BHP Group (NYSE:BHP) Cut to Buy at StockNews.com

BHP Group (NYSE:BHP) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Monday.

Several other equities analysts have also recently weighed in on BHP. Jefferies Financial Group cut BHP Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $72.00 to $68.00 in a research note on Friday, October 4th. Sanford C. Bernstein raised BHP Group from a “market perform” rating to an “outperform” rating in a report on Monday, September 16th. Finally, Argus raised BHP Group to a “strong-buy” rating in a report on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.00.

BHP Group Trading Up 1.2 %

NYSE:BHP traded up $0.62 on Monday, reaching $52.47. 2,486,896 shares of the stock traded hands, compared to its average volume of 2,464,979. BHP Group has a 1-year low of $50.90 and a 1-year high of $69.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.29 and a current ratio of 1.70. The company’s 50 day moving average is $56.49 and its 200-day moving average is $56.50.

Institutional Investors Weigh In On BHP Group

Hedge funds have recently made changes to their positions in the company. Asset Dedication LLC lifted its stake in shares of BHP Group by 7,516.7% during the 2nd quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock worth $26,000 after purchasing an additional 451 shares during the last quarter. Eastern Bank purchased a new stake in shares of BHP Group during the 3rd quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of BHP Group during the 2nd quarter worth $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of BHP Group during the 2nd quarter worth $27,000. Finally, Sound Income Strategies LLC lifted its stake in shares of BHP Group by 124.6% during the 3rd quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock worth $33,000 after purchasing an additional 294 shares during the last quarter. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

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, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.