Main Street Research LLC Invests $37.77 Million in BHP Group Limited Sponsored ADR $BHP

Main Street Research LLC purchased a new position in shares of BHP Group Limited Sponsored ADR (NYSE:BHP) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 519,212 shares of the mining company’s stock, valued at approximately $37,767,000. BHP Group accounts for approximately 2.2% of Main Street Research LLC’s investment portfolio, making the stock its 23rd largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bayban acquired a new position in BHP Group during the 4th quarter worth approximately $25,000. Hilton Head Capital Partners LLC acquired a new stake in shares of BHP Group in the 4th quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of BHP Group in the 4th quarter valued at approximately $26,000. Sound Income Strategies LLC boosted its stake 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 buying an additional 291 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of BHP Group in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 3.79% of the company’s stock.

BHP Group Trading Up 2.1%

Shares of BHP opened at $79.92 on Friday. BHP Group Limited Sponsored ADR has a 12-month low of $49.68 and a 12-month high of $93.83. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.28 and a current ratio of 1.65. The company has a 50-day moving average of $85.18 and a two-hundred day moving average of $76.09.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BHP. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of BHP Group in a report on Thursday, July 2nd. Argus set a $95.00 target price on shares of BHP Group in a research report on Monday, April 27th. Wall Street Zen raised shares of BHP Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of BHP Group in a report on Monday, April 20th. Finally, Berenberg Bank upgraded shares of BHP Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.50.

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.