BHP Group Limited (NYSE:BHP) Receives $53.00 Average Price Target from Brokerages

BHP Group Limited (NYSE:BHP) has earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $53.00.

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of BHP Group from $57.00 to $53.00 and set a “hold” rating for the company in a research note on Monday, January 6th. StockNews.com cut shares of BHP Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 19th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. purchased a new position in BHP Group during the fourth quarter worth about $74,000. Strategic Global Advisors LLC boosted its holdings in BHP Group by 55.5% during the fourth quarter. Strategic Global Advisors LLC now owns 27,497 shares of the mining company’s stock worth $1,343,000 after purchasing an additional 9,812 shares during the last quarter. Riverview Capital Advisers LLC purchased a new position in BHP Group during the fourth quarter worth about $1,110,000. Point72 Hong Kong Ltd purchased a new position in BHP Group during the fourth quarter worth about $801,000. Finally, Malaga Cove Capital LLC boosted its holdings in BHP Group by 54.1% during the fourth quarter. Malaga Cove Capital LLC now owns 14,790 shares of the mining company’s stock worth $722,000 after purchasing an additional 5,193 shares during the last quarter. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

BHP Group Trading Down 1.9 %

Shares of NYSE BHP opened at $48.43 on Friday. BHP Group has a twelve month low of $48.06 and a twelve month high of $63.21. The firm has a fifty day simple moving average of $49.80 and a 200 day simple moving average of $53.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.70 and a quick ratio of 1.25.

BHP Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 7th will be issued a dividend of $1.00 per share. This represents a yield of 4.8%. The ex-dividend date of this dividend is Friday, March 7th.

BHP Group Company Profile

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.