BHP Group (NYSE:BHP) Downgraded by Sanford C. Bernstein to “Market Perform”

BHP Group (NYSE:BHP) was downgraded by equities researchers at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, Marketbeat Ratings reports.

Several other brokerages have also recently issued reports on BHP. StockNews.com cut shares of BHP Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 19th. Clarkson Capital upgraded shares of BHP Group to a “strong-buy” rating in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.00.

BHP Group Stock Down 0.6%

Shares of NYSE:BHP traded down $0.29 on Monday, hitting $50.23. 1,334,067 shares of the company traded hands, compared to its average volume of 2,546,762. The stock has a 50 day simple moving average of $47.71 and a 200-day simple moving average of $49.81. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.40. The company has a market cap of $127.36 billion, a PE ratio of 11.41 and a beta of 0.86. BHP Group has a 52 week low of $39.73 and a 52 week high of $63.21.

Hedge Funds Weigh In On BHP Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC raised its holdings in BHP Group by 93.7% in the 3rd quarter. Barclays PLC now owns 226,083 shares of the mining company’s stock worth $14,042,000 after purchasing an additional 109,337 shares during the period. Park Avenue Securities LLC increased its holdings in shares of BHP Group by 11.2% in the fourth quarter. Park Avenue Securities LLC now owns 18,080 shares of the mining company’s stock worth $883,000 after purchasing an additional 1,824 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of BHP Group by 743.8% in the fourth quarter. Brooklyn Investment Group now owns 1,966 shares of the mining company’s stock worth $96,000 after purchasing an additional 1,733 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of BHP Group by 20.1% in the fourth quarter. Aaron Wealth Advisors LLC now owns 13,246 shares of the mining company’s stock worth $647,000 after purchasing an additional 2,217 shares during the last quarter. Finally, Strong Tower Advisory Services increased its holdings in shares of BHP Group by 8.5% in the fourth quarter. Strong Tower Advisory Services now owns 33,321 shares of the mining company’s stock worth $1,627,000 after purchasing an additional 2,601 shares during the last quarter. 3.79% of the stock is owned by institutional investors.

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, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.