BHP Group (NYSE:BHP) Reaches New 52-Week High Following Dividend Announcement

Shares of BHP Group Limited Sponsored ADR (NYSE:BHP) reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as $97.83 and last traded at $97.2210, with a volume of 3964831 shares. The stock had previously closed at $97.03.

The newly announced dividend which will be paid on Wednesday, September 23rd. Shareholders of record on Friday, September 4th will be issued a dividend of $1.98 per share. This represents a yield of 404.0%. The ex-dividend date of this dividend is Friday, September 4th.

Wall Street Analyst Weigh In

Several analysts have commented on BHP shares. Weiss Ratings raised BHP Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of BHP Group in a research report on Thursday, July 2nd. Zacks Research downgraded BHP Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. DZ Bank raised shares of BHP Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Citigroup restated a “neutral” rating on shares of BHP Group in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $78.00.

BHP Group Trading Down 2.4%

The business has a fifty day moving average of $85.82 and a two-hundred day moving average of $81.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.88.

Institutional Trading of BHP Group

Several hedge funds and other institutional investors have recently bought and sold shares of BHP. Main Street Research LLC bought a new position in BHP Group in the 1st quarter worth about $37,767,000. Ferguson Wellman Capital Management Inc. purchased a new position in BHP Group in the first quarter worth about $18,591,000. Icon Advisers Inc. Co. lifted its stake in shares of BHP Group by 47.5% in the first quarter. Icon Advisers Inc. Co. now owns 59,000 shares of the mining company’s stock worth $4,292,000 after buying an additional 19,000 shares in the last quarter. Primoris Wealth Advisors LLC purchased a new stake in shares of BHP Group during the fourth quarter valued at approximately $1,389,000. Finally, Himension Capital Singapore PTE. LTD. purchased a new position in BHP Group in the 1st quarter worth approximately $1,705,000. Institutional investors and hedge funds own 3.79% of the company’s stock.

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.