StockNews.com Downgrades BHP Group (NYSE:BHP) to Buy

BHP Group (NYSE:BHP) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday.

Several other equities research analysts also recently weighed in on BHP. Argus upgraded BHP Group to a “strong-buy” rating in a report on Thursday, September 19th. Jefferies Financial Group cut shares of BHP Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $72.00 to $68.00 in a report on Friday, October 4th. Finally, Sanford C. Bernstein upgraded shares of BHP Group from a “market perform” rating to an “outperform” rating in a report on Monday, September 16th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, BHP Group currently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

BHP Group Stock Performance

NYSE:BHP opened at $52.68 on Monday. BHP Group has a 52 week low of $50.90 and a 52 week high of $69.11. The company has a fifty day simple moving average of $56.51 and a two-hundred day simple moving average of $56.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.29 and a current ratio of 1.70.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Pinnacle West Asset Management Inc. lifted its position in BHP Group by 2.6% in the second quarter. Pinnacle West Asset Management Inc. now owns 7,925 shares of the mining company’s stock valued at $452,000 after acquiring an additional 200 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of BHP Group by 0.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,500 shares of the mining company’s stock valued at $1,570,000 after purchasing an additional 202 shares during the period. Bleakley Financial Group LLC boosted its position in shares of BHP Group by 4.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 5,101 shares of the mining company’s stock valued at $317,000 after purchasing an additional 203 shares during the period. Huntington National Bank grew its stake in BHP Group by 17.5% during the 3rd quarter. Huntington National Bank now owns 1,365 shares of the mining company’s stock worth $85,000 after buying an additional 203 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC increased its position in BHP Group by 1.1% during the second quarter. Moody Lynn & Lieberson LLC now owns 19,208 shares of the mining company’s stock worth $1,097,000 after buying an additional 208 shares during the period. Institutional investors and hedge funds own 3.79% of the company’s stock.

BHP Group Company Profile

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, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.