BHP Group (NYSE:BHP) Downgraded to Buy Rating by StockNews.com

BHP Group (NYSE:BHP) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Monday.

BHP has been the subject of several other research reports. Sanford C. Bernstein raised BHP Group from a “market perform” rating to an “outperform” rating in a research report on Monday, September 16th. Jefferies Financial Group downgraded shares of BHP Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $72.00 to $68.00 in a research report on Friday, October 4th. Finally, Argus raised BHP Group to a “strong-buy” rating in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

BHP Group Stock Performance

NYSE BHP traded up $0.62 on Monday, reaching $52.47. 2,486,896 shares of the company’s stock traded hands, compared to its average volume of 2,464,979. The company has a quick ratio of 1.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.38. BHP Group has a 12 month low of $50.90 and a 12 month high of $69.11. The stock has a 50-day simple moving average of $56.49 and a 200 day simple moving average of $56.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Eastern Bank acquired a new stake in shares of BHP Group during the third quarter valued at approximately $26,000. Asset Dedication LLC increased its position in BHP Group by 7,516.7% in the 2nd quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock valued at $26,000 after acquiring an additional 451 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in BHP Group in the 2nd quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of BHP Group during the 2nd quarter worth approximately $27,000. Finally, Sound Income Strategies LLC grew its position in shares of BHP Group by 124.6% during the 3rd quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock worth $33,000 after buying an additional 294 shares during the period. 3.79% of the stock is owned by institutional investors and hedge funds.

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.