BHP Group (NYSE:BHP) Hits New 12-Month High – Should You Buy?

BHP Group Limited Sponsored ADR (NYSE:BHP) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $93.75 and last traded at $93.5140, with a volume of 212958 shares trading hands. The stock had previously closed at $92.13.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Zacks Research downgraded BHP Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. Bank of America downgraded BHP Group from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Weiss Ratings restated a “hold (c)” rating on shares of BHP Group in a report on Monday, April 20th. Sanford C. Bernstein decreased their target price on BHP Group from $49.50 to $48.00 and set a “market perform” rating for the company in a research report on Monday, March 9th. Finally, Citigroup reiterated a “neutral” rating on shares of BHP Group in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, BHP Group presently has a consensus rating of “Hold” and an average target price of $62.33.

BHP Group Stock Up 1.6%

The business has a 50 day simple moving average of $83.10 and a 200-day simple moving average of $72.84. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44.

Institutional Investors Weigh In On BHP Group

Large investors have recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its stake in BHP Group by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 23,402,474 shares of the mining company’s stock worth $1,412,807,000 after purchasing an additional 252,825 shares during the period. Morgan Stanley grew its holdings in shares of BHP Group by 22.8% during the fourth quarter. Morgan Stanley now owns 13,800,183 shares of the mining company’s stock worth $833,117,000 after buying an additional 2,562,747 shares in the last quarter. Bank of America Corp DE raised its position in BHP Group by 25.2% in the 3rd quarter. Bank of America Corp DE now owns 3,465,421 shares of the mining company’s stock valued at $193,197,000 after buying an additional 697,316 shares during the last quarter. Northern Trust Corp lifted its stake in BHP Group by 5.3% in the 3rd quarter. Northern Trust Corp now owns 2,443,560 shares of the mining company’s stock valued at $136,228,000 after acquiring an additional 123,382 shares in the last quarter. Finally, SIH Partners LLLP boosted its position in BHP Group by 937.5% during the 3rd quarter. SIH Partners LLLP now owns 1,856,704 shares of the mining company’s stock worth $103,511,000 after acquiring an additional 1,677,739 shares during the last quarter. Institutional investors own 3.79% of the company’s stock.

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.