True Vision MN LLC Buys New Position in BHP Group Limited Sponsored ADR $BHP

True Vision MN LLC acquired a new stake in BHP Group Limited Sponsored ADR (NYSE:BHP) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,811 shares of the mining company’s stock, valued at approximately $714,000.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in shares of BHP Group by 230.0% during the 1st quarter. AQR Capital Management LLC now owns 31,852 shares of the mining company’s stock valued at $1,546,000 after acquiring an additional 22,201 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of BHP Group by 20.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,594 shares of the mining company’s stock worth $660,000 after acquiring an additional 2,331 shares during the last quarter. Invesco Ltd. grew its holdings in BHP Group by 99.6% in the second quarter. Invesco Ltd. now owns 12,506 shares of the mining company’s stock valued at $601,000 after purchasing an additional 6,241 shares during the period. EverSource Wealth Advisors LLC grew its holdings in BHP Group by 173.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,774 shares of the mining company’s stock valued at $182,000 after purchasing an additional 2,395 shares during the period. Finally, Guggenheim Capital LLC increased its position in BHP Group by 13.0% during the second quarter. Guggenheim Capital LLC now owns 16,692 shares of the mining company’s stock worth $803,000 after purchasing an additional 1,917 shares during the last quarter. 3.79% of the stock is currently owned by institutional investors and hedge funds.

BHP Group News Roundup

Here are the key news stories impacting BHP Group this week:

• Negative Sentiment: BHP will take a $2.3 billion charge on its Jansen potash mine after costs jumped again and the project was delayed, signaling weaker near-term earnings and a larger-than-expected budget overrun. Reuters: BHP flags cost overrun at Jansen potash project, to book $2.3 billion charge
• Negative Sentiment: Market reaction has been negative, with BHP shares falling sharply in Australia after the announcement, reflecting investor concern that the mining giant is facing repeated cost inflation and execution risk on a major growth project. Proactive Investors: BHP shares drop on $2.3B write-down at Canadian potash project
• Neutral Sentiment: Other coverage also highlighted that the Jansen expansion is now expected to cost about $2 billion more than previously planned, reinforcing uncertainty around project economics and the timing of future potash production. Wall Street Journal: BHP Raises Potash Project Costs, Flags $2.3 Billion Write-Down

BHP Group Trading Up 0.2%

BHP opened at $88.08 on Monday. BHP Group Limited Sponsored ADR has a 1 year low of $45.74 and a 1 year high of $93.83. The firm has a 50 day moving average price of $84.36 and a 200 day moving average price of $73.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.65 and a quick ratio of 1.28.

Wall Street Analyst Weigh In

BHP has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of BHP Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of BHP Group in a research note on Friday, May 15th. Sanford C. Bernstein dropped their price objective on BHP Group from $49.50 to $48.00 and set a “market perform” rating for the company in a report on Monday, March 9th. Bank of America lowered BHP Group from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. Finally, Argus set a $95.00 target price on BHP Group in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.33.

BHP Group Profile

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.