BHP Group (NYSE:BHP) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of BHP Group (NYSE:BHP) from a strong-buy rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

BHP has been the subject of a number of other research reports. The Goldman Sachs Group upgraded BHP Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Citigroup reaffirmed a “neutral” rating on shares of BHP Group in a research note on Monday, June 8th. Argus set a $95.00 price objective on BHP Group in a report 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. Finally, DZ Bank raised BHP Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $78.00.

BHP Group Price Performance

BHP Group stock opened at $83.56 on Wednesday. BHP Group has a fifty-two week low of $49.68 and a fifty-two week high of $93.83. The stock’s 50 day simple moving average is $84.85 and its two-hundred day simple moving average is $77.62. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44.

Institutional Investors Weigh In On BHP Group

Several hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its stake in BHP Group by 1.3% in the fourth quarter. Parallel Advisors LLC now owns 12,039 shares of the mining company’s stock worth $727,000 after purchasing an additional 150 shares during the period. Affinity Capital Advisors LLC boosted its stake in shares of BHP Group by 4.1% during the second quarter. Affinity Capital Advisors LLC now owns 3,822 shares of the mining company’s stock valued at $320,000 after purchasing an additional 152 shares during the period. Williams & Novak LLC boosted its stake in shares of BHP Group by 3.7% during the second quarter. Williams & Novak LLC now owns 4,862 shares of the mining company’s stock valued at $405,000 after purchasing an additional 173 shares during the period. Bailard Inc. grew its holdings in shares of BHP Group by 1.4% in the fourth quarter. Bailard Inc. now owns 12,395 shares of the mining company’s stock worth $748,000 after purchasing an additional 174 shares during the last quarter. Finally, Addison Advisors LLC grew its holdings in shares of BHP Group by 31.8% in the fourth quarter. Addison Advisors LLC now owns 751 shares of the mining company’s stock worth $45,000 after purchasing an additional 181 shares during the last quarter. 3.79% of the stock is owned by institutional investors.

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.