ABC Arbitrage SA Has $239,000 Holdings in BHP Group Limited Sponsored ADR (NYSE:BHP)

Key Points

• ABC Arbitrage SA significantly reduced its holdings in BHP Group by 96.9%, ending up with just 4,929 shares valued at $239,000.
• Other institutional investors, such as Schroder Investment Management Group and Franklin Resources Inc., increased their stakes in BHP Group during the same period.
• BHP Group has received a series of downgraded ratings from analysts, with the average rating being a "Hold" and a consensus price target of $48.50.

ABC Arbitrage SA lessened its position in BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 96.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,929 shares of the mining company's stock after selling 151,835 shares during the quarter. ABC Arbitrage SA's holdings in BHP Group were worth $239,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Northern Trust Corp grew its position in BHP Group by 58.5% during the fourth quarter. Northern Trust Corp now owns 2,294,562 shares of the mining company's stock valued at $112,043,000 after purchasing an additional 846,963 shares in the last quarter. Marshall Wace LLP lifted its stake in BHP Group by 16.9% in the fourth quarter. Marshall Wace LLP now owns 710,003 shares of the mining company's stock valued at $34,669,000 after acquiring an additional 102,433 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in BHP Group by 1,898.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 707,405 shares of the mining company's stock valued at $34,543,000 after acquiring an additional 672,016 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in BHP Group in the fourth quarter valued at approximately $25,878,000. Finally, Willis Investment Counsel lifted its stake in BHP Group by 1.9% in the first quarter. Willis Investment Counsel now owns 411,130 shares of the mining company's stock valued at $19,956,000 after acquiring an additional 7,816 shares during the last quarter. 3.79% of the stock is owned by hedge funds and other institutional investors.

BHP Group Stock Performance

Shares of BHP Group stock traded up $0.77 on Friday, reaching $52.88. The stock had a trading volume of 2,175,893 shares, compared to its average volume of 3,196,071. The business's 50-day moving average price is $50.33 and its two-hundred day moving average price is $49.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.25 and a current ratio of 1.70. BHP Group Limited Sponsored ADR has a fifty-two week low of $39.73 and a fifty-two week high of $63.21. The stock has a market cap of $134.09 billion, a P/E ratio of 12.02 and a beta of 0.80.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BHP. Sanford C. Bernstein cut shares of BHP Group from an "outperform" rating to a "market perform" rating in a research note on Monday, May 19th. Argus cut shares of BHP Group from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. BMO Capital Markets cut shares of BHP Group from an "outperform" rating to a "market perform" rating in a research note on Sunday, July 27th. Macquarie cut shares of BHP Group from an "outperform" rating to a "neutral" rating in a research note on Friday, July 18th. Finally, Berenberg Bank restated a "sell" rating and issued a $44.00 price objective on shares of BHP Group in a research note on Thursday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, BHP Group has a consensus rating of "Hold" and an average target price of $48.50.

BHP Group Profile

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.