BHP Group (NYSE:BHP) Shares Gap Down - Here's What Happened

Shares of BHP Group Limited (NYSE:BHP - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $49.43, but opened at $48.18. BHP Group shares last traded at $48.52, with a volume of 924,433 shares.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Clarkson Capital upgraded shares of BHP Group to a "strong-buy" rating in a report on Friday, February 28th. Sanford C. Bernstein downgraded BHP Group from an "outperform" rating to a "market perform" rating in a research note on Monday, May 19th. Finally, Wall Street Zen downgraded BHP Group from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $53.00.

BHP Group Stock Up 1.1%

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.70 and a quick ratio of 1.25. The firm has a market capitalization of $124.58 billion, a P/E ratio of 11.17 and a beta of 0.86. The business has a 50 day moving average price of $47.68 and a 200 day moving average price of $49.42.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC boosted its position in shares of BHP Group by 1.4% in the fourth quarter. Sterling Capital Management LLC now owns 13,856 shares of the mining company's stock valued at $677,000 after acquiring an additional 195 shares during the period. Invesco Ltd. raised its stake in BHP Group by 1.8% during the 4th quarter. Invesco Ltd. now owns 11,150 shares of the mining company's stock valued at $544,000 after purchasing an additional 198 shares during the last quarter. Kovack Advisors Inc. boosted its holdings in BHP Group by 5.2% in the 4th quarter. Kovack Advisors Inc. now owns 4,353 shares of the mining company's stock valued at $213,000 after purchasing an additional 215 shares during the period. NBT Bank N A NY grew its position in BHP Group by 10.1% in the 1st quarter. NBT Bank N A NY now owns 2,353 shares of the mining company's stock worth $114,000 after purchasing an additional 216 shares during the last quarter. Finally, Wedmont Private Capital increased its stake in BHP Group by 4.2% during the first quarter. Wedmont Private Capital now owns 6,788 shares of the mining company's stock valued at $307,000 after acquiring an additional 276 shares during the period. 3.79% of the stock is owned by institutional investors.

About BHP Group

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