20,000 Shares in BHP Group Limited Sponsored ADR $BHP Purchased by Connective Portfolio Management LLC

Connective Portfolio Management LLC acquired a new position in shares of BHP Group Limited Sponsored ADR (NYSE:BHP) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 20,000 shares of the mining company’s stock, valued at approximately $1,455,000. BHP Group makes up 3.9% of Connective Portfolio Management LLC’s holdings, making the stock its 10th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Paradigm Asset Management Co. LLC purchased a new position in BHP Group in the 3rd quarter worth approximately $1,345,000. Abbington Investment Group lifted its position in BHP Group by 45.6% during the fourth quarter. Abbington Investment Group now owns 69,288 shares of the mining company’s stock worth $4,183,000 after buying an additional 21,700 shares in the last quarter. Fisher Asset Management LLC boosted 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 worth $1,290,593,000 after buying an additional 307,397 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in BHP Group by 1,769.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 464,133 shares of the mining company’s stock worth $25,875,000 after buying an additional 439,304 shares during the last quarter. Finally, AlphaCore Capital LLC grew its holdings in BHP Group by 1,782.2% in the 3rd quarter. AlphaCore Capital LLC now owns 17,335 shares of the mining company’s stock valued at $966,000 after buying an additional 16,414 shares in the last quarter. Hedge funds and other institutional investors own 3.79% of the company’s stock.

BHP Group Price Performance

Shares of BHP opened at $88.08 on Friday. 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 simple moving average of $84.36 and a two-hundred day simple moving average of $73.69. The company has a current ratio of 1.65, a quick ratio of 1.28 and a debt-to-equity ratio of 0.44.

More BHP Group News

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BHP. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of BHP Group in a research note on Friday, May 15th. Citigroup reissued a “neutral” rating on shares of BHP Group in a research report on Monday, June 8th. Weiss Ratings reissued a “hold (c)” rating on shares of BHP Group in a report on Monday, April 20th. Berenberg Bank upgraded shares of BHP Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, The Goldman Sachs Group raised shares of BHP Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $62.33.

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.