BHP Group Limited (NYSE:BHP) Short Interest Down 10.0% in March

BHP Group Limited (NYSE:BHP - Get Free Report) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 9,030,000 shares, a drop of 10.0% from the March 15th total of 10,030,000 shares. Based on an average daily volume of 2,610,000 shares, the days-to-cover ratio is presently 3.5 days.

BHP Group Trading Up 0.9 %

Shares of BHP traded up $0.50 during mid-day trading on Monday, hitting $59.07. The company had a trading volume of 2,149,501 shares, compared to its average volume of 2,600,051. The business's 50-day simple moving average is $58.22 and its 200-day simple moving average is $60.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.22. BHP Group has a 1-year low of $54.28 and a 1-year high of $69.11.

BHP Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were given a dividend of $1.44 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a yield of 5.2%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BHP. Salem Investment Counselors Inc. increased its stake in shares of BHP Group by 110.0% in the second quarter. Salem Investment Counselors Inc. now owns 460 shares of the mining company's stock worth $26,000 after buying an additional 241 shares during the last quarter. Covestor Ltd acquired a new stake in BHP Group in the first quarter worth about $26,000. Russell Investments Group Ltd. acquired a new stake in BHP Group in the 1st quarter valued at about $27,000. Eagle Bay Advisors LLC acquired a new stake in BHP Group in the 4th quarter valued at about $28,000. Finally, Rise Advisors LLC acquired a new stake in BHP Group during the 1st quarter worth about $29,000. 3.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on BHP. StockNews.com downgraded shares of BHP Group from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. Liberum Capital restated a "hold" rating on shares of BHP Group in a report on Tuesday, March 5th. Finally, Citigroup upgraded shares of BHP Group from a "neutral" rating to a "buy" rating in a report on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, BHP Group currently has an average rating of "Hold" and an average price target of $50.00.

About BHP Group

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, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.