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

BHP Group Limited Sponsored ADR (NYSE:BHP) has been given an average rating of “Hold” by the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, one has given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $56.00.

Several research analysts have recently weighed in on BHP shares. Argus upgraded shares of BHP Group from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Tuesday, December 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of BHP Group in a report on Wednesday, January 21st. Finally, Zacks Research upgraded BHP Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 9th.

Institutional Investors Weigh In On BHP Group

Several hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC raised its position in shares of BHP Group by 222.1% in the fourth quarter. Sound Income Strategies LLC now owns 422 shares of the mining company’s stock valued at $27,000 after purchasing an additional 291 shares during the period. Caldwell Trust Co acquired a new position in BHP Group in the 2nd quarter valued at about $31,000. Eagle Bay Advisors LLC bought a new position in BHP Group in the 4th quarter valued at about $39,000. Hilltop National Bank bought a new position in BHP Group in the 2nd quarter valued at about $32,000. Finally, Salomon & Ludwin LLC lifted its position in BHP Group by 3,040.9% during the third quarter. Salomon & Ludwin LLC now owns 691 shares of the mining company’s stock worth $38,000 after acquiring an additional 669 shares during the last quarter. Institutional investors and hedge funds own 3.79% of the company’s stock.

BHP Group Price Performance

Shares of BHP opened at $71.64 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.11 and a current ratio of 1.46. The company’s fifty day simple moving average is $63.54 and its 200 day simple moving average is $57.75. BHP Group has a 1-year low of $39.73 and a 1-year high of $74.98.

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.