Pinnacle West Asset Management Inc. Invests $758,000 in BHP Group Limited Sponsored ADR $BHP

Pinnacle West Asset Management Inc. acquired a new stake in shares of BHP Group Limited Sponsored ADR (NYSE:BHP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,100 shares of the mining company’s stock, valued at approximately $758,000.

A number of other institutional investors have also made changes to their positions in BHP. AQR Capital Management LLC lifted its holdings in BHP Group by 230.0% in the 1st quarter. AQR Capital Management LLC now owns 31,852 shares of the mining company’s stock worth $1,546,000 after purchasing an additional 22,201 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in BHP Group by 20.7% during the first 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 during the last quarter. Invesco Ltd. raised its position in shares of BHP Group by 99.6% in the second quarter. Invesco Ltd. now owns 12,506 shares of the mining company’s stock valued at $601,000 after purchasing an additional 6,241 shares during the period. EverSource Wealth Advisors LLC raised its position 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 valued at $182,000 after purchasing an additional 2,395 shares during the period. 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 during the last quarter. 3.79% of the stock is owned by institutional investors.

BHP Group Trading Up 3.7%

Shares of BHP Group stock opened at $97.13 on Friday. The company’s fifty day simple moving average is $85.48 and its 200-day simple moving average is $80.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.28 and a current ratio of 1.88. BHP Group Limited Sponsored ADR has a 1 year low of $51.83 and a 1 year high of $97.27.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BHP. DZ Bank raised shares of BHP Group from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Bank of America dropped their target price on shares of BHP Group from $93.00 to $91.00 and set a “neutral” rating on the stock in a report on Monday, June 22nd. Weiss Ratings raised shares of BHP Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Wall Street Zen cut shares of BHP Group from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of BHP Group in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $78.00.

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.