Argus Upgrades BHP Group (NYSE:BHP) to Buy

BHP Group (NYSE:BHP) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $68.00 price target on the mining company’s stock. Argus’ target price would suggest a potential upside of 12.60% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of BHP Group in a research note on Wednesday, October 8th. Zacks Research upgraded BHP Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 9th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.00.

BHP Group Trading Down 2.4%

Shares of BHP opened at $60.39 on Tuesday. The stock has a fifty day moving average price of $56.99 and a two-hundred day moving average price of $54.33. The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.43. BHP Group has a 52-week low of $39.73 and a 52-week high of $62.01.

Hedge Funds Weigh In On BHP Group

Several hedge funds have recently modified their holdings of the stock. Caldwell Trust Co acquired a new stake in shares of BHP Group in the second quarter valued at about $31,000. Hilltop National Bank bought a new position in BHP Group in the second quarter valued at approximately $32,000. Salomon & Ludwin LLC increased its position in shares of BHP Group by 3,040.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 691 shares of the mining company’s stock worth $38,000 after purchasing an additional 669 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in shares of BHP Group by 68.9% during the 3rd quarter. JFS Wealth Advisors LLC now owns 696 shares of the mining company’s stock worth $39,000 after purchasing an additional 284 shares in the last quarter. Finally, Ameriflex Group Inc. boosted its holdings in shares of BHP Group by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 718 shares of the mining company’s stock valued at $40,000 after buying an additional 359 shares during the last quarter. Institutional investors own 3.79% of the company’s stock.

About BHP Group

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.