Sanford C. Bernstein Upgrades BHP Group (NYSE:BHP) to “Outperform”

BHP Group (NYSE:BHP) was upgraded by Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research note issued on Monday, Briefing.com reports.

Other research analysts have also issued research reports about the stock. Citigroup began coverage on BHP Group in a report on Friday, May 31st. They issued a “buy” rating on the stock. StockNews.com raised shares of BHP Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Barclays reissued an “equal weight” rating on shares of BHP Group in a research report on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, BHP Group currently has a consensus rating of “Moderate Buy”.

BHP Group Stock Performance

BHP opened at $52.89 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.70 and a quick ratio of 1.29. The stock’s fifty day moving average is $54.63 and its 200-day moving average is $56.76. BHP Group has a one year low of $50.90 and a one year high of $69.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Asset Dedication LLC boosted its holdings in BHP Group by 7,516.7% in the 2nd quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock valued at $26,000 after purchasing an additional 451 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in BHP Group during the second quarter worth $27,000. Ashton Thomas Private Wealth LLC bought a new position in BHP Group during the 2nd quarter valued at about $27,000. Rise Advisors LLC bought a new position in shares of BHP Group in the first quarter valued at approximately $29,000. Finally, WFA Asset Management Corp acquired a new position in BHP Group in the first quarter worth $31,000. 3.79% of the stock is currently owned by institutional investors and hedge funds.

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