BHP Group (NYSE:BHP) Hits New 1-Year High – Here’s Why

BHP Group Limited Sponsored ADR (NYSE:BHP) hit a new 52-week high on Monday . The stock traded as high as $82.65 and last traded at $82.5760, with a volume of 2373988 shares trading hands. The stock had previously closed at $81.57.

Analyst Upgrades and Downgrades

BHP has been the subject of a number of recent research reports. Zacks Research raised BHP Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Citigroup reiterated a “neutral” rating on shares of BHP Group in a report on Tuesday, February 10th. Argus raised BHP Group from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Tuesday, December 30th. Wall Street Zen raised shares of BHP Group from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of BHP Group in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $56.00.

BHP Group Price Performance

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 has a fifty day moving average price of $68.43 and a 200 day moving average price of $60.14.

BHP Group Announces Dividend

The business also recently declared a dividend, which will be paid on Thursday, March 26th. Stockholders of record on Friday, March 6th will be given a dividend of $1.46 per share. The ex-dividend date is Friday, March 6th. This represents a dividend yield of 399.0%.

Institutional Investors Weigh In On BHP Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC lifted its position in BHP Group by 1.3% during the fourth quarter. Parallel Advisors LLC now owns 12,039 shares of the mining company’s stock valued at $727,000 after purchasing an additional 150 shares during the last quarter. Bailard Inc. lifted its stake in BHP Group by 1.4% during the fourth quarter. Bailard Inc. now owns 12,395 shares of the mining company’s stock worth $748,000 after purchasing an additional 174 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of BHP Group by 31.8% in the 4th quarter. Addison Advisors LLC now owns 751 shares of the mining company’s stock worth $45,000 after purchasing an additional 181 shares in the last quarter. Financial Management Professionals Inc. increased its position in shares of BHP Group by 3.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 6,418 shares of the mining company’s stock valued at $358,000 after purchasing an additional 185 shares during the last quarter. Finally, TT Capital Management LLC raised its holdings in shares of BHP Group by 3.5% during the 2nd quarter. TT Capital Management LLC now owns 5,617 shares of the mining company’s stock valued at $270,000 after buying an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 3.79% of the company’s stock.

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.