BHP Group (NYSE:BHP) Shares Gap Down to $53.66

Shares of BHP Group Limited (NYSE:BHP) gapped down prior to trading on Wednesday . The stock had previously closed at $53.66, but opened at $52.36. BHP Group shares last traded at $52.26, with a volume of 570,479 shares changing hands.

Analysts Set New Price Targets

Several research firms recently commented on BHP. Barclays restated an “equal weight” rating on shares of BHP Group in a research report on Thursday, May 30th. Citigroup initiated coverage on BHP Group in a report on Friday, May 31st. They set a “buy” rating for the company. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.00.

BHP Group Price Performance

The stock has a fifty day moving average of $56.49 and a two-hundred day moving average of $57.75. The company has a current ratio of 1.57, a quick ratio of 1.22 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $132.55 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 3.45 and a beta of 0.98.

Institutional Trading of BHP Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Asset Dedication LLC increased its position in BHP Group by 7,516.7% in the 2nd quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock valued at $26,000 after acquiring an additional 451 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in BHP Group in the 2nd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new position in BHP Group during the 2nd quarter worth $27,000. Eagle Bay Advisors LLC bought a new position in BHP Group in the 4th quarter valued at $28,000. Finally, Rise Advisors LLC acquired a new stake in shares of BHP Group in the 1st quarter valued at $29,000. 3.79% of the stock is currently owned by institutional investors and hedge funds.

About BHP Group

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.