BHP Group (NYSE:BHP) Sets New 52-Week High – Here’s What Happened

BHP Group Limited Sponsored ADR (NYSE:BHP)’s stock price reached a new 52-week high on Friday . The company traded as high as $61.32 and last traded at $61.5090, with a volume of 6063 shares changing hands. The stock had previously closed at $60.87.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BHP. Weiss Ratings restated a “hold (c)” rating on shares of BHP Group in a research note on Wednesday, October 8th. Zacks Research raised BHP Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 9th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.50.

BHP Group Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.46 and a quick ratio of 1.11. The stock has a 50-day moving average of $56.80 and a 200 day moving average of $54.12.

Institutional Investors Weigh In On BHP Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caldwell Trust Co purchased a new position in BHP Group in the 2nd quarter valued at about $31,000. Hilltop National Bank acquired a new position in BHP Group in the second quarter valued at about $32,000. Salomon & Ludwin LLC lifted its holdings in shares of BHP Group by 3,040.9% in the 3rd quarter. Salomon & Ludwin LLC now owns 691 shares of the mining company’s stock worth $38,000 after acquiring an additional 669 shares during the last quarter. JFS Wealth Advisors LLC boosted its position in shares of BHP Group by 68.9% during the third quarter. JFS Wealth Advisors LLC now owns 696 shares of the mining company’s stock worth $39,000 after buying an additional 284 shares during the period. Finally, Ameriflex Group Inc. grew its position in BHP Group by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 718 shares of the mining company’s stock valued at $40,000 after acquiring an additional 359 shares in the last quarter. Institutional investors and hedge funds 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.