BHP Group (NYSE:BHP) Sets New 12-Month High – Time to Buy?

BHP Group Limited Sponsored ADR (NYSE:BHP)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $61.32 and last traded at $61.5090, with a volume of 6063 shares. The stock had previously closed at $60.87.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Zacks Research upgraded BHP Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Weiss Ratings reissued a “hold (c)” rating on shares of BHP Group in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.50.

BHP Group Trading Up 1.0%

The company’s 50 day moving average is $56.80 and its 200 day moving average is $54.12. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Prime Capital Investment Advisors LLC increased its holdings in BHP Group by 3.4% during the second quarter. Prime Capital Investment Advisors LLC now owns 5,523 shares of the mining company’s stock valued at $266,000 after buying an additional 184 shares during the period. Financial Management Professionals Inc. raised its position in shares of BHP Group by 3.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 6,418 shares of the mining company’s stock worth $358,000 after acquiring an additional 185 shares in the last quarter. TT Capital Management LLC lifted its stake in shares of BHP Group by 3.5% during the 2nd quarter. TT Capital Management LLC now owns 5,617 shares of the mining company’s stock worth $270,000 after purchasing an additional 190 shares during the last quarter. Naviter Wealth LLC grew its stake in BHP Group by 0.4% in the third quarter. Naviter Wealth LLC now owns 50,715 shares of the mining company’s stock valued at $2,827,000 after purchasing an additional 191 shares during the last quarter. Finally, Highline Wealth Partners LLC raised its holdings in BHP Group by 1.9% in the third quarter. Highline Wealth Partners LLC now owns 10,387 shares of the mining company’s stock worth $579,000 after purchasing an additional 195 shares in the last quarter. Institutional investors own 3.79% of the company’s stock.

BHP Group Company Profile

BHP Group is an Anglo-Australian natural resources company engaged principally in the exploration, development, production and marketing of commodities. Its core businesses include the extraction and processing of iron ore, copper, metallurgical and thermal coal, nickel and other minerals. BHP operates large-scale mining and processing assets and supplies raw materials used across steelmaking, energy and industrial supply chains.

The company has a global operating footprint with significant assets and projects in Australia and the Americas, and commercial activities that serve customers worldwide.