BHP Group (NYSE:BHP) Stock Breaks Above 200 Day Moving Average - Should You Sell?

Key Points

• BHP shares moved above their 200-day moving average, reaching $84.73 and last trading near $84.62 versus the $83.82 average.
• Analyst sentiment remains cautious: the consensus rating is “Hold” with a $78.00 target price, below the current share price. Bank of America also cut its target to $91 while maintaining a neutral rating.
• BHP recently paid a $1.98 dividend, while institutional investors and hedge funds collectively own 3.79% of the stock and several firms increased their positions.

BHP Group Limited Sponsored ADR (NYSE:BHP - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $83.82 and traded as high as $84.73. BHP Group shares last traded at $84.6230, with a volume of 3,551,295 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Bank of America reduced their price objective on BHP Group from $93.00 to $91.00 and set a "neutral" rating on the stock in a research note on Monday, June 22nd. Citigroup reissued a "neutral" rating on shares of BHP Group in a research note on Thursday, September 10th. Weiss Ratings raised shares of BHP Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 18th. Zacks Research downgraded shares of BHP Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of BHP Group in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $78.00.

BHP Group Price Performance

The company has a quick ratio of 1.48, a current ratio of 1.88 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average price of $88.80 and a 200 day moving average price of $83.82.

BHP Group Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Friday, September 4th were issued a $1.98 dividend. This represents a yield of 438.0%. The ex-dividend date of this dividend was Friday, September 4th.

Institutional Trading of BHP Group

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of BHP Group by 17.9% in the first quarter. Royal Bank of Canada now owns 1,239,402 shares of the mining company's stock valued at $90,153,000 after buying an additional 188,446 shares during the period. Main Street Research LLC acquired a new stake in BHP Group during the 1st quarter worth approximately $37,767,000. Quantinno Capital Management LP boosted its position in BHP Group by 21.5% during the 1st quarter. Quantinno Capital Management LP now owns 493,604 shares of the mining company's stock worth $35,905,000 after buying an additional 87,378 shares during the period. Norges Bank acquired a new stake in BHP Group during the 4th quarter worth approximately $25,436,000. Finally, Rockefeller Capital Management L.P. grew its holdings in BHP Group by 36.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 417,845 shares of the mining company's stock worth $25,225,000 after acquiring an additional 111,967 shares during the last quarter. 3.79% of the stock is owned by institutional investors and hedge funds.

BHP Group Company Profile

BHP Group Limited is a global resources company headquartered in Melbourne, Australia. Its principal activities include the exploration, development and production of mineral resources, with a portfolio focused on commodities that support infrastructure, electrification and economic growth.

The company is a major producer of iron ore, which it supplies to steelmakers, and copper, used in electrical equipment, construction and renewable-energy technologies. BHP has also been involved in metallurgical coal and potash, an agricultural nutrient.

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