BHP Group Limited Sponsored ADR $BHP Position Boosted by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its holdings in BHP Group Limited Sponsored ADR (NYSE:BHP) by 26.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 51,721 shares of the mining company’s stock after acquiring an additional 10,958 shares during the quarter. Ritholtz Wealth Management’s holdings in BHP Group were worth $3,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BHP. Morgan Stanley lifted its stake in BHP Group by 22.8% during the fourth quarter. Morgan Stanley now owns 13,800,183 shares of the mining company’s stock valued at $833,117,000 after purchasing an additional 2,562,747 shares during the last quarter. SIH Partners LLLP grew its position in BHP Group by 937.5% in the third quarter. SIH Partners LLLP now owns 1,856,704 shares of the mining company’s stock worth $103,511,000 after buying an additional 1,677,739 shares during the last quarter. Bank of Montreal Can grew its position in BHP Group by 264.4% in the fourth quarter. Bank of Montreal Can now owns 1,358,585 shares of the mining company’s stock worth $82,018,000 after buying an additional 985,794 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of BHP Group by 25.2% in the third quarter. Bank of America Corp DE now owns 3,465,421 shares of the mining company’s stock valued at $193,197,000 after buying an additional 697,316 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of BHP Group in the third quarter valued at $27,234,000. 3.79% of the stock is currently owned by institutional investors.

BHP Group Trading Up 0.6%

BHP stock opened at $81.18 on Friday. BHP Group Limited Sponsored ADR has a 12-month low of $47.49 and a 12-month high of $93.83. The company has a current ratio of 1.65, a quick ratio of 1.28 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $84.73 and a two-hundred day moving average of $74.52.

Analysts Set New Price Targets

Several research firms have recently weighed in on BHP. Argus set a $95.00 price objective on BHP Group in a research note on Monday, April 27th. Berenberg Bank raised BHP Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Citigroup reaffirmed a “neutral” rating on shares of BHP Group in a report on Monday, June 8th. The Goldman Sachs Group raised BHP Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Finally, DZ Bank upgraded BHP Group from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $69.50.

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.