NewEdge Advisors LLC Sells 24,569 Shares of BHP Group Limited Sponsored ADR $BHP

Key Points

• NewEdge Advisors LLC reduced its BHP Group stake by 23.4% in the first quarter, selling 24,569 shares and retaining 80,455 shares valued at approximately $5.85 million.
• Other institutional investors mostly increased their BHP positions, while institutional ownership overall stood at 3.79% of the company’s stock.
• Analyst sentiment remains cautious: BHP has a consensus “Hold” rating and a $78.00 target price, despite shares opening at $90.59 and trading near their 52-week high of $93.83.

NewEdge Advisors LLC cut its stake in BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 23.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,455 shares of the mining company's stock after selling 24,569 shares during the quarter. NewEdge Advisors LLC's holdings in BHP Group were worth $5,852,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BHP. AQR Capital Management LLC grew its position in BHP Group by 230.0% during the first quarter. AQR Capital Management LLC now owns 31,852 shares of the mining company's stock worth $1,546,000 after buying an additional 22,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of BHP Group by 20.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,594 shares of the mining company's stock worth $660,000 after purchasing an additional 2,331 shares in the last quarter. Invesco Ltd. increased its position in shares of BHP Group by 99.6% in the second quarter. Invesco Ltd. now owns 12,506 shares of the mining company's stock worth $601,000 after purchasing an additional 6,241 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of BHP Group by 173.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,774 shares of the mining company's stock worth $182,000 after purchasing an additional 2,395 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in BHP Group by 13.0% in the second 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 in the last quarter. 3.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on BHP shares. Argus set a $95.00 target price on shares of BHP Group in a research report on Monday, April 27th. The Goldman Sachs Group upgraded shares of 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 research report on Monday, June 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of BHP Group in a research note on Friday, July 17th. Finally, Zacks Research cut BHP Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. One 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 stock. According to MarketBeat, BHP Group has a consensus rating of "Hold" and a consensus target price of $78.00.

BHP Group Price Performance

Shares of NYSE BHP opened at $90.59 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44. The firm's fifty day moving average is $84.92 and its 200 day moving average is $79.49. BHP Group Limited Sponsored ADR has a 52 week low of $51.83 and a 52 week high of $93.83.

BHP Group Company 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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