Brokerages Set BHP Group Limited (NYSE:BHP) PT at $53.00

Shares of BHP Group Limited (NYSE:BHP) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $53.00.

A number of research firms have recently issued reports on BHP. StockNews.com downgraded shares of BHP Group from a “strong-buy” rating to a “buy” rating in a report on Friday. Jefferies Financial Group dropped their price objective on shares of BHP Group from $57.00 to $53.00 and set a “hold” rating for the company in a report on Monday, January 6th.

BHP Group Price Performance

Shares of NYSE:BHP opened at $48.82 on Tuesday. The firm has a fifty day moving average price of $50.28 and a two-hundred day moving average price of $53.54. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.70 and a quick ratio of 1.29. BHP Group has a one year low of $48.06 and a one year high of $63.21.

Hedge Funds Weigh In On BHP Group

Large investors have recently added to or reduced their stakes in the business. Eastern Bank purchased a new position in BHP Group in the 3rd quarter worth $26,000. Sound Income Strategies LLC raised its position in BHP Group by 124.6% in the 3rd quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock worth $33,000 after purchasing an additional 294 shares during the period. Sierra Ocean LLC purchased a new position in BHP Group in the 4th quarter worth $29,000. Farmers & Merchants Investments Inc. purchased a new position in BHP Group in the 3rd quarter worth $50,000. Finally, Versant Capital Management Inc purchased a new position in BHP Group in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 3.79% of the company’s stock.

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.