Scotia Capital Inc. Purchases 39,533 Shares of BHP Group Limited Sponsored ADR (NYSE:BHP)

Key Points

• Scotia Capital Inc. significantly increased its stake in BHP Group Limited by 116.5%, acquiring an additional 39,533 shares during the first quarter, bringing its total holdings to 73,458 shares worth approximately $3.57 million.
• Institutional investors currently own 3.79% of BHP's stock, with several firms, including R Squared Ltd and PNC Financial Services, also raising their stakes during the same period.
• Wall Street analysts have issued mixed ratings for BHP Group, with a consensus rating of "Hold" and a price target of around $48.50, amidst recent downgrades from firms like BMO Capital Markets and Argus.

Scotia Capital Inc. increased its position in BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 116.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,458 shares of the mining company's stock after acquiring an additional 39,533 shares during the quarter. Scotia Capital Inc.'s holdings in BHP Group were worth $3,566,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BHP. R Squared Ltd boosted its stake in BHP Group by 65.3% during the 1st quarter. R Squared Ltd now owns 10,730 shares of the mining company's stock valued at $521,000 after purchasing an additional 4,240 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of BHP Group by 2.1% during the first quarter. PNC Financial Services Group Inc. now owns 65,333 shares of the mining company's stock worth $3,171,000 after buying an additional 1,361 shares during the last quarter. Castellan Group boosted its position in shares of BHP Group by 18.3% in the first quarter. Castellan Group now owns 26,635 shares of the mining company's stock valued at $1,293,000 after acquiring an additional 4,120 shares during the period. Cordatus Wealth Management LLC acquired a new stake in shares of BHP Group in the first quarter worth $513,000. Finally, Mesirow Financial Investment Management Inc. grew its stake in shares of BHP Group by 5.1% in the first quarter. Mesirow Financial Investment Management Inc. now owns 10,774 shares of the mining company's stock worth $523,000 after acquiring an additional 526 shares during the last quarter. Institutional investors and hedge funds own 3.79% of the company's stock.

BHP Group Price Performance

Shares of BHP opened at $51.65 on Tuesday. The stock has a market cap of $130.97 billion, a P/E ratio of 11.74 and a beta of 0.80. BHP Group Limited Sponsored ADR has a 1 year low of $39.73 and a 1 year high of $63.21. The stock's 50-day moving average price is $50.13 and its two-hundred day moving average price is $49.28. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.40.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BHP. BMO Capital Markets lowered shares of BHP Group from an "outperform" rating to a "market perform" rating in a research report on Sunday, July 27th. Argus cut BHP Group from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Macquarie lowered BHP Group from an "outperform" rating to a "neutral" rating in a report on Friday, July 18th. Berenberg Bank restated a "sell" rating and set a $44.00 price objective on shares of BHP Group in a research report on Thursday, July 24th. Finally, Sanford C. Bernstein cut BHP Group from an "outperform" rating to a "market perform" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, BHP Group presently has a consensus rating of "Hold" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.