BHP Group (NYSE:BHP) Hits New 12-Month High – Should You Buy?

Shares of BHP Group Limited Sponsored ADR (NYSE:BHP) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $66.75 and last traded at $65.7930, with a volume of 1410349 shares trading hands. The stock had previously closed at $64.39.

Analyst Ratings Changes

Several analysts have issued reports on BHP shares. Argus raised shares of BHP Group from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, December 30th. Zacks Research raised BHP Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of BHP Group in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, BHP Group presently has an average rating of “Hold” and an average price target of $56.00.

BHP Group Trading Down 1.0%

The stock has a 50 day moving average of $59.67 and a two-hundred day moving average of $56.15. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.43.

Institutional Trading of BHP Group

Institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC raised its position in BHP Group by 222.1% in the 4th quarter. Sound Income Strategies LLC now owns 422 shares of the mining company’s stock valued at $27,000 after purchasing an additional 291 shares during the last quarter. Caldwell Trust Co acquired a new position in BHP Group in the second quarter valued at about $31,000. Hilltop National Bank acquired a new position in BHP Group during the second quarter valued at approximately $32,000. Salomon & Ludwin LLC raised its stake in BHP Group by 3,040.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 691 shares of the mining company’s stock worth $38,000 after buying an additional 669 shares during the period. Finally, JFS Wealth Advisors LLC increased its holdings in shares of BHP Group by 68.9% in the third quarter. JFS Wealth Advisors LLC now owns 696 shares of the mining company’s stock worth $39,000 after acquiring an additional 284 shares in the last quarter. 3.79% of the stock is currently owned by institutional investors and hedge funds.

BHP Group Company Profile

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.