BHP Group (NYSE:BHP) Reaches New 12-Month High – Here’s Why

BHP Group Limited Sponsored ADR (NYSE:BHP)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $93.83 and last traded at $93.0610, with a volume of 1658536 shares traded. The stock had previously closed at $89.09.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BHP shares. Citigroup reissued a “neutral” rating on shares of BHP Group in a research note on Monday, June 8th. Weiss Ratings raised BHP Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Zacks Research cut BHP Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of BHP Group in a research note on Thursday, July 2nd. Finally, Bank of America reduced their price objective on BHP Group from $93.00 to $91.00 and set a “neutral” rating on the stock in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $78.00.

BHP Group Stock Performance

The business’s 50-day moving average price is $85.36 and its 200 day moving average price is $80.68. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.28 and a current ratio of 1.88.

Hedge Funds Weigh In On BHP Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHP. Bayban purchased a new stake in shares of BHP Group during the fourth quarter worth about $25,000. Whipplewood Advisors LLC boosted its holdings in BHP Group by 8,320.0% in the first quarter. Whipplewood Advisors LLC now owns 421 shares of the mining company’s stock valued at $31,000 after purchasing an additional 416 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in BHP Group in the fourth quarter valued at about $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in BHP Group during the 4th quarter valued at approximately $26,000. Finally, Ascentis Independent Advisors acquired a new stake in BHP Group during the 1st quarter valued at approximately $45,000. 3.79% of the stock is owned by hedge funds and other institutional investors.

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.