BHP Group (NYSE:BHP) Upgraded at Zacks Research

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

BHP has been the subject of a number of other research reports. Citigroup reaffirmed a “neutral” rating on shares of BHP Group in a research note on Wednesday, August 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BHP Group in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, BHP Group has a consensus rating of “Hold” and an average target price of $48.50.

BHP Group Stock Performance

Shares of BHP opened at $60.90 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.46 and a quick ratio of 1.11. BHP Group has a 1 year low of $39.73 and a 1 year high of $61.27. The company’s 50 day simple moving average is $55.97 and its 200 day simple moving average is $53.39.

Institutional Investors Weigh In On BHP Group

Several institutional investors have recently bought and sold shares of BHP. SIH Partners LLLP raised its stake in shares of BHP Group by 937.5% in the 3rd quarter. SIH Partners LLLP now owns 1,856,704 shares of the mining company’s stock valued at $103,511,000 after acquiring an additional 1,677,739 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of BHP Group by 43.0% during the first quarter. Goldman Sachs Group Inc. now owns 4,951,258 shares of the mining company’s stock worth $240,334,000 after purchasing an additional 1,490,012 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of BHP Group in the second quarter valued at about $68,953,000. Bank of America Corp DE raised its holdings in shares of BHP Group by 25.2% during the 3rd 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 during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in BHP Group during the 3rd quarter worth approximately $27,234,000. 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.