Connor Clark & Lunn Investment Management Ltd. Grows Position in BHP Group Limited Sponsored ADR (NYSE:BHP)

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its holdings in BHP Group Limited by acquiring 253,881 shares, marking a growth of 3,599.1%.
• Several hedge funds recently acquired new positions in BHP Group, indicating increased institutional interest, with 3.79% of the stock now owned by institutional investors.
• Analysts are mixed on the stock, with Berenberg Bank issuing a "sell" rating and others adjusting ratings to "hold" or "market perform", resulting in a consensus target price of $48.50.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 3,599.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 260,935 shares of the mining company's stock after acquiring an additional 253,881 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in BHP Group were worth $12,666,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Northern Trust Corp grew its stake 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 worth $112,043,000 after buying an additional 846,963 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in BHP Group by 1,898.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 707,405 shares of the mining company's stock worth $34,543,000 after buying an additional 672,016 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in BHP Group during the fourth quarter worth about $25,878,000. Citigroup Inc. grew its stake in BHP Group by 94.9% during the first quarter. Citigroup Inc. now owns 422,239 shares of the mining company's stock worth $20,495,000 after buying an additional 205,591 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in BHP Group during the first quarter worth about $8,734,000. 3.79% of the stock is owned by institutional investors.

BHP Group Trading Down 1.6%

NYSE BHP traded down $0.90 during trading hours on Thursday, reaching $53.83. The company's stock had a trading volume of 1,885,013 shares, compared to its average volume of 2,979,962. The firm has a fifty day simple moving average of $50.63 and a 200-day simple moving average of $49.43. The stock has a market cap of $136.51 billion, a P/E ratio of 12.24 and a beta of 0.80. BHP Group Limited Sponsored ADR has a 52 week low of $39.73 and a 52 week high of $63.21. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.70 and a quick ratio of 1.25.

Wall Street Analyst Weigh In

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

BHP Group Company 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.