Bank of America Downgrades BHP Group (NYSE:BHP) to Neutral

BHP Group (NYSE:BHP) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, Marketbeat Ratings reports.

BHP has been the topic of a number of other reports. Berenberg Bank raised shares of BHP Group from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of BHP Group in a report on Friday, May 15th. The Goldman Sachs Group raised shares of BHP Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Citigroup reissued a “neutral” rating on shares of BHP Group in a research report on Monday, April 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of BHP Group in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, BHP Group has a consensus rating of “Hold” and an average price target of $62.33.

BHP Group Stock Up 1.8%

BHP opened at $85.06 on Friday. BHP Group has a fifty-two week low of $45.74 and a fifty-two week high of $91.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.65 and a quick ratio of 1.28. The company’s 50 day moving average price is $77.05 and its two-hundred day moving average price is $68.90.

Institutional Investors Weigh In On BHP Group

A number of institutional investors have recently modified their holdings of BHP. Bayban bought a new stake in shares of BHP Group in the 4th quarter valued at $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of BHP Group during the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of BHP Group during the 4th quarter valued at $26,000. Sound Income Strategies LLC lifted its position in shares of BHP Group by 222.1% during the 4th quarter. Sound Income Strategies LLC now owns 422 shares of the mining company’s stock valued at $27,000 after acquiring an additional 291 shares during the period. Finally, Whipplewood Advisors LLC lifted its position in shares of BHP Group by 8,320.0% during the 1st quarter. Whipplewood Advisors LLC now owns 421 shares of the mining company’s stock valued at $31,000 after acquiring an additional 416 shares during the period. 3.79% of the stock is owned by institutional investors.

About BHP Group

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.