Brokerages Set BHP Group Limited Sponsored ADR (NYSE:BHP) Price Target at $56.00

Shares of BHP Group Limited Sponsored ADR (NYSE:BHP) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, one has given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $56.00.

A number of brokerages have issued reports on BHP. Argus raised BHP Group from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Tuesday, December 30th. Zacks Research raised BHP Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of BHP Group in a report on Wednesday, October 8th.

BHP Group Price Performance

BHP Group stock opened at $61.72 on Friday. The company’s 50 day simple moving average is $58.02 and its 200-day simple moving average is $55.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.46 and a quick ratio of 1.11. BHP Group has a 1 year low of $39.73 and a 1 year high of $65.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Avantax Advisory Services Inc. increased its holdings in shares of BHP Group by 12.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 143,182 shares of the mining company’s stock valued at $6,886,000 after acquiring an additional 15,398 shares during the last quarter. Abel Hall LLC purchased a new position in BHP Group in the second quarter valued at approximately $349,000. QRG Capital Management Inc. raised its holdings in BHP Group by 20.4% during the second quarter. QRG Capital Management Inc. now owns 189,927 shares of the mining company’s stock worth $9,134,000 after purchasing an additional 32,141 shares in the last quarter. Euro Pacific Asset Management LLC acquired a new stake in BHP Group during the second quarter worth approximately $2,671,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of BHP Group by 5.4% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 301,443 shares of the mining company’s stock worth $14,496,000 after buying an additional 15,326 shares during the last quarter. Hedge funds and other institutional investors own 3.79% of the company’s stock.

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.