BHP Group (NYSE:BHP) Receives Neutral Rating from Citigroup

Key Points

• Citigroup has reiterated a "neutral" rating for BHP Group, which is also reflected by several other analysts adjusting their ratings downward in recent months.
• The current consensus rating for BHP Group is "Hold" with a target price of $48.50.
• BHP Group's stock opened at $53.81, with a market capitalization of $136.46 billion and a PE ratio of 12.23.

BHP Group (NYSE:BHP - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at Citigroup in a research note issued to investors on Wednesday, Marketbeat reports.

Other analysts have also issued reports about the stock. Berenberg Bank restated a "sell" rating and issued a $44.00 price objective on shares of BHP Group in a report on Thursday, July 24th. Argus lowered shares of BHP Group from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Macquarie lowered shares of BHP Group from an "outperform" rating to a "neutral" rating in a report on Friday, July 18th. Sanford C. Bernstein downgraded BHP Group from an "outperform" rating to a "market perform" rating in a research report on Monday, May 19th. Finally, BMO Capital Markets downgraded BHP Group from an "outperform" rating to a "market perform" rating in a research report on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BHP Group currently has an average rating of "Hold" and a consensus price target of $48.50.

BHP Group Trading Up 2.6%

BHP traded up $1.4250 on Wednesday, hitting $55.9250. The company had a trading volume of 3,994,711 shares, compared to its average volume of 2,920,826. The firm has a market cap of $141.81 billion, a P/E ratio of 12.71 and a beta of 0.80. BHP Group has a 1 year low of $39.73 and a 1 year high of $63.21. The company's fifty day moving average price is $51.23 and its 200 day moving average price is $49.67. The company has a current ratio of 1.46, a quick ratio of 1.25 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On BHP Group

Several hedge funds have recently modified their holdings of the stock. Fisher Asset Management LLC lifted its holdings in shares of BHP Group by 1.9% during the second quarter. Fisher Asset Management LLC now owns 22,842,252 shares of the mining company's stock worth $1,098,484,000 after purchasing an additional 429,330 shares during the period. Wellington Management Group LLP lifted its holdings in shares of BHP Group by 1.2% during the first quarter. Wellington Management Group LLP now owns 5,579,061 shares of the mining company's stock worth $270,808,000 after purchasing an additional 63,641 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of BHP Group by 43.0% during the first quarter. Goldman Sachs Group Inc. now owns 4,951,258 shares of the mining company's stock worth $240,334,000 after purchasing an additional 1,490,012 shares during the period. Northern Trust Corp lifted its holdings in shares of BHP Group by 58.5% during the fourth quarter. Northern Trust Corp now owns 2,294,562 shares of the mining company's stock worth $112,043,000 after purchasing an additional 846,963 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of BHP Group during the second quarter worth $68,953,000. 3.79% of the stock is owned by institutional investors and hedge funds.

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.