BHP Group (NYSE:BHP) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of BHP Group (NYSE:BHP) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

BHP has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of BHP Group in a research report on Friday, May 15th. DZ Bank upgraded shares of BHP Group from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Citigroup reissued a “neutral” rating on shares of BHP Group in a report on Monday, June 8th. Wall Street Zen downgraded BHP Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of BHP Group in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $69.50.

BHP Group Trading Down 1.9%

NYSE:BHP opened at $80.66 on Tuesday. BHP Group has a 1 year low of $46.42 and a 1 year high of $93.83. The business has a fifty day moving average of $84.69 and a 200-day moving average of $74.36. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.65 and a quick ratio of 1.28.

Hedge Funds Weigh In On BHP Group

A number of hedge funds have recently modified their holdings of BHP. Morgan Stanley boosted its position in shares of BHP Group by 22.8% in the 4th 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 period. SIH Partners LLLP raised its holdings in BHP Group by 937.5% during the 3rd 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 period. Bank of Montreal Can lifted its stake in BHP Group by 264.4% during the fourth quarter. Bank of Montreal Can now owns 1,358,585 shares of the mining company’s stock valued at $82,018,000 after buying an additional 985,794 shares in the last quarter. Bank of America Corp DE lifted its stake in BHP Group by 25.2% during 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, Main Street Research LLC purchased a new stake in BHP Group during the first quarter valued at about $37,767,000. 3.79% of the stock is currently owned by institutional investors and hedge funds.

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.