BHP Group (NYSE:BHP) Reaches New 12-Month High – Time to Buy?

Shares of BHP Group Limited Sponsored ADR (NYSE:BHP) hit a new 52-week high during trading on Friday . The stock traded as high as $61.32 and last traded at $61.5090, with a volume of 6063 shares. The stock had previously closed at $60.87.

Wall Street Analysts Forecast Growth

BHP has been the subject of several research reports. Zacks Research upgraded shares of BHP Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Weiss Ratings restated a “hold (c)” rating on shares of BHP Group in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $48.50.

BHP Group Trading Up 1.6%

The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $56.92 and its 200-day simple moving average is $54.23.

Institutional Trading of BHP Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its holdings in BHP Group by 1.3% in the third quarter. Fisher Asset Management LLC now owns 23,149,649 shares of the mining company’s stock valued at $1,290,593,000 after buying an additional 307,397 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in BHP Group by 43.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,951,258 shares of the mining company’s stock valued at $240,334,000 after purchasing an additional 1,490,012 shares in the last quarter. Bank of America Corp DE increased its stake in BHP Group by 25.2% in 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 purchasing an additional 697,316 shares in the last quarter. Northern Trust Corp raised its holdings in BHP Group by 5.3% during the third quarter. Northern Trust Corp now owns 2,443,560 shares of the mining company’s stock worth $136,228,000 after purchasing an additional 123,382 shares during the last quarter. Finally, SIH Partners LLLP boosted its position in BHP Group by 937.5% during the third quarter. SIH Partners LLLP now owns 1,856,704 shares of the mining company’s stock worth $103,511,000 after purchasing an additional 1,677,739 shares in the last quarter. Hedge funds and other institutional investors own 3.79% of the company’s stock.

About BHP Group

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.