QRG Capital Management Inc. Increases Stake in BHP Group Limited Sponsored ADR $BHP

Key Points

• QRG Capital Management increased its BHP stake by 16.1% in the second quarter, adding 27,728 shares to hold 199,492 shares valued at approximately $16.62 million.
• Several other institutional investors also initiated or expanded positions, though hedge funds and institutions collectively own just 3.79% of BHP’s stock.
• BHP shares opened at $84.93, within a 12-month range of $52.18 to $98.71. Analysts have an overall “Hold” consensus, with a $78 average price target, while the company recently paid a $1.98-per-share dividend.

QRG Capital Management Inc. boosted its position in shares of BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 16.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 199,492 shares of the mining company's stock after purchasing an additional 27,728 shares during the period. QRG Capital Management Inc.'s holdings in BHP Group were worth $16,620,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BHP. Main Street Research LLC bought a new stake in shares of BHP Group during the 1st quarter worth approximately $37,767,000. Ferguson Wellman Capital Management Inc. bought a new stake in shares of BHP Group during the first quarter worth $18,591,000. Icon Advisers Inc. Co. boosted its stake in shares of BHP Group by 47.5% during the first quarter. Icon Advisers Inc. Co. now owns 59,000 shares of the mining company's stock valued at $4,292,000 after purchasing an additional 19,000 shares during the period. Himension Capital Singapore PTE. LTD. purchased a new stake in shares of BHP Group during the first quarter valued at $1,705,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of BHP Group by 36.3% in the first quarter. The Manufacturers Life Insurance Company now owns 113,707 shares of the mining company's stock worth $8,271,000 after purchasing an additional 30,294 shares during the last quarter. 3.79% of the stock is owned by hedge funds and other institutional investors.

BHP Group Price Performance

BHP opened at $84.93 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.88 and a quick ratio of 1.48. BHP Group Limited Sponsored ADR has a 12 month low of $52.18 and a 12 month high of $98.71. The stock has a fifty day moving average price of $88.49 and a 200-day moving average price of $83.28.

BHP Group Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Friday, September 4th were given a dividend of $1.98 per share. This represents a dividend yield of 438.0%. The ex-dividend date of this dividend was Friday, September 4th.

Wall Street Analyst Weigh In

BHP has been the subject of several research reports. DZ Bank raised shares of BHP Group from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Citigroup restated a "neutral" rating on shares of BHP Group in a report on Thursday, September 10th. Wall Street Zen lowered BHP Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of BHP Group in a research report on Thursday, July 2nd. Finally, Bank of America lowered their price objective on shares of BHP Group from $93.00 to $91.00 and set a "neutral" rating for the company in a research note on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $78.00.

About BHP Group

BHP Group Limited is a global resources company headquartered in Melbourne, Australia. The company explores, develops and produces commodities that support industrial activity, infrastructure and the energy transition, with operations and projects spanning Australia, Chile, Brazil and other regions.

BHP's principal products include iron ore, copper and metallurgical coal. Its iron ore business operates primarily in Western Australia, while its copper portfolio includes major mining operations in Chile and the Olympic Dam complex in South Australia.

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