BHP Group (NYSE:BHP) Stock Breaks Above 200-Day Moving Average – Time to Sell?
by Danessa Lincoln · The Markets DailyBHP Group Limited Sponsored ADR (NYSE:BHP – Get Free Report)’s share price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $81.78 and traded as high as $83.38. BHP Group shares last traded at $82.8520, with a volume of 2,867,663 shares changing hands.
Analyst Upgrades and Downgrades
BHP has been the subject of a number of research analyst reports. Citigroup reissued a “neutral” rating on shares of BHP Group in a research report on Tuesday, October 13th. Zacks Research lowered BHP Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded BHP Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Wall Street Zen cut BHP Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, BHP Group has an average rating of “Moderate Buy” and an average target price of $78.00.
Read Our Latest Analysis on BHP Group
BHP Group Stock Up 1.0%
The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.88. The stock’s 50 day moving average is $84.33 and its two-hundred day moving average is $81.94.
BHP Group Announces Dividend
The firm also recently announced a dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Friday, September 4th were issued a $1.98 dividend. This represents a dividend yield of 438.0%. The ex-dividend date of this dividend was Friday, September 4th.
Institutional Investors Weigh In On BHP Group
Hedge funds have recently made changes to their positions in the business. Fisher Asset Management LLC increased its position in BHP Group by 0.7% in the 3rd quarter. Fisher Asset Management LLC now owns 24,510,291 shares of the mining company’s stock valued at $2,079,453,000 after acquiring an additional 169,171 shares during the period. Royal Bank of Canada lifted its position in BHP Group by 17.9% during the 1st quarter. Royal Bank of Canada now owns 1,239,402 shares of the mining company’s stock worth $90,153,000 after acquiring an additional 188,446 shares during the period. Quantinno Capital Management LP lifted its position in BHP Group by 21.5% during the 1st quarter. Quantinno Capital Management LP now owns 493,604 shares of the mining company’s stock worth $35,905,000 after acquiring an additional 87,378 shares during the period. Ferguson Wellman Capital Management Inc. lifted its position in BHP Group by 1.1% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 261,230 shares of the mining company’s stock worth $22,163,000 after acquiring an additional 2,811 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of BHP Group by 2.6% in the 1st quarter. Cetera Investment Advisers now owns 213,351 shares of the mining company’s stock valued at $15,519,000 after purchasing an additional 5,434 shares during the last quarter. Institutional investors and hedge funds own 3.79% of the company’s stock.
About BHP Group
BHP Group is a global resources company with roots in the Broken Hill Proprietary Company, founded in Australia in 1885. The company is headquartered in Melbourne and operates mines and related businesses across several regions. BHP’s main products include iron ore, copper and metallurgical coal, which are used in steelmaking, construction, manufacturing and other industries. It also has a potash project under development in Canada. The company’s operations and projects span Australia and the Americas, including activities in Chile, Peru and Brazil.