BHP Group (NYSE:BHP) Price Target Cut to $48.00 by Analysts at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein cut BHP's target from $49.50 to $48 and kept a "market perform" rating, a level that implies about a 32.6% downside from the previous close.
• Analyst views are mixed—one Strong Buy, one Buy, six Holds and one Sell—producing a consensus "Hold" rating and an average price target of $53.33.
• Shares traded down to $71.18 (‑0.9%) with a 52‑week range of $39.73–$83.21, while institutions such as Morgan Stanley notably increased stakes (Morgan Stanley up 22.8% to 13.8M shares), indicating sizable ownership shifts despite the hold consensus.

BHP Group (NYSE:BHP - Get Free Report) had its target price cut by equities research analysts at Sanford C. Bernstein from $49.50 to $48.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "market perform" rating on the mining company's stock. Sanford C. Bernstein's price target would indicate a potential downside of 32.57% from the company's previous close.

Several other analysts have also recently weighed in on the stock. Zacks Research raised shares of BHP Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 9th. Argus upgraded BHP Group from a "hold" rating to a "buy" rating and set a $68.00 price target on the stock in a research report on Tuesday, December 30th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of BHP Group in a report on Wednesday, February 18th. Citigroup restated a "neutral" rating on shares of BHP Group in a report on Tuesday, February 10th. Finally, Wall Street Zen raised BHP Group from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $53.33.

BHP Group Stock Down 0.9%

Shares of BHP traded down $0.67 during trading hours on Monday, hitting $71.18. The stock had a trading volume of 3,582,066 shares, compared to its average volume of 4,508,675. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44. The company's fifty day moving average is $70.06 and its two-hundred day moving average is $60.97. BHP Group has a 52 week low of $39.73 and a 52 week high of $83.21.

Hedge Funds Weigh In On BHP Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley raised its stake in BHP Group by 22.8% during the 4th quarter. Morgan Stanley now owns 13,800,183 shares of the mining company's stock worth $833,117,000 after buying an additional 2,562,747 shares during the period. SIH Partners LLLP boosted its holdings in BHP Group by 937.5% in the 3rd quarter. SIH Partners LLLP now owns 1,856,704 shares of the mining company's stock valued at $103,511,000 after purchasing an additional 1,677,739 shares during the period. Bank of Montreal Can grew its holdings in shares of BHP Group by 264.4% during the 4th quarter. Bank of Montreal Can now owns 1,358,585 shares of the mining company's stock worth $82,018,000 after purchasing an additional 985,794 shares in the last quarter. Bank of America Corp DE increased its position in shares of BHP Group by 25.2% in the third quarter. Bank of America Corp DE now owns 3,465,421 shares of the mining company's stock worth $193,197,000 after purchasing an additional 697,316 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in BHP Group during the third quarter worth about $27,234,000. 3.79% of the stock is owned by institutional investors.

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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