BHP Group (NYSE:BHP) Stock Rating Upgraded by Wall Street Zen

BHP Group (NYSE:BHP) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

Several other analysts have also weighed in on BHP. Bank of America cut their price objective on BHP Group from $93.00 to $91.00 and set a “neutral” rating for the company in a report on Monday, June 22nd. Weiss Ratings restated a “hold (c)” rating on shares of BHP Group in a research report on Friday, July 17th. The Goldman Sachs Group raised shares of BHP Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Argus set a $95.00 target price on BHP Group in a report on Monday, April 27th. Finally, DZ Bank upgraded BHP Group from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $78.00.

BHP Group Stock Up 0.2%

Shares of BHP opened at $90.59 on Friday. BHP Group has a one year low of $51.83 and a one year high of $93.83. The stock’s fifty day moving average is $84.92 and its 200-day moving average is $79.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.65 and a quick ratio of 1.28.

Hedge Funds Weigh In On BHP Group

A number of hedge funds have recently added to or reduced their stakes in the company. Main Street Research LLC bought a new position in shares of BHP Group during the 1st quarter worth approximately $37,767,000. Abbington Investment Group boosted its stake in BHP Group by 45.6% in the 4th quarter. Abbington Investment Group now owns 69,288 shares of the mining company’s stock valued at $4,183,000 after buying an additional 21,700 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new stake in BHP Group in the first quarter valued at $18,591,000. Icon Advisers Inc. Co. grew its position in BHP Group by 47.5% in the first quarter. Icon Advisers Inc. Co. now owns 59,000 shares of the mining company’s stock valued at $4,292,000 after acquiring an additional 19,000 shares during the period. Finally, Oxbow Advisors LLC acquired a new position in BHP Group during the fourth quarter worth $7,243,000. Institutional investors and hedge funds own 3.79% of the company’s stock.

BHP Group Company Profile

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.