BHP Group (NYSE:BHP) Upgraded to Buy at Bank of America

Bank of America upgraded shares of BHP Group (NYSE:BHPGet Rating) from a neutral rating to a buy rating in a report released on Wednesday morning, The Fly reports.

BHP has been the topic of several other reports. Credit Suisse Group raised their target price on BHP Group from GBX 2,200 ($26.01) to GBX 2,300 ($27.20) in a report on Wednesday, August 17th. StockNews.com upgraded BHP Group from a buy rating to a strong-buy rating in a report on Tuesday, November 15th. JPMorgan Chase & Co. raised their target price on BHP Group from GBX 2,310 ($27.31) to GBX 2,330 ($27.55) in a report on Thursday, October 20th. Barclays raised their price objective on BHP Group from GBX 2,200 ($26.01) to GBX 2,250 ($26.61) in a research note on Friday, October 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on BHP Group from GBX 2,100 ($24.83) to GBX 2,200 ($26.01) in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, BHP Group presently has an average rating of Hold and a consensus target price of $1,913.20.

BHP Group Stock Up 2.2 %

Shares of NYSE:BHP opened at $60.04 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.40 and a debt-to-equity ratio of 0.28. BHP Group has a one year low of $46.92 and a one year high of $79.66. The business’s 50-day simple moving average is $51.70 and its 200 day simple moving average is $55.64.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BHP. Fisher Asset Management LLC grew its position in shares of BHP Group by 116.7% in the 1st quarter. Fisher Asset Management LLC now owns 16,904,899 shares of the mining company’s stock worth $1,305,903,000 after acquiring an additional 9,102,674 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of BHP Group by 119.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,338,797 shares of the mining company’s stock worth $798,672,000 after acquiring an additional 5,632,545 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of BHP Group by 136.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,000 shares of the mining company’s stock worth $226,884,000 after acquiring an additional 1,696,427 shares in the last quarter. State Farm Mutual Automobile Insurance Co. acquired a new position in shares of BHP Group in the 1st quarter worth approximately $104,205,000. Finally, Bank of Montreal Can grew its position in shares of BHP Group by 233.4% in the 3rd quarter. Bank of Montreal Can now owns 1,192,159 shares of the mining company’s stock worth $63,054,000 after acquiring an additional 834,544 shares in the last quarter. Institutional investors and hedge funds own 6.53% of the company’s stock.

BHP Group Company Profile

(Get Rating)

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.

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