Brokerages Set BHP Group Limited (NYSE:BHP) Price Target at $53.00

BHP Group Limited (NYSE:BHP) has received an average rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $53.00.

A number of analysts recently weighed in on BHP shares. StockNews.com cut shares of BHP Group from a “strong-buy” rating to a “buy” rating in a research report on Friday. Jefferies Financial Group decreased their target price on BHP Group from $57.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, January 6th.

BHP Group Stock Down 1.3 %

Shares of BHP stock opened at $49.12 on Tuesday. BHP Group has a fifty-two week low of $48.06 and a fifty-two week high of $63.21. The firm’s 50 day moving average price is $50.28 and its two-hundred day moving average price is $53.59. The company has a quick ratio of 1.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.38.

Hedge Funds Weigh In On BHP Group

A number of institutional investors have recently added to or reduced their stakes in BHP. Hsbc Holdings PLC lifted its stake in shares of BHP Group by 49.5% in the second quarter. Hsbc Holdings PLC now owns 12,762 shares of the mining company’s stock worth $729,000 after acquiring an additional 4,228 shares in the last quarter. Sei Investments Co. raised its position in shares of BHP Group by 3.4% in the 2nd quarter. Sei Investments Co. now owns 94,442 shares of the mining company’s stock valued at $5,392,000 after purchasing an additional 3,129 shares in the last quarter. AQR Capital Management LLC raised its position in shares of BHP Group by 269.6% in the 2nd quarter. AQR Capital Management LLC now owns 28,358 shares of the mining company’s stock valued at $1,619,000 after purchasing an additional 20,685 shares in the last quarter. Creative Planning grew its position in shares of BHP Group by 18.6% during the second quarter. Creative Planning now owns 152,943 shares of the mining company’s stock worth $8,732,000 after buying an additional 23,965 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of BHP Group by 70.3% during the second quarter. NewEdge Advisors LLC now owns 74,424 shares of the mining company’s stock worth $4,249,000 after buying an additional 30,714 shares in the last quarter. Institutional investors and hedge funds own 3.79% of the company’s stock.

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.