BHP Group (NYSE:BHP) Downgraded by The Goldman Sachs Group to Neutral

The Goldman Sachs Group lowered shares of BHP Group (NYSE:BHPGet Rating) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, The Fly reports.

BHP has been the subject of several other research reports. Barclays upped their price target on shares of BHP Group from GBX 2,200 ($26.01) to GBX 2,250 ($26.61) in a research report on Friday, October 21st. Credit Suisse Group upped their price target on shares of BHP Group from GBX 2,200 ($26.01) to GBX 2,300 ($27.20) in a research report on Wednesday, August 17th. StockNews.com raised shares of BHP Group from a buy rating to a strong-buy rating in a research report on Tuesday, November 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of BHP Group from GBX 2,100 ($24.83) to GBX 2,200 ($26.01) in a research report on Wednesday. Finally, Bank of America raised shares of BHP Group from a neutral rating to a buy rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, BHP Group currently has a consensus rating of Hold and a consensus target price of $1,913.20.

BHP Group Trading Up 2.2 %

Shares of BHP opened at $60.04 on Thursday. The company has a 50 day moving average price of $51.70 and a 200-day moving average price of $55.64. BHP Group has a fifty-two week low of $46.92 and a fifty-two week high of $79.66. The company has a quick ratio of 1.40, a current ratio of 1.69 and a debt-to-equity ratio of 0.28.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BHP. Atria Investments LLC purchased a new position in shares of BHP Group in the first quarter worth $1,081,000. Envestnet Asset Management Inc. increased its stake in shares of BHP Group by 74.0% in the first quarter. Envestnet Asset Management Inc. now owns 443,905 shares of the mining company’s stock worth $34,292,000 after acquiring an additional 188,857 shares during the period. Gladstone Institutional Advisory LLC acquired a new stake in shares of BHP Group in the first quarter worth $230,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of BHP Group in the first quarter worth $180,000. Finally, Benjamin Edwards Inc. increased its stake in shares of BHP Group by 60.5% in the first quarter. Benjamin Edwards Inc. now owns 1,162 shares of the mining company’s stock worth $90,000 after acquiring an additional 438 shares during the period. Hedge funds and other institutional investors own 6.53% of the company’s stock.

About BHP Group

(Get Rating)

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.

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