Norges Bank Makes New Investment in BHP Group Limited Sponsored ADR $BHP

Norges Bank purchased a new position in shares of BHP Group Limited Sponsored ADR (NYSE:BHP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 421,334 shares of the mining company’s stock, valued at approximately $25,436,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC lifted its stake in shares of BHP Group by 222.1% in the 4th quarter. Sound Income Strategies LLC now owns 422 shares of the mining company’s stock valued at $27,000 after acquiring an additional 291 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in shares of BHP Group by 68.9% in the 3rd quarter. JFS Wealth Advisors LLC now owns 696 shares of the mining company’s stock valued at $39,000 after acquiring an additional 284 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of BHP Group in the 4th quarter valued at about $39,000. Ameriflex Group Inc. lifted its stake 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 acquiring an additional 359 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new stake in shares of BHP Group in the 3rd quarter valued at about $43,000. Institutional investors own 3.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BHP. The Goldman Sachs Group upgraded BHP Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. Wall Street Zen upgraded BHP Group from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Bank of America downgraded BHP Group from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Argus set a $95.00 price target on BHP Group in a report on Monday, April 27th. Finally, Citigroup restated a “neutral” rating on shares of BHP Group in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.33.

BHP Group Price Performance

BHP stock opened at $85.05 on Wednesday. The stock’s 50 day simple moving average is $81.78 and its 200 day simple moving average is $71.84. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44. BHP Group Limited Sponsored ADR has a 12-month low of $45.74 and a 12-month high of $93.70.

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.