BHP Group Limited (NYSE:BHP) Given Consensus Recommendation of “Moderate Buy” by Analysts

Posted by on Jun 8th, 2023

BHP Group Limited (NYSE:BHP – Get Rating) has been given an average rating of “Moderate Buy” by the twelve analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $2,107.00.

BHP has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of BHP Group from GBX 2,500 ($31.08) to GBX 2,510 ($31.20) in a report on Wednesday, February 22nd. StockNews.com downgraded shares of BHP Group from a “strong-buy” rating to a “buy” rating in a report on Friday, May 19th. Berenberg Bank cut their price target on shares of BHP Group from GBX 3,000 ($37.29) to GBX 2,900 ($36.05) in a report on Thursday, February 23rd. The Goldman Sachs Group raised shares of BHP Group from a “neutral” rating to a “buy” rating in a report on Wednesday, May 3rd. Finally, Citigroup started coverage on shares of BHP Group in a report on Monday, April 24th. They issued a “neutral” rating for the company.

Insider Transactions at BHP Group

In other BHP Group news, insider Gary Goldberg purchased 1,000 shares of the stock in a transaction on Wednesday, March 29th. The stock was acquired at an average cost of $58.37 per share, with a total value of $58,371.00. 0.02% of the stock is currently owned by insiders.

Institutional Trading of BHP Group

Several hedge funds have recently added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its stake in BHP Group by 1.6% in the first quarter. Fisher Asset Management LLC now owns 18,125,252 shares of the mining company’s stock worth $1,149,322,000 after purchasing an additional 288,852 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in BHP Group by 119.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,338,797 shares of the mining company’s stock worth $798,672,000 after purchasing an additional 5,632,545 shares during the last quarter. Morgan Stanley increased its position in shares of BHP Group by 1.3% in the fourth quarter. Morgan Stanley now owns 4,705,642 shares of the mining company’s stock valued at $291,985,000 after acquiring an additional 61,012 shares during the period. Dimensional Fund Advisors LP increased its position in shares of BHP Group by 5.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,922,297 shares of the mining company’s stock valued at $248,705,000 after acquiring an additional 185,030 shares during the period. Finally, Bank of America Corp DE increased its position in shares of BHP Group by 33.2% in the first quarter. Bank of America Corp DE now owns 3,768,982 shares of the mining company’s stock valued at $238,991,000 after acquiring an additional 938,755 shares during the period. 5.90% of the stock is owned by institutional investors.

BHP Group Price Performance

Shares of NYSE:BHP opened at $58.73 on Thursday. The firm has a fifty day moving average price of $59.32 and a two-hundred day moving average price of $62.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.28. BHP Group has a one year low of $46.92 and a one year high of $71.52.

BHP Group Company Profile

(Get Rating)

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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Analyst Recommendations for BHP Group (NYSE:BHP)

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