JPMorgan Chase & Co. Issues Pessimistic Forecast for BHP Group (LON:BHP) Stock Price

Key Points

• JPMorgan Chase & Co. cut its price target on BHP Group from GBX 3,400 to GBX 3,000 and kept a neutral rating, implying a slight downside from the prior close.
• Other analysts were also mostly cautious: Jefferies and Berenberg reiterated hold ratings, while Citigroup raised its target but still kept a neutral view.
• BHP opened at GBX 3,024 and remains a large, financially significant miner, with a market cap of £153.64 billion and a trading range over the past year of GBX 1,769.23 to GBX 3,495.

BHP Group (LON:BHP - Get Free Report) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from GBX 3,400 to GBX 3,000 in a research report issued to clients and investors on Friday,London Stock Exchange reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential downside of 0.79% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group reaffirmed a "hold" rating and issued a GBX 3,350 price objective on shares of BHP Group in a research report on Monday. Citigroup lifted their target price on shares of BHP Group from £290 to £350 and gave the stock a "neutral" rating in a research report on Monday, June 8th. Finally, Berenberg Bank reaffirmed a "hold" rating and issued a GBX 2,500 target price on shares of BHP Group in a report on Thursday, April 23rd. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, BHP Group has an average rating of "Hold" and a consensus target price of GBX 9,150.

BHP Group Stock Performance

LON BHP opened at GBX 3,024 on Friday. The company has a fifty day moving average price of GBX 3,167.27 and a 200-day moving average price of GBX 2,824.91. The firm has a market cap of £153.64 billion, a price-to-earnings ratio of 15.02, a PEG ratio of -0.78 and a beta of 0.83. The company has a debt-to-equity ratio of 62.55, a current ratio of 1.65 and a quick ratio of 1.37. BHP Group has a 1 year low of GBX 1,769.23 and a 1 year high of GBX 3,495.

About BHP Group

We are a world-leading resources company, focused on the resources the world needs to grow and decarbonise. Copper for renewable energy. Potash for sustainable farming. Iron ore and metallurgical coal for the steel needed for global infrastructure and the energy transition. A resources mix for today and for the future. Our strategy is to deliver long-term value and returns through the cycle. We aim to do this through owning a portfolio of world class assets with exposure to highly attractive commodities that benefit from the mega-trends playing out in the world around us, by operating them exceptionally well, by maintaining a disciplined approach to capital allocation and through being industry leaders in sustainability and the creation of social value. We are a global business with over 9,000 suppliers around the world, many of which are small to medium-sized businesses that are local to our assets.

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