BHP Group (NYSE:BHP) Given New $91.00 Price Target at Bank of America

BHP Group (NYSE:BHP) had its price objective decreased by research analysts at Bank of America from $93.00 to $91.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the mining company’s stock. Bank of America‘s price target would indicate a potential upside of 5.61% from the stock’s current price.

A number of other research firms also recently commented on BHP. Zacks Research downgraded shares of BHP Group from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Weiss Ratings restated a “hold (c)” rating on shares of BHP Group in a report on Monday, April 20th. DZ Bank raised shares of BHP Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of BHP Group in a research note on Friday, May 15th. Finally, Sanford C. Bernstein dropped their target price on shares of BHP Group from $49.50 to $48.00 and set a “market perform” rating for the company in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $69.50.

BHP Group Stock Performance

Shares of NYSE BHP opened at $86.17 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44. The firm’s 50 day simple moving average is $84.36 and its 200-day simple moving average is $73.82. BHP Group has a 12 month low of $45.74 and a 12 month high of $93.83.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BHP. Empowered Funds LLC lifted its position in shares of BHP Group by 87.3% during the 1st quarter. Empowered Funds LLC now owns 10,864 shares of the mining company’s stock valued at $790,000 after acquiring an additional 5,064 shares during the period. Rathbones Group PLC increased its stake in BHP Group by 30.3% in the 1st quarter. Rathbones Group PLC now owns 6,016 shares of the mining company’s stock valued at $438,000 after purchasing an additional 1,400 shares in the last quarter. Parallel Advisors LLC raised its holdings in BHP Group by 35.2% during the first quarter. Parallel Advisors LLC now owns 16,282 shares of the mining company’s stock worth $1,184,000 after purchasing an additional 4,243 shares during the last quarter. Alpine Woods Capital Investors LLC acquired a new position in BHP Group during the first quarter worth $980,000. Finally, Glenmede Trust Co. NA boosted its position in BHP Group by 36.9% during the first quarter. Glenmede Trust Co. NA now owns 12,351 shares of the mining company’s stock worth $898,000 after purchasing an additional 3,332 shares in the last quarter. Hedge funds and other 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.