Zacks Investment Research upgraded shares of BHP Group (NYSE:BBL) from a hold rating to a strong-buy rating in a research note published on Monday morning, Zacks.com reports. Zacks Investment Research currently has $51.00 price objective on the mining company’s stock.
According to Zacks, “BHP Billiton Plc is engaged in production of minerals which includes iron ore, metallurgical coal, copper and uranium as well as oil, gas and energy coal. BHP Billiton Plc is based in Collins Street, Melbourne Victoria. “
BBL has been the subject of a number of other reports. ValuEngine lowered shares of BHP Group from a hold rating to a sell rating in a report on Monday, August 3rd. JPMorgan Chase & Co. reissued an overweight rating on shares of BHP Group in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $31.50.
Shares of BBL opened at $46.40 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.45 and a quick ratio of 1.17. BHP Group has a 1 year low of $23.64 and a 1 year high of $48.67. The company has a 50 day simple moving average of $45.51 and a two-hundred day simple moving average of $38.58. The firm has a market cap of $49.00 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 2.68 and a beta of 1.03.
Several hedge funds have recently bought and sold shares of BBL. York Capital Management Global Advisors LLC purchased a new position in shares of BHP Group in the first quarter valued at $68,452,000. Assenagon Asset Management S.A. bought a new stake in shares of BHP Group in the second quarter valued at about $32,917,000. Wellington Management Group LLP grew its stake in BHP Group by 41.4% in the first quarter. Wellington Management Group LLP now owns 2,180,160 shares of the mining company’s stock valued at $66,146,000 after purchasing an additional 638,026 shares during the last quarter. Whitebox Advisors LLC purchased a new position in BHP Group in the first quarter valued at about $16,644,000. Finally, Verition Fund Management LLC grew its stake in BHP Group by 4,062.9% in the second quarter. Verition Fund Management LLC now owns 499,258 shares of the mining company’s stock valued at $20,544,000 after purchasing an additional 487,265 shares during the last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.
BHP Group Company Profile
BHP Group discovers, acquires, develops, and markets natural resources worldwide. The company engages in the exploration, development, and production of oil and gas properties; and mining of copper, silver, lead, zinc, molybdenum, uranium, gold, and iron ores, as well as metallurgical and energy coal.
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