BHP Group (NYSE:BHP) Shares Gap Down to $59.06

BHP Group Limited (NYSE:BHP)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $59.06, but opened at $57.15. BHP Group shares last traded at $56.77, with a volume of 634,296 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BHP shares. StockNews.com lowered shares of BHP Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Liberum Capital reiterated a “hold” rating on shares of BHP Group in a report on Tuesday, March 5th. Finally, Citigroup upgraded BHP Group from a “neutral” rating to a “buy” rating in a research note on Thursday, March 14th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.00.

BHP Group Stock Performance

The stock’s 50 day simple moving average is $58.11 and its two-hundred day simple moving average is $60.12. The company has a quick ratio of 1.22, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

BHP Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a $1.44 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 5.2%.

Institutional Investors Weigh In On BHP Group

A number of hedge funds have recently modified their holdings of BHP. Salem Investment Counselors Inc. increased its stake in BHP Group by 110.0% during the second quarter. Salem Investment Counselors Inc. now owns 460 shares of the mining company’s stock worth $26,000 after acquiring an additional 241 shares during the last quarter. Covestor Ltd acquired a new position in BHP Group in the first quarter valued at about $26,000. Russell Investments Group Ltd. purchased a new position in BHP Group during the first quarter worth about $27,000. Eagle Bay Advisors LLC acquired a new stake in shares of BHP Group during the fourth quarter valued at about $28,000. Finally, Rise Advisors LLC purchased a new stake in shares of BHP Group in the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors own 3.79% of the company’s stock.

About BHP Group

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.