Ovata Capital Management Ltd Acquires 23,500 Shares of BHP Group Limited Sponsored ADR $BHP

Ovata Capital Management Ltd boosted its stake in shares of BHP Group Limited Sponsored ADR (NYSE:BHP) by 103.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 46,187 shares of the mining company’s stock after purchasing an additional 23,500 shares during the period. Ovata Capital Management Ltd’s holdings in BHP Group were worth $2,806,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of BHP Group by 136.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,974 shares of the mining company’s stock valued at $421,000 after acquiring an additional 4,024 shares in the last quarter. MidFirst Bank bought a new position in BHP Group in the fourth quarter worth approximately $1,987,000. DGS Capital Management LLC grew its stake in BHP Group by 5.8% in the fourth quarter. DGS Capital Management LLC now owns 23,361 shares of the mining company’s stock worth $1,410,000 after purchasing an additional 1,280 shares in the last quarter. Walser Wealth Management Company A Ltd Liability Co bought a new position in BHP Group in the fourth quarter worth approximately $217,000. Finally, Virtu Financial LLC purchased a new position in BHP Group during the 4th quarter worth $615,000. 3.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. 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. DZ Bank raised shares of BHP Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Citigroup restated a “neutral” rating on shares of BHP Group in a report on Monday, June 8th. Berenberg Bank upgraded shares of BHP Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of BHP Group in a report on Monday, April 20th. One 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.33.

Key Headlines Impacting BHP Group

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 Stock Up 0.2%

Shares of BHP stock opened at $88.08 on Friday. The stock has a 50 day moving average of $84.36 and a 200 day 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. BHP Group Limited Sponsored ADR has a twelve month low of $45.74 and a twelve month high of $93.83.

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.