Portland Global Advisors LLC Trims Position in BHP Group Ltd (BHP)
Portland Global Advisors LLC lowered its position in shares of BHP Group Ltd (NYSE:BHP) by 6.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,930 shares of the mining company’s stock after selling 550 shares during the period. Portland Global Advisors LLC’s holdings in BHP Group were worth $434,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in shares of BHP Group by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 97,038 shares of the mining company’s stock valued at $4,851,000 after buying an additional 6,701 shares during the last quarter. SG Americas Securities LLC grew its position in shares of BHP Group by 229.8% in the 3rd quarter. SG Americas Securities LLC now owns 13,946 shares of the mining company’s stock valued at $695,000 after buying an additional 9,717 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of BHP Group in the 3rd quarter valued at about $12,445,000. Deutsche Bank AG grew its position in shares of BHP Group by 29.0% in the 3rd quarter. Deutsche Bank AG now owns 328,282 shares of the mining company’s stock valued at $16,358,000 after buying an additional 73,876 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its position in shares of BHP Group by 37.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 8,514 shares of the mining company’s stock valued at $423,000 after buying an additional 2,304 shares during the last quarter. Institutional investors and hedge funds own 3.79% of the company’s stock.
BHP stock traded down $0.75 during trading on Monday, reaching $56.08. 63,412 shares of the stock were exchanged, compared to its average volume of 2,337,938. BHP Group Ltd has a twelve month low of $43.19 and a twelve month high of $57.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.16 and a current ratio of 2.55. The company has a market cap of $91.27 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 2.84 and a beta of 0.80.
A number of equities research analysts have commented on BHP shares. Deutsche Bank lowered BHP Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Goldman Sachs Group lowered BHP Group from a “conviction-buy” rating to a “buy” rating in a research report on Monday, January 14th. Jefferies Financial Group upgraded BHP Group from a “hold” rating to a “buy” rating in a research report on Monday, January 28th. JPMorgan Chase & Co. downgraded BHP Group from a “neutral” rating to an “underweight” rating in a research note on Monday, February 4th. They noted that the move was a valuation call. Finally, CLSA downgraded BHP Group from an “outperform” rating to an “underperform” rating in a research note on Thursday, February 7th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $55.40.
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BHP Group Profile
BHP Group discovers, acquires, develops, and markets natural resources worldwide. The company engages in the exploration, development, and production of oil and gas properties; and mining of copper, silver, lead, zinc, molybdenum, uranium, gold, and iron ores, as well as metallurgical and energy coal.
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