BHP Group (NYSE:BHP) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded BHP Group from “hold” to “buy,” though the broader analyst consensus remains “Hold,” with one Strong Buy, two Buy, and seven Hold ratings and an average price target of $78.
• BHP shares opened at $90.51, near the company’s 12-month high of $93.83, and are trading above both their 50-day moving average of $84.93 and 200-day moving average of $79.20.
• Institutional investors own 3.79% of BHP, with several hedge funds recently initiating or increasing positions; BHP’s operations span iron ore, copper, coal, nickel, and other minerals across Australia and the Americas.

BHP Group (NYSE:BHP - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Sunday.

A number of other research analysts have also weighed in on BHP. Zacks Research lowered shares of BHP Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. The Goldman Sachs Group upgraded shares of BHP Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 17th. DZ Bank raised shares of BHP Group from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of BHP Group in a report on Thursday, July 2nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of BHP Group in a research report on Friday, July 17th. One 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 company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $78.00.

BHP Group Price Performance

Shares of BHP stock opened at $90.51 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44. BHP Group has a 12-month low of $51.83 and a 12-month high of $93.83. The stock's 50-day moving average price is $84.93 and its 200-day moving average price is $79.20.

Institutional Investors Weigh In On BHP Group

Several hedge funds have recently modified their holdings of the business. Bayban purchased a new position in shares of BHP Group in the 4th quarter worth approximately $25,000. Hilton Head Capital Partners LLC purchased a new stake in BHP Group during the fourth quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in BHP Group during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC boosted its stake in BHP Group by 222.1% in the fourth quarter. Sound Income Strategies LLC now owns 422 shares of the mining company's stock valued at $27,000 after acquiring an additional 291 shares in the last quarter. Finally, Whipplewood Advisors LLC boosted its stake in BHP Group by 8,320.0% in the first quarter. Whipplewood Advisors LLC now owns 421 shares of the mining company's stock valued at $31,000 after acquiring an additional 416 shares in the last quarter. Hedge funds and other institutional investors own 3.79% of the company's stock.

BHP Group Company Profile

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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