BHP Group (NYSE:BHP) Downgraded to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded BHP Group from strong-buy to hold, adding to a mixed analyst picture for the mining company.
• Despite the downgrade, other firms remain constructive: Deutsche Bank kept a buy rating, while the overall consensus from analysts is currently Hold with an average target price of $78.00.
• BHP shares were down 1.2% and opened at $83.56; the company operates globally in iron ore, copper, coal, nickel, and other minerals used across major industrial supply chains.

BHP Group (NYSE:BHP - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of BHP Group in a research report on Thursday, July 2nd. Wall Street Zen upgraded shares of BHP Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 27th. Berenberg Bank raised shares of BHP Group from a "sell" rating to a "hold" rating in a report on Thursday, April 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of BHP Group in a research report on Friday, July 17th. Finally, Bank of America reduced their target price on shares of BHP Group from $93.00 to $91.00 and set a "neutral" rating for the company in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, BHP Group has an average rating of "Hold" and a consensus target price of $78.00.

BHP Group Stock Down 1.2%

Shares of BHP Group stock opened at $83.56 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.28 and a debt-to-equity ratio of 0.44. The business's 50 day simple moving average is $84.85 and its 200-day simple moving average is $77.62. BHP Group has a twelve month low of $49.68 and a twelve month high of $93.83.

Hedge Funds Weigh In On BHP Group

Several large investors have recently bought and sold shares of BHP. Bayban acquired a new stake in shares of BHP Group in the 4th quarter worth approximately $25,000. Whipplewood Advisors LLC raised its holdings in BHP Group by 8,320.0% during the first quarter. Whipplewood Advisors LLC now owns 421 shares of the mining company's stock worth $31,000 after purchasing an additional 416 shares in the last quarter. Sound Income Strategies LLC lifted its position in BHP Group by 222.1% in the fourth quarter. Sound Income Strategies LLC now owns 422 shares of the mining company's stock worth $27,000 after purchasing an additional 291 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in BHP Group in the fourth quarter worth approximately $26,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in BHP Group during the 4th quarter valued at $26,000. Institutional investors and hedge funds 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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