BHP Group (NYSE:BHP) Reaches New 52-Week High – What’s Next?

BHP Group Limited Sponsored ADR (NYSE:BHP)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $69.10 and last traded at $67.83, with a volume of 5826500 shares changing hands. The stock had previously closed at $67.52.

Wall Street Analyst Weigh In

BHP has been the subject of several research analyst reports. Zacks Research upgraded BHP Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 9th. Weiss Ratings restated a “hold (c)” rating on shares of BHP Group in a research note on Wednesday, January 21st. Finally, Argus raised shares of BHP Group from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Tuesday, December 30th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.00.

BHP Group Trading Up 0.5%

The business has a 50-day moving average of $60.18 and a 200 day moving average of $56.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.46 and a quick ratio of 1.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC raised its stake in BHP Group by 1.3% during the third quarter. Fisher Asset Management LLC now owns 23,149,649 shares of the mining company’s stock valued at $1,290,593,000 after purchasing an additional 307,397 shares in the last quarter. Bank of America Corp DE raised its position in shares of BHP Group by 25.2% during the 3rd quarter. Bank of America Corp DE now owns 3,465,421 shares of the mining company’s stock valued at $193,197,000 after buying an additional 697,316 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of BHP Group by 5.3% in the 3rd quarter. Northern Trust Corp now owns 2,443,560 shares of the mining company’s stock valued at $136,228,000 after acquiring an additional 123,382 shares during the last quarter. SIH Partners LLLP grew its position in BHP Group by 937.5% in the third quarter. SIH Partners LLLP now owns 1,856,704 shares of the mining company’s stock worth $103,511,000 after acquiring an additional 1,677,739 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in BHP Group by 18.3% during the third quarter. American Century Companies Inc. now owns 920,304 shares of the mining company’s stock worth $51,307,000 after acquiring an additional 142,060 shares during the last quarter. 3.79% of the stock is owned by hedge funds and other institutional investors.

About BHP Group

BHP Group is an Anglo-Australian natural resources company engaged principally in the exploration, development, production and marketing of commodities. Its core businesses include the extraction and processing of iron ore, copper, metallurgical and thermal coal, nickel and other minerals. BHP operates large-scale mining and processing assets and supplies raw materials used across steelmaking, energy and industrial supply chains.

The company has a global operating footprint with significant assets and projects in Australia and the Americas, and commercial activities that serve customers worldwide.