BHP Group (NYSE:BHP) Reaches New 12-Month High – What’s Next?

BHP Group Limited Sponsored ADR (NYSE:BHP)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $87.93 and last traded at $87.7450, with a volume of 2989192 shares. The stock had previously closed at $84.72.

Analyst Ratings Changes

Several equities analysts have weighed in on BHP shares. Citigroup reissued a “neutral” rating on shares of BHP Group in a research report on Monday, April 13th. Wall Street Zen upgraded shares of BHP Group from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Berenberg Bank upgraded shares of BHP Group from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Weiss Ratings restated a “hold (c)” rating on shares of BHP Group in a report on Monday, April 20th. Finally, Sanford C. Bernstein reduced their target price on shares of BHP Group from $49.50 to $48.00 and set a “market perform” rating on the stock in a report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.33.

BHP Group Price Performance

The company’s 50 day simple moving average is $75.90 and its 200 day simple moving average is $67.72. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44.

BHP Group Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 26th. Investors of record on Friday, March 6th were given a dividend of $1.46 per share. The ex-dividend date was Friday, March 6th. This represents a yield of 399.0%.

Institutional Investors Weigh In On BHP Group

A number of institutional investors have recently bought and sold shares of BHP. AQR Capital Management LLC grew its holdings in BHP Group by 230.0% in the first quarter. AQR Capital Management LLC now owns 31,852 shares of the mining company’s stock valued at $1,546,000 after purchasing an additional 22,201 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in BHP Group by 20.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,594 shares of the mining company’s stock valued at $660,000 after purchasing an additional 2,331 shares during the period. Invesco Ltd. grew its holdings in BHP Group by 99.6% in the second quarter. Invesco Ltd. now owns 12,506 shares of the mining company’s stock valued at $601,000 after purchasing an additional 6,241 shares during the period. EverSource Wealth Advisors LLC grew its holdings in BHP Group by 173.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,774 shares of the mining company’s stock valued at $182,000 after purchasing an additional 2,395 shares during the period. Finally, Guggenheim Capital LLC grew its holdings in BHP Group by 13.0% in the second quarter. Guggenheim Capital LLC now owns 16,692 shares of the mining company’s stock valued at $803,000 after purchasing an additional 1,917 shares during the period. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

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.