BHP Group Limited Sponsored ADR $BHP Shares Acquired by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its stake in BHP Group’s ADRs by 27.4% in the first quarter, buying 26,558 additional shares and bringing its total holding to 123,640 shares worth about $8.99 million.
• Other institutional investors also added to BHP positions, and hedge funds and institutions now own 3.79% of the company’s stock overall.
• Analyst sentiment is mixed but leaning positive: BHP has a Moderate Buy consensus, with an average price target of $78, while shares recently traded at $83.56.

NewEdge Wealth LLC increased its stake in BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 27.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,640 shares of the mining company's stock after purchasing an additional 26,558 shares during the period. NewEdge Wealth LLC's holdings in BHP Group were worth $8,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BHP. AQR Capital Management LLC boosted its holdings in shares of BHP Group by 230.0% during the first quarter. AQR Capital Management LLC now owns 31,852 shares of the mining company's stock valued at $1,546,000 after acquiring an additional 22,201 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of BHP Group by 20.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,594 shares of the mining company's stock worth $660,000 after acquiring an additional 2,331 shares during the period. Invesco Ltd. increased its holdings in shares of BHP Group by 99.6% in the 2nd quarter. Invesco Ltd. now owns 12,506 shares of the mining company's stock worth $601,000 after acquiring an additional 6,241 shares during the period. EverSource Wealth Advisors LLC lifted its position in BHP Group by 173.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,774 shares of the mining company's stock valued at $182,000 after purchasing an additional 2,395 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its position in BHP Group by 13.0% in the 2nd quarter. Guggenheim Capital LLC now owns 16,692 shares of the mining company's stock valued at $803,000 after purchasing an additional 1,917 shares during the last quarter. Institutional investors and hedge funds own 3.79% of the company's stock.

BHP Group Stock Performance

Shares of BHP opened at $83.56 on Friday. 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 firm has a 50-day moving average price of $84.85 and a 200 day moving average price of $77.62. BHP Group Limited Sponsored ADR has a 52-week low of $49.68 and a 52-week high of $93.83.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Argus set a $95.00 target price on shares of BHP Group in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of BHP Group in a report on Thursday, July 2nd. Citigroup reissued a "neutral" rating on shares of BHP Group in a report on Monday, June 8th. Weiss Ratings restated a "hold (c)" rating on shares of BHP Group in a research report on Friday, July 17th. Finally, Wall Street Zen raised BHP Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 27th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.00.

BHP Group 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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