BHP Group (NYSE:BHP) Price Target Cut to $91.00 by Analysts at Bank of America

BHP Group (NYSE:BHP) had its price objective reduced by stock analysts at Bank of America from $93.00 to $91.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the mining company’s stock. Bank of America‘s price target would suggest a potential upside of 5.61% from the stock’s previous close.

A number of other brokerages have also issued reports on BHP. Argus set a $95.00 target price on shares of BHP Group in a research report on Monday, April 27th. Citigroup reiterated a “neutral” rating on shares of BHP Group in a research report on Monday, June 8th. Zacks Research lowered BHP Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. The Goldman Sachs Group upgraded BHP Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Finally, DZ Bank raised BHP Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $69.50.

BHP Group Stock Down 1.9%

NYSE:BHP opened at $86.17 on Monday. The stock has a 50 day moving average of $84.36 and a 200-day moving average of $73.82. BHP Group has a 52 week low of $45.74 and a 52 week high of $93.83. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44.

Institutional Investors Weigh In On BHP Group

Several institutional investors and hedge funds have recently bought and sold shares of BHP. AQR Capital Management LLC increased its holdings in shares of BHP Group by 230.0% during the first quarter. AQR Capital Management LLC now owns 31,852 shares of the mining company’s stock worth $1,546,000 after buying an additional 22,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in BHP Group by 20.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,594 shares of the mining company’s stock worth $660,000 after buying an additional 2,331 shares in the last quarter. Invesco Ltd. increased its holdings in shares of 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 in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in BHP Group by 173.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,774 shares of the mining company’s stock worth $182,000 after buying an additional 2,395 shares in the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of BHP Group by 13.0% in the 2nd quarter. Guggenheim Capital LLC now owns 16,692 shares of the mining company’s stock valued at $803,000 after buying an additional 1,917 shares during the period. Institutional investors own 3.79% of the company’s stock.

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.