BHP Group (NYSE:BHP) Sees Strong Trading Volume Following Analyst Upgrade

Shares of BHP Group Limited (NYSE:BHPGet Rating) saw unusually-strong trading volume on Friday after JPMorgan Chase & Co. raised their price target on the stock from GBX 2,450 to GBX 2,500. Approximately 197,015 shares changed hands during mid-day trading, a decline of 94% from the previous session’s volume of 3,061,874 shares.The stock last traded at $68.57 and had previously closed at $68.88.

Several other analysts have also recently commented on BHP. Berenberg Bank upgraded BHP Group from a “hold” rating to a “buy” rating in a research report on Thursday, January 12th. The Goldman Sachs Group cut shares of BHP Group from a “buy” rating to a “neutral” rating in a research note on Thursday, November 24th. Barclays upped their price target on shares of BHP Group from GBX 2,200 ($26.85) to GBX 2,250 ($27.46) in a research note on Friday, October 21st. Bank of America raised shares of BHP Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 23rd. Finally, CLSA lowered shares of BHP Group from an “outperform” rating to an “underperform” rating in a research note on Tuesday, January 17th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $1,901.52.

Institutional Investors Weigh In On BHP Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its position in BHP Group by 119.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,338,797 shares of the mining company’s stock worth $798,672,000 after purchasing an additional 5,632,545 shares in the last quarter. Bank of Montreal Can raised its position in BHP Group by 233.4% during the third quarter. Bank of Montreal Can now owns 1,192,159 shares of the mining company’s stock valued at $63,054,000 after buying an additional 834,544 shares during the period. Franklin Resources Inc. lifted its stake in BHP Group by 53.7% in the 2nd quarter. Franklin Resources Inc. now owns 2,302,142 shares of the mining company’s stock worth $129,334,000 after acquiring an additional 804,469 shares in the last quarter. Royal Bank of Canada boosted its position in BHP Group by 96.4% during the 1st quarter. Royal Bank of Canada now owns 1,463,194 shares of the mining company’s stock worth $113,033,000 after acquiring an additional 718,247 shares during the period. Finally, UBS Group AG grew its stake in BHP Group by 646.4% during the 2nd quarter. UBS Group AG now owns 525,386 shares of the mining company’s stock valued at $29,516,000 after acquiring an additional 621,544 shares in the last quarter. Institutional investors and hedge funds own 5.90% of the company’s stock.

BHP Group Stock Performance

The business has a fifty day moving average price of $62.84 and a two-hundred day moving average price of $55.90. The company has a quick ratio of 1.40, a current ratio of 1.69 and a debt-to-equity ratio of 0.28.

About BHP Group

(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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