BHP Group (LON:BHP) Trading Down 1.2% - Here's What Happened

Key Points

• BHP Group shares fell 1.2% to GBX 3,401 in midday trading, with volume down 89% from the average session level.
• Analysts remain cautious: six research firms rate the stock “Hold” overall, despite Citigroup raising its price target to £350.
• BHP has a £172.87 billion market capitalization, a P/E ratio of 17.60, and trades above both its 50-day and 200-day moving averages.

BHP Group Limited (LON:BHP - Get Free Report) shares traded down 1.2% on Wednesday . The stock traded as low as GBX 3,384 and last traded at GBX 3,401. Approximately 398,244 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 3,675,799 shares. The stock had previously closed at GBX 3,441.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Citigroup raised their target price on shares of BHP Group from £290 to £350 and gave the stock a "neutral" rating in a report on Monday, June 8th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a GBX 2,700 price target on shares of BHP Group in a research report on Wednesday, August 19th. Berenberg Bank reiterated a "hold" rating and set a GBX 3,400 price objective on shares of BHP Group in a research report on Wednesday, August 19th. Royal Bank Of Canada reissued a "sector perform" rating and issued a GBX 2,900 target price on shares of BHP Group in a research report on Monday, August 17th. Finally, Jefferies Financial Group reiterated 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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, BHP Group presently has a consensus rating of "Hold" and an average price target of GBX 8,391.67.

BHP Group Price Performance

The stock's 50-day moving average is GBX 3,254.30 and its 200-day moving average is GBX 3,077.42. The company has a quick ratio of 1.37, a current ratio of 1.88 and a debt-to-equity ratio of 53.26. The firm has a market cap of £172.87 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of -0.78 and a beta of 0.84.

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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