Bank of America Downgrades BHP Group (NYSE:BHP) to Underperform

Bank of America downgraded shares of BHP Group (NYSE:BHP) from a neutral rating to an underperform rating in a research report sent to investors on Friday, 24/7 WallStreet reports.

BHP has been the topic of several other research reports. JPMorgan Chase & Co. raised shares of BHP Group from an underweight rating to a neutral rating in a research report on Friday, July 12th. Citigroup cut shares of BHP Group from a buy rating to a neutral rating in a research note on Wednesday, May 1st. Jefferies Financial Group cut shares of BHP Group from a buy rating to a hold rating in a research note on Tuesday, August 6th. UBS Group cut shares of BHP Group from a buy rating to a neutral rating in a research note on Monday, April 22nd. Finally, ValuEngine cut shares of BHP Group from a hold rating to a sell rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $64.00.

NYSE:BHP opened at $49.14 on Friday. The company has a market cap of $78.95 billion, a PE ratio of 14.63, a P/E/G ratio of 2.77 and a beta of 0.82. BHP Group has a twelve month low of $43.19 and a twelve month high of $59.02. The company has a current ratio of 2.55, a quick ratio of 2.16 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $54.64 and its two-hundred day moving average is $53.81.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fisher Asset Management LLC lifted its stake in shares of BHP Group by 3.8% in the 2nd quarter. Fisher Asset Management LLC now owns 7,166,822 shares of the mining company’s stock valued at $416,464,000 after purchasing an additional 265,025 shares during the period. Lazard Asset Management LLC raised its position in BHP Group by 273.7% during the first quarter. Lazard Asset Management LLC now owns 2,540,159 shares of the mining company’s stock worth $138,870,000 after acquiring an additional 1,860,489 shares during the period. Parametric Portfolio Associates LLC raised its position in BHP Group by 3.1% during the second quarter. Parametric Portfolio Associates LLC now owns 1,848,292 shares of the mining company’s stock worth $107,404,000 after acquiring an additional 55,916 shares during the period. Segantii Capital Management Ltd raised its position in BHP Group by 349.8% during the second quarter. Segantii Capital Management Ltd now owns 1,276,459 shares of the mining company’s stock worth $73,633,000 after acquiring an additional 992,659 shares during the period. Finally, Aperio Group LLC raised its position in BHP Group by 0.8% during the second quarter. Aperio Group LLC now owns 1,145,037 shares of the mining company’s stock worth $66,538,000 after acquiring an additional 8,637 shares during the period. Institutional investors and hedge funds own 3.60% of the company’s stock.

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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Analyst Recommendations for BHP Group (NYSE:BHP)

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