Assetmark Inc. Increases Stock Holdings in BHP Group Limited Sponsored ADR $BHP

Assetmark Inc. boosted its stake in BHP Group Limited Sponsored ADR (NYSE:BHP) by 262.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,645 shares of the mining company’s stock after acquiring an additional 6,987 shares during the period. Assetmark Inc.’s holdings in BHP Group were worth $702,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Gallacher Capital Management LLC raised its holdings in BHP Group by 2.9% in the 1st quarter. Gallacher Capital Management LLC now owns 10,261 shares of the mining company’s stock worth $746,000 after purchasing an additional 294 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of BHP Group by 34.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,811 shares of the mining company’s stock valued at $1,879,000 after purchasing an additional 6,674 shares in the last quarter. Independent Financial Group LLC bought a new stake in shares of BHP Group during the 1st quarter valued at about $525,000. Westover Capital Advisors LLC purchased a new position in shares of BHP Group during the first quarter valued at about $454,000. Finally, Bank of New York Mellon Corp increased its position in shares of BHP Group by 7.4% during the first quarter. Bank of New York Mellon Corp now owns 150,401 shares of the mining company’s stock valued at $10,940,000 after buying an additional 10,340 shares during the period. 3.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BHP shares. Argus set a $95.00 price target on shares of BHP Group in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of BHP Group in a report on Thursday, July 2nd. Bank of America decreased their target price 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. Zacks Research cut BHP Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, DZ Bank upgraded BHP Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. 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’s stock. According to data from MarketBeat, BHP Group presently has a consensus rating of “Hold” and a consensus target price of $78.00.

BHP Group Price Performance

Shares of NYSE BHP opened at $83.69 on Friday. BHP Group Limited Sponsored ADR has a 1 year low of $49.68 and a 1 year high of $93.83. The firm has a 50-day moving average of $84.83 and a 200 day moving average of $77.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.65 and a quick ratio of 1.28.

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.