BHP Group (LON:BHP) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• BHP Group shares moved above their 200-day moving average, reaching GBX 3,108 and last trading at GBX 3,098, with more than 205 million shares changing hands.
• Analysts remain cautious: six analysts rate the stock “Hold,” with a consensus target price of GBX 3,166.67. Recent targets range from GBX 2,900 to GBX 3,500.
• BHP has a market capitalization of approximately £157.47 billion and trades at a price-to-earnings ratio of 16.04, while its 50-day moving average remains above its 200-day average.

Shares of BHP Group Limited (LON:BHP - Get Free Report) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 3,013.97 and traded as high as GBX 3,108. BHP Group shares last traded at GBX 3,098, with a volume of 205,693,406 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BHP shares. Royal Bank Of Canada restated a "sector perform" rating and set a GBX 2,900 price target on shares of BHP Group in a report on Monday, August 17th. Citigroup upped their price objective on BHP Group from GBX 3,250 to GBX 3,350 and gave the company a "neutral" rating in a report on Thursday, September 10th. Berenberg Bank reiterated a "hold" rating and issued a GBX 3,500 price objective on shares of BHP Group in a report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on BHP Group from GBX 3,050 to GBX 2,900 and set a "hold" rating for the company in a research report on Wednesday, October 21st. Finally, Jefferies Financial Group restated a "hold" rating and issued a GBX 3,350 target price on shares of BHP Group in a research report on Tuesday, August 18th. Six investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of GBX 3,166.67.

BHP Group Trading Up 4.8%

The firm has a market capitalization of £157.47 billion, a price-to-earnings ratio of 16.04, a PEG ratio of -0.78 and a beta of 0.84. The business's 50-day simple moving average is GBX 3,259.28 and its two-hundred day simple moving average is GBX 3,013.97. The company has a quick ratio of 1.37, a current ratio of 1.88 and a debt-to-equity ratio of 53.26.

BHP Group Company Profile

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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