Icon Advisers Inc. Co. Purchases 19,000 Shares of BHP Group Limited Sponsored ADR $BHP

Key Points

• Icon Advisers Inc. Co. increased its BHP Group stake by 47.5% in the first quarter, buying 19,000 additional shares and bringing its total to 59,000 shares worth about $4.29 million.
• Other major institutions also boosted or adjusted positions in BHP, and hedge funds and institutional investors own 3.79% of the stock overall.
• Analyst sentiment is mixed but improving: Goldman Sachs upgraded BHP to strong-buy, and the stock currently carries a Moderate Buy consensus with a target price of $69.50.

Icon Advisers Inc. Co. grew its holdings in shares of BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 47.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,000 shares of the mining company's stock after buying an additional 19,000 shares during the quarter. BHP Group accounts for about 1.0% of Icon Advisers Inc. Co.'s investment portfolio, making the stock its 28th biggest position. Icon Advisers Inc. Co.'s holdings in BHP Group were worth $4,292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BHP. Fisher Asset Management LLC lifted its stake in shares of BHP Group by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 23,402,474 shares of the mining company's stock worth $1,412,807,000 after acquiring an additional 252,825 shares during the last quarter. Morgan Stanley grew its position in BHP Group by 22.8% in the 4th quarter. Morgan Stanley now owns 13,800,183 shares of the mining company's stock valued at $833,117,000 after acquiring an additional 2,562,747 shares during the last quarter. Bank of America Corp DE grew its position in BHP Group by 25.2% in the 3rd quarter. Bank of America Corp DE now owns 3,465,421 shares of the mining company's stock valued at $193,197,000 after acquiring an additional 697,316 shares during the last quarter. Northern Trust Corp increased its stake in BHP Group by 5.3% in the third quarter. Northern Trust Corp now owns 2,443,560 shares of the mining company's stock worth $136,228,000 after purchasing an additional 123,382 shares during the period. Finally, SIH Partners LLLP increased its stake in BHP Group by 937.5% in the third quarter. SIH Partners LLLP now owns 1,856,704 shares of the mining company's stock worth $103,511,000 after purchasing an additional 1,677,739 shares during the period. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BHP. The Goldman Sachs Group upgraded BHP Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 17th. Citigroup restated a "neutral" rating on shares of BHP Group in a report on Monday, June 8th. Berenberg Bank upgraded shares of BHP Group from a "sell" rating to a "hold" rating in a report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of BHP Group in a research report on Thursday, July 2nd. Finally, DZ Bank upgraded shares of BHP Group from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.50.

BHP Group Stock Up 1.4%

Shares of NYSE BHP opened at $84.61 on Thursday. BHP Group Limited Sponsored ADR has a twelve month low of $49.68 and a twelve month high of $93.83. The business has a fifty day simple moving average of $84.95 and a two-hundred day simple moving average of $77.47. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44.

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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