BHP Group (NYSE:BHP) Upgraded to “Buy” at Argus

Argus upgraded shares of BHP Group (NYSE:BHP) from a hold rating to a buy rating in a research note published on Tuesday morning, Marketbeat Ratings reports. Argus currently has $68.00 price target on the mining company’s stock.

A number of other research firms have also recently issued reports on BHP. Zacks Research raised BHP Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Weiss Ratings reissued a “hold (c)” rating on shares of BHP Group in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BHP Group currently has an average rating of “Hold” and an average target price of $55.00.

BHP Group Stock Performance

NYSE BHP opened at $60.89 on Tuesday. BHP Group has a 1-year low of $39.73 and a 1-year high of $62.01. The company has a 50 day moving average of $57.09 and a 200-day moving average of $54.42. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On BHP Group

A number of institutional investors and hedge funds have recently modified their holdings of BHP. Caldwell Trust Co bought a new position in BHP Group in the second quarter valued at approximately $31,000. Hilltop National Bank bought a new stake in BHP Group in the second quarter valued at about $32,000. Salomon & Ludwin LLC increased its holdings in BHP Group by 3,040.9% in the third quarter. Salomon & Ludwin LLC now owns 691 shares of the mining company’s stock valued at $38,000 after purchasing an additional 669 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in BHP Group by 68.9% during the third quarter. JFS Wealth Advisors LLC now owns 696 shares of the mining company’s stock worth $39,000 after buying an additional 284 shares during the last quarter. Finally, Ameriflex Group Inc. boosted its holdings in BHP Group by 100.0% during the third quarter. Ameriflex Group Inc. now owns 718 shares of the mining company’s stock worth $40,000 after buying an additional 359 shares during the last quarter. 3.79% of the stock is owned by institutional investors.

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.