BHP Group (NYSE:BHP) Sets New 12-Month High – What’s Next?

BHP Group Limited Sponsored ADR (NYSE:BHP) shares reached a new 52-week high on Thursday . The company traded as high as $58.97 and last traded at $58.9360, with a volume of 3521213 shares traded. The stock had previously closed at $57.92.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BHP Group in a report on Wednesday, October 8th. Citigroup reiterated a “neutral” rating on shares of BHP Group in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.50.

BHP Group Stock Performance

The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $55.65 and its two-hundred day simple moving average is $53.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP raised its holdings in BHP Group by 11.3% during the 3rd quarter. Allworth Financial LP now owns 4,638 shares of the mining company’s stock worth $259,000 after purchasing an additional 472 shares during the last quarter. Investment Research Partners LLC acquired a new stake in shares of BHP Group during the third quarter worth $375,000. BlueCrest Capital Management Ltd acquired a new stake in shares of BHP Group during the third quarter worth $699,000. CIBC Private Wealth Group LLC raised its stake in BHP Group by 4.6% during the third quarter. CIBC Private Wealth Group LLC now owns 757,688 shares of the mining company’s stock worth $42,241,000 after buying an additional 33,337 shares during the last quarter. Finally, Ovata Capital Management Ltd lifted its holdings in BHP Group by 21.3% in the third quarter. Ovata Capital Management Ltd now owns 22,687 shares of the mining company’s stock valued at $1,275,000 after buying an additional 3,986 shares during the period. 3.79% of the stock is owned by institutional investors and hedge funds.

About BHP Group

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.