Raymond James & Associates Acquires 32,361 Shares of BHP Group Limited (NYSE:BHP)

Posted by on May 17th, 2023

Raymond James & Associates raised its position in BHP Group Limited (NYSE:BHP – Get Rating) by 17.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,306 shares of the mining company’s stock after buying an additional 32,361 shares during the quarter. Raymond James & Associates’ holdings in BHP Group were worth $13,608,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BHP. Salem Investment Counselors Inc. grew its position in shares of BHP Group by 110.0% in the second quarter. Salem Investment Counselors Inc. now owns 460 shares of the mining company’s stock valued at $26,000 after purchasing an additional 241 shares in the last quarter. Covestor Ltd purchased a new position in shares of BHP Group in the first quarter valued at $26,000. Benjamin Edwards Inc. grew its position in shares of BHP Group by 109.7% in the fourth quarter. Benjamin Edwards Inc. now owns 518 shares of the mining company’s stock valued at $32,000 after purchasing an additional 271 shares in the last quarter. Glass Jacobson Investment Advisors llc purchased a new position in shares of BHP Group in the fourth quarter valued at $35,000. Finally, Sound Income Strategies LLC purchased a new position in shares of BHP Group in the fourth quarter valued at $36,000. 5.90% of the stock is currently owned by institutional investors.

BHP Group Price Performance

BHP opened at $58.13 on Wednesday. The stock has a 50-day moving average price of $59.94 and a 200-day moving average price of $61.83. BHP Group Limited has a 12-month low of $46.92 and a 12-month high of $72.82. The company has a current ratio of 1.69, a quick ratio of 1.28 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $85.75 billion, a P/E ratio of 10.46, a PEG ratio of 3.39 and a beta of 0.89.

BHP Group Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, March 30th. Stockholders of record on Friday, March 10th were paid a $1.80 dividend. This represents a dividend yield of 8.7%. The ex-dividend date of this dividend was Thursday, March 9th. BHP Group’s dividend payout ratio (DPR) is presently 64.21%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group upgraded BHP Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 3rd. JPMorgan Chase & Co. boosted their target price on BHP Group from GBX 2,500 ($31.32) to GBX 2,510 ($31.44) in a research report on Wednesday, February 22nd. CLSA upgraded BHP Group from an “underperform” rating to an “outperform” rating in a research report on Wednesday, April 5th. StockNews.com cut BHP Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 11th. Finally, Barclays reduced their target price on BHP Group from GBX 2,700 ($33.82) to GBX 2,550 ($31.94) in a research report on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, BHP Group currently has an average rating of “Moderate Buy” and an average price target of $2,211.50.

BHP Group Company Profile

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BHP Group Ltd. engages in the exploration, development, production and processing of iron ore, metallurgical coal and copper. It operates through the following segments: Petroleum, Copper, Iron Ore, and Coal. The Petroleum segment explores, develops and produces oil and gas. The Copper segment refers to the mining of copper, silver, lead, zinc, molybdenum, uranium and gold.

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Institutional Ownership by Quarter for BHP Group (NYSE:BHP)

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