BHP Group (NYSE:BHP) Given New $48.00 Price Target at Sanford C. Bernstein

BHP Group (NYSE:BHP) had its price target lowered by Sanford C. Bernstein from $49.50 to $48.00 in a report published on Monday,Benzinga reports. The firm currently has a market perform rating on the mining company’s stock.

Other equities analysts have also issued research reports about the company. Wall Street Zen raised BHP Group from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Citigroup reissued a “neutral” rating on shares of BHP Group in a report on Tuesday, February 10th. Zacks Research raised BHP Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 9th. Argus upgraded BHP Group from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, December 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of BHP Group in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $53.33.

BHP Group Trading Up 1.5%

Shares of BHP Group stock opened at $72.92 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.28 and a current ratio of 1.65. The company has a fifty day simple moving average of $70.31 and a 200-day simple moving average of $61.10. BHP Group has a 12-month low of $39.73 and a 12-month high of $83.21.

BHP Group Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, March 26th. Stockholders of record on Friday, March 6th will be issued a $1.46 dividend. This represents a dividend yield of 399.0%. The ex-dividend date of this dividend is Friday, March 6th.

Hedge Funds Weigh In On BHP Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley grew its stake in shares of BHP Group by 22.8% in the 4th quarter. Morgan Stanley now owns 13,800,183 shares of the mining company’s stock valued at $833,117,000 after purchasing an additional 2,562,747 shares during the last quarter. SIH Partners LLLP raised its stake in shares of 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 during the last quarter. Bank of Montreal Can lifted its holdings in shares of BHP Group by 264.4% during the fourth quarter. Bank of Montreal Can now owns 1,358,585 shares of the mining company’s stock worth $82,018,000 after purchasing an additional 985,794 shares during the period. Bank of America Corp DE lifted its holdings in shares of BHP Group by 25.2% during the third quarter. Bank of America Corp DE now owns 3,465,421 shares of the mining company’s stock worth $193,197,000 after purchasing an additional 697,316 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in BHP Group in the 3rd quarter valued at $27,234,000. Hedge funds and other institutional investors own 3.79% of the company’s stock.

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.