Ovata Capital Management Ltd Acquires 23,500 Shares of BHP Group Limited Sponsored ADR $BHP

Ovata Capital Management Ltd lifted its stake in BHP Group Limited Sponsored ADR (NYSE:BHP) by 103.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,187 shares of the mining company’s stock after purchasing an additional 23,500 shares during the quarter. Ovata Capital Management Ltd’s holdings in BHP Group were worth $2,806,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BHP. AQR Capital Management LLC grew its position in BHP Group by 230.0% during the 1st quarter. AQR Capital Management LLC now owns 31,852 shares of the mining company’s stock valued at $1,546,000 after purchasing an additional 22,201 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in BHP Group by 20.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,594 shares of the mining company’s stock valued at $660,000 after purchasing an additional 2,331 shares in the last quarter. Invesco Ltd. raised its holdings in BHP Group by 99.6% in the second quarter. Invesco Ltd. now owns 12,506 shares of the mining company’s stock worth $601,000 after buying an additional 6,241 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of BHP Group by 173.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,774 shares of the mining company’s stock worth $182,000 after buying an additional 2,395 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in shares of BHP Group by 13.0% in the second quarter. Guggenheim Capital LLC now owns 16,692 shares of the mining company’s stock worth $803,000 after buying an additional 1,917 shares in the last quarter. Hedge funds and other institutional investors own 3.79% of the company’s stock.

Analyst Upgrades and Downgrades

BHP has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BHP Group in a research report on Monday, April 20th. Citigroup reissued a “neutral” rating on shares of BHP Group in a research report on Monday, June 8th. Sanford C. Bernstein lowered their target price on shares of BHP Group from $49.50 to $48.00 and set a “market perform” rating on the stock in a research note on Monday, March 9th. DZ Bank raised shares of BHP Group from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Berenberg Bank upgraded shares of BHP Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $62.33.

BHP Group Stock Up 0.2%

Shares of BHP Group stock opened at $88.08 on Friday. The stock’s 50-day simple moving average is $84.36 and its 200-day simple moving average is $73.69. BHP Group Limited Sponsored ADR has a 52 week low of $45.74 and a 52 week high of $93.83. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.28 and a current ratio of 1.65.

BHP Group News Roundup

Here are the key news stories impacting BHP Group this week:

• Negative Sentiment: BHP will take a $2.3 billion charge on its Jansen potash mine after costs jumped again and the project was delayed, signaling weaker near-term earnings and a larger-than-expected budget overrun. Reuters: BHP flags cost overrun at Jansen potash project, to book $2.3 billion charge
• Negative Sentiment: Market reaction has been negative, with BHP shares falling sharply in Australia after the announcement, reflecting investor concern that the mining giant is facing repeated cost inflation and execution risk on a major growth project. Proactive Investors: BHP shares drop on $2.3B write-down at Canadian potash project
• Neutral Sentiment: Other coverage also highlighted that the Jansen expansion is now expected to cost about $2 billion more than previously planned, reinforcing uncertainty around project economics and the timing of future potash production. Wall Street Journal: BHP Raises Potash Project Costs, Flags $2.3 Billion Write-Down

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.