Pinnacle West Asset Management Inc. Purchases New Holdings in BHP Group Limited Sponsored ADR $BHP

Pinnacle West Asset Management Inc. acquired a new position in BHP Group Limited Sponsored ADR (NYSE:BHP) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 9,100 shares of the mining company’s stock, valued at approximately $758,000.

Several other institutional investors also recently modified their holdings of BHP. Main Street Research LLC bought a new position in BHP Group during the first quarter worth about $37,767,000. Ferguson Wellman Capital Management Inc. bought a new stake in shares of BHP Group in the 1st quarter valued at approximately $18,591,000. Icon Advisers Inc. Co. raised its holdings in shares of BHP Group by 47.5% in the 1st quarter. Icon Advisers Inc. Co. now owns 59,000 shares of the mining company’s stock worth $4,292,000 after buying an additional 19,000 shares in the last quarter. Primoris Wealth Advisors LLC acquired a new position in shares of BHP Group in the 4th quarter worth approximately $1,389,000. Finally, Himension Capital Singapore PTE. LTD. acquired a new position in shares of BHP Group in the 1st quarter worth approximately $1,705,000. Institutional investors and hedge funds own 3.79% of the company’s stock.

BHP Group Price Performance

Shares of BHP opened at $97.13 on Friday. BHP Group Limited Sponsored ADR has a one year low of $51.83 and a one year high of $97.27. The business’s 50 day simple moving average is $85.48 and its 200-day simple moving average is $80.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.88 and a quick ratio of 1.28.

Analyst Upgrades and Downgrades

BHP has been the topic of several recent analyst reports. Weiss Ratings raised BHP Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Zacks Research cut BHP Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of BHP Group in a research note on Thursday, July 2nd. Citigroup reaffirmed a “neutral” rating on shares of BHP Group in a report on Monday, June 8th. Finally, Wall Street Zen cut shares of BHP Group from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $78.00.

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.