rating for the company in a research note on Monday, June 22nd. DZ Bank raised shares of BHP Group from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. Finally, Weiss Ratings upgraded shares of BHP Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $78.00.

BHP Group Price Performance

NYSE BHP opened at $97.13 on Friday. The business has a fifty day moving average price of $85.48 and a two-hundred day moving average price of $80.79. BHP Group has a fifty-two week low of $51.83 and a fifty-two week high of $97.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.28 and a current ratio of 1.88.

Institutional Investors Weigh In On BHP Group

A number of hedge funds and other institutional investors have recently bought and sold shares of BHP. Main Street Research LLC bought a new stake in BHP Group in the 1st quarter valued at about $37,767,000. Ferguson Wellman Capital Management Inc. bought a new stake in shares of BHP Group during the first quarter worth about $18,591,000. Icon Advisers Inc. Co. increased its position in shares of BHP Group by 47.5% during the first quarter. Icon Advisers Inc. Co. now owns 59,000 shares of the mining company's stock worth $4,292,000 after acquiring an additional 19,000 shares in the last quarter. Primoris Wealth Advisors LLC acquired a new stake in shares of BHP Group in the 4th quarter worth about $1,389,000. Finally, Himension Capital Singapore PTE. LTD. acquired a new stake in shares of BHP Group in the 1st quarter worth about $1,705,000. Institutional investors own 3.79% of the company's stock.

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.

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