Short Interest in BHP Group Limited (NYSE:BHP) Rises By 6.4%

BHP Group Limited (NYSE:BHP) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 10,450,000 shares, a growth of 6.4% from the October 15th total of 9,820,000 shares. Based on an average daily volume of 2,530,000 shares, the days-to-cover ratio is currently 4.1 days.

BHP Group Price Performance

Shares of BHP traded down $0.18 during mid-day trading on Tuesday, reaching $52.31. The stock had a trading volume of 1,270,137 shares, compared to its average volume of 2,459,441. The company has a current ratio of 1.70, a quick ratio of 1.29 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average is $56.49 and its 200 day moving average is $56.50. BHP Group has a 52-week low of $50.90 and a 52-week high of $69.11.

BHP Group Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were given a dividend of $1.465 per share. This represents a dividend yield of 5.2%. The ex-dividend date was Friday, September 13th. This is a positive change from BHP Group’s previous Semi-Annual dividend of $1.44.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BHP. StockNews.com downgraded shares of BHP Group from a “strong-buy” rating to a “buy” rating in a research report on Monday. Sanford C. Bernstein upgraded BHP Group from a “market perform” rating to an “outperform” rating in a research report on Monday, September 16th. Jefferies Financial Group cut shares of BHP Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $72.00 to $68.00 in a research note on Friday, October 4th. Finally, Argus upgraded BHP Group to a “strong-buy” rating in a research report on Thursday, September 19th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, BHP Group presently has an average rating of “Moderate Buy” and an average target price of $68.00.

Institutional Investors Weigh In On BHP Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pinnacle West Asset Management Inc. grew its position in BHP Group by 2.6% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 7,925 shares of the mining company’s stock valued at $452,000 after acquiring an additional 200 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in BHP Group by 0.7% in the second quarter. Sequoia Financial Advisors LLC now owns 27,500 shares of the mining company’s stock valued at $1,570,000 after buying an additional 202 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in BHP Group by 4.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 5,101 shares of the mining company’s stock worth $317,000 after buying an additional 203 shares during the last quarter. Huntington National Bank boosted its position in shares of BHP Group by 17.5% during the 3rd quarter. Huntington National Bank now owns 1,365 shares of the mining company’s stock worth $85,000 after acquiring an additional 203 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC increased its holdings in shares of BHP Group by 1.1% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 19,208 shares of the mining company’s stock valued at $1,097,000 after acquiring an additional 208 shares during the last quarter. Institutional investors and hedge funds own 3.79% of the company’s stock.

BHP Group Company Profile

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.