BHP Group (NYSE:BHP) Share Price Crosses Above 200 Day Moving Average – What’s Next?
by Mitch Edgeman · The Markets DailyBHP Group Limited Sponsored ADR (NYSE:BHP – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $83.82 and traded as high as $84.73. BHP Group shares last traded at $84.6230, with a volume of 3,551,295 shares traded.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Citigroup reiterated a “neutral” rating on shares of BHP Group in a research report on Thursday, September 10th. Bank of America lowered their price objective on shares of BHP Group from $93.00 to $91.00 and set a “neutral” rating for the company in a research report on Monday, June 22nd. Wall Street Zen downgraded shares of BHP Group from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of BHP Group in a report on Thursday, July 2nd. Finally, Weiss Ratings upgraded shares of BHP Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, BHP Group has an average rating of “Hold” and a consensus target price of $78.00.
Check Out Our Latest Research Report on BHP Group
BHP Group Stock Performance
The business has a 50-day simple moving average of $88.85 and a two-hundred day simple moving average of $83.84. The company has a current ratio of 1.88, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43.
BHP Group Announces Dividend
The firm also recently announced a dividend, which was paid on Wednesday, September 23rd. Investors of record on Friday, September 4th were issued a dividend of $1.98 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a dividend yield of 438.0%.
Institutional Investors Weigh In On BHP Group
Several hedge funds have recently added to or reduced their stakes in the business. Boltwood Capital Management bought a new stake in shares of BHP Group during the 3rd quarter worth about $210,000. Parrish Capital LLC raised its holdings in BHP Group by 1.7% in the 3rd quarter. Parrish Capital LLC now owns 10,256 shares of the mining company’s stock valued at $870,000 after acquiring an additional 174 shares during the period. QRG Capital Management Inc. lifted its position in BHP Group by 16.1% during the second quarter. QRG Capital Management Inc. now owns 199,492 shares of the mining company’s stock worth $16,620,000 after acquiring an additional 27,728 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in BHP Group by 35.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,283 shares of the mining company’s stock worth $523,000 after acquiring an additional 1,631 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of BHP Group by 4.2% during the second quarter. Sequoia Financial Advisors LLC now owns 55,237 shares of the mining company’s stock worth $4,602,000 after acquiring an additional 2,227 shares during the period. Institutional investors and hedge funds own 3.79% of the company’s stock.
About BHP Group
BHP Group Limited is a global resources company headquartered in Melbourne, Australia. Its principal activities include the exploration, development and production of mineral resources, with a portfolio focused on commodities that support infrastructure, electrification and economic growth.
The company is a major producer of iron ore, which it supplies to steelmakers, and copper, used in electrical equipment, construction and renewable-energy technologies. BHP has also been involved in metallurgical coal and potash, an agricultural nutrient.