First Trust Advisors LP Buys 24,430 Shares of BHP Group Limited Sponsored ADR $BHP

Key Points

• First Trust Advisors LP increased its BHP Group stake by 76% in the first quarter, purchasing 24,430 additional shares and bringing its holdings to 56,586 shares valued at approximately $4.1 million.
• BHP shares were trading at $87.48, up 4.8%, near the upper end of their 12-month range of $51.13 to $93.83. The stock’s 50-day and 200-day moving averages were $84.87 and $78.79, respectively.
• Analyst sentiment remains mixed, with one Strong Buy, two Buy, and seven Hold ratings; the overall consensus is Hold, with an average price target of $78.00.

First Trust Advisors LP lifted its stake in shares of BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 76.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,586 shares of the mining company's stock after buying an additional 24,430 shares during the period. First Trust Advisors LP's holdings in BHP Group were worth $4,116,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Bayban bought a new position in BHP Group in the 4th quarter valued at approximately $25,000. Hilton Head Capital Partners LLC bought a new stake in BHP Group during the 4th quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new position in BHP Group in the 4th quarter valued at approximately $26,000. Sound Income Strategies LLC raised its stake in shares of BHP Group by 222.1% during 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 during the last quarter. Finally, Whipplewood Advisors LLC raised its stake in shares of BHP Group by 8,320.0% during 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 during the last quarter. 3.79% of the stock is currently owned by institutional investors.

BHP Group Trading Up 4.8%

BHP Group stock opened at $87.48 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.28 and a debt-to-equity ratio of 0.44. BHP Group Limited Sponsored ADR has a 12-month low of $51.13 and a 12-month high of $93.83. The firm's fifty day moving average is $84.87 and its 200 day moving average is $78.79.

Wall Street Analysts Forecast Growth

BHP has been the topic of several analyst reports. Wall Street Zen cut shares of BHP Group from a "buy" rating to a "hold" rating in a research note on Saturday. The Goldman Sachs Group raised BHP Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 17th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of BHP Group in a research note on Thursday, July 2nd. DZ Bank upgraded BHP Group from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Finally, Zacks Research lowered BHP Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" 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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