Main Street Research LLC Takes Position in BHP Group Limited Sponsored ADR $BHP

Main Street Research LLC bought a new stake in BHP Group Limited Sponsored ADR (NYSE:BHP) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 519,212 shares of the mining company’s stock, valued at approximately $37,767,000. BHP Group accounts for 2.2% of Main Street Research LLC’s investment portfolio, making the stock its 23rd biggest position.

Several other large investors have also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in BHP Group by 230.0% during the 1st quarter. AQR Capital Management LLC now owns 31,852 shares of the mining company’s stock worth $1,546,000 after acquiring an additional 22,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 stake in shares of BHP Group by 99.6% during the second quarter. Invesco Ltd. now owns 12,506 shares of the mining company’s stock worth $601,000 after purchasing an additional 6,241 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of 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 acquiring an additional 2,395 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings 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 in the last quarter. 3.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upgraded shares of BHP Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Argus set a $95.00 target price on BHP Group in a research report on Monday, April 27th. Zacks Research upgraded BHP Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of BHP Group in a research report on Thursday, July 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of BHP Group in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, BHP Group currently has a consensus rating of “Moderate Buy” and an average target price of $69.50.

BHP Group Stock Performance

NYSE:BHP opened at $79.92 on Friday. BHP Group Limited Sponsored ADR has a 12-month low of $49.68 and a 12-month high of $93.83. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.65 and a quick ratio of 1.28. The stock’s 50 day simple moving average is $85.18 and its 200-day simple moving average is $76.09.

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.