Arete Wealth Advisors LLC Makes New $234.43 Billion Investment in BHP Group Limited (NYSE:BHP)

Posted by Defense World Staff on Jul 24th, 2023

Arete Wealth Advisors LLC acquired a new position in shares of BHP Group Limited (NYSE:BHP – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,697 shares of the mining company’s stock, valued at approximately $234,427,000,000.

Several other hedge funds also recently made changes to their positions in BHP. BerganKDV Wealth Management LLC purchased a new position in shares of BHP Group during the first quarter worth about $26,000. Salem Investment Counselors Inc. grew its holdings in shares of BHP Group by 110.0% during the second quarter. Salem Investment Counselors Inc. now owns 460 shares of the mining company’s stock worth $26,000 after buying an additional 241 shares during the last quarter. Covestor Ltd purchased a new position in shares of BHP Group during the first quarter worth about $26,000. CoreCap Advisors LLC purchased a new position in shares of BHP Group during the fourth quarter worth about $31,000. Finally, Lakewood Asset Management LLC purchased a new position in shares of BHP Group during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 6.14% of the company’s stock.

BHP Group Price Performance

BHP stock opened at $60.74 on Monday. The firm has a 50 day moving average of $59.50 and a 200-day moving average of $61.89. BHP Group Limited has a 12-month low of $46.92 and a 12-month high of $71.52. The company has a current ratio of 1.69, a quick ratio of 1.28 and a debt-to-equity ratio of 0.27.

Analyst Upgrades and Downgrades

BHP has been the topic of a number of research reports. Berenberg Bank lowered BHP Group from a “buy” rating to a “hold” rating in a report on Friday, July 7th. StockNews.com lowered BHP Group from a “strong-buy” rating to a “buy” rating in a report on Friday, May 19th. Citigroup assumed coverage on shares of BHP Group in a research report on Monday, April 24th. They issued a “neutral” rating for the company. Liberum Capital upgraded shares of BHP Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, CLSA upgraded shares of BHP Group from an “underperform” rating to an “outperform” rating in a research report on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, BHP Group presently has an average rating of “Hold” and an average target price of $2,512.00.

BHP Group Company Profile

(Free Report)

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, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.