Brokerages Set BHP Group Limited (NYSE:BHP) Target Price at $53.00

Shares of BHP Group Limited (NYSE:BHP) have been assigned an average rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $53.00.

BHP has been the subject of a number of analyst reports. StockNews.com cut BHP Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th. Clarkson Capital upgraded BHP Group to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group cut their price target on shares of BHP Group from $57.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday, January 6th.

BHP Group Price Performance

BHP opened at $49.68 on Wednesday. The company has a fifty day moving average price of $50.03 and a two-hundred day moving average price of $52.51. The firm has a market capitalization of $125.98 billion, a PE ratio of 11.29 and a beta of 0.90. BHP Group has a 52 week low of $48.06 and a 52 week high of $63.21. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.25 and a current ratio of 1.70.

BHP Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 7th will be issued a $1.00 dividend. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 4.8%. BHP Group’s dividend payout ratio (DPR) is currently 44.77%.

Hedge Funds Weigh In On BHP Group

Several institutional investors have recently modified their holdings of the business. Fisher Asset Management LLC lifted its stake in BHP Group by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 22,225,134 shares of the mining company’s stock valued at $1,085,253,000 after buying an additional 280,258 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of BHP Group by 13.0% during the third quarter. Wellington Management Group LLP now owns 5,603,624 shares of the mining company’s stock worth $348,041,000 after acquiring an additional 642,765 shares during the period. Northern Trust Corp lifted its position in BHP Group by 58.5% in the 4th quarter. Northern Trust Corp now owns 2,294,562 shares of the mining company’s stock valued at $112,043,000 after acquiring an additional 846,963 shares in the last quarter. FMR LLC boosted its stake in BHP Group by 10.0% in the 3rd quarter. FMR LLC now owns 1,434,417 shares of the mining company’s stock worth $89,092,000 after purchasing an additional 129,908 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of BHP Group by 16.9% in the 4th quarter. Marshall Wace LLP now owns 710,003 shares of the mining company’s stock valued at $34,669,000 after purchasing an additional 102,433 shares during the period. Institutional investors 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.