Short Interest in BHP Group Limited (NYSE:BHP) Grows By 10.3%

BHP Group Limited (NYSE:BHP) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 11,580,000 shares, a growth of 10.3% from the August 31st total of 10,500,000 shares. Based on an average daily volume of 2,410,000 shares, the days-to-cover ratio is currently 4.8 days.

Hedge Funds Weigh In On BHP Group

A number of institutional investors and hedge funds have recently made changes to their positions in BHP. Eagle Bay Advisors LLC raised its stake in BHP Group by 48.9% during the 1st quarter. Eagle Bay Advisors LLC now owns 600 shares of the mining company’s stock worth $35,000 after acquiring an additional 197 shares during the period. Pinnacle West Asset Management Inc. raised its stake in BHP Group by 2.6% during the 2nd quarter. Pinnacle West Asset Management Inc. now owns 7,925 shares of the mining company’s stock worth $452,000 after acquiring an additional 200 shares during the period. Sequoia Financial Advisors LLC raised its stake in BHP Group by 0.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,500 shares of the mining company’s stock worth $1,570,000 after acquiring an additional 202 shares during the period. Ballentine Partners LLC raised its stake in BHP Group by 2.6% during the 1st quarter. Ballentine Partners LLC now owns 8,212 shares of the mining company’s stock worth $474,000 after acquiring an additional 205 shares during the period. Finally, Moody Lynn & Lieberson LLC raised its position in shares of BHP Group by 1.1% during the second quarter. Moody Lynn & Lieberson LLC now owns 19,208 shares of the mining company’s stock valued at $1,097,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 3.79% of the company’s stock.

BHP Group Stock Performance

Shares of BHP traded up $0.27 on Tuesday, reaching $62.38. The company’s stock had a trading volume of 3,065,048 shares, compared to its average volume of 2,508,869. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.70 and a quick ratio of 1.29. The stock has a market capitalization of $158.00 billion, a P/E ratio of 12.83, a PEG ratio of 3.52 and a beta of 0.96. The stock’s 50 day simple moving average is $54.45 and its two-hundred day simple moving average is $56.72. BHP Group has a 12-month low of $50.90 and a 12-month high of $69.11.

BHP Group Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be issued a $1.465 dividend. This is an increase from BHP Group’s previous Semi-Annual dividend of $1.44. The ex-dividend date of this dividend is Friday, September 13th. This represents a dividend yield of 5.2%. BHP Group’s dividend payout ratio (DPR) is presently 60.29%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BHP shares. Sanford C. Bernstein raised shares of BHP Group from a “market perform” rating to an “outperform” rating in a report on Monday, September 16th. Argus raised shares of BHP Group to a “strong-buy” rating in a report on Thursday, September 19th. Finally, StockNews.com raised shares of BHP Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, BHP Group currently has a consensus rating of “Moderate Buy”.

About BHP Group

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.