BHP Group (NYSE:BHP) Cut to “Hold” at Zacks Research

Zacks Research cut shares of BHP Group (NYSE:BHP) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Berenberg Bank upgraded BHP Group from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of BHP Group in a report on Thursday, July 2nd. Wall Street Zen raised BHP Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. DZ Bank raised BHP Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Bank of America decreased their price objective on BHP Group from $93.00 to $91.00 and set a “neutral” rating for the company in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $78.00.

BHP Group Stock Performance

BHP Group stock opened at $83.69 on Wednesday. BHP Group has a 52 week low of $49.68 and a 52 week high of $93.83. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $84.83 and a 200 day moving average price of $77.66.

Hedge Funds Weigh In On BHP Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Bayban purchased a new stake in shares of BHP Group during the fourth quarter worth $25,000. Hilton Head Capital Partners LLC purchased a new position in BHP Group in the fourth quarter valued at about $26,000. Garton & Associates Financial Advisors LLC purchased a new position in BHP Group in the fourth quarter valued at about $26,000. Sound Income Strategies LLC increased its position in BHP Group by 222.1% in the 4th quarter. Sound Income Strategies LLC now owns 422 shares of the mining company’s stock worth $27,000 after purchasing an additional 291 shares during the last quarter. Finally, Whipplewood Advisors LLC raised its stake in shares of BHP Group by 8,320.0% during the 1st quarter. Whipplewood Advisors LLC now owns 421 shares of the mining company’s stock worth $31,000 after purchasing an additional 416 shares in the last quarter. 3.79% of the stock is currently owned by hedge funds and other 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.