Short Interest in BHP Group Limited (NYSE:BHP) Increases By 6.4%

BHP Group Limited (NYSE:BHP) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 10,450,000 shares, a growth of 6.4% from the October 15th total of 9,820,000 shares. Based on an average daily trading volume, of 2,530,000 shares, the short-interest ratio is currently 4.1 days.

BHP Group Stock Down 0.3 %

NYSE BHP traded down $0.18 during trading hours on Tuesday, hitting $52.31. 1,270,137 shares of the stock were exchanged, compared to its average volume of 2,459,441. BHP Group has a 12-month low of $50.90 and a 12-month high of $69.11. The stock has a 50-day moving average of $56.49 and a 200 day moving average of $56.50. The company has a current ratio of 1.70, a quick ratio of 1.29 and a debt-to-equity ratio of 0.38.

BHP Group Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were issued a dividend of $1.465 per share. This represents a yield of 5.2%. The ex-dividend date was Friday, September 13th. This is a positive change from BHP Group’s previous Semi-Annual dividend of $1.44.

Institutional Investors Weigh In On BHP Group

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

Wall Street Analysts Forecast Growth

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

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.