BHP Group (NYSE:BHP) Downgraded by Bank of America to “Underperform”

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

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

Shares of BHP traded down $0.49 during trading on Friday, reaching $48.81. The company’s stock had a trading volume of 2,324,400 shares, compared to its average volume of 1,975,951. The company has a fifty day moving average of $55.19 and a two-hundred day moving average of $53.88. BHP Group has a twelve month low of $43.19 and a twelve month high of $59.02. The company has a market cap of $78.97 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 2.76 and a beta of 0.82. The company has a quick ratio of 2.16, a current ratio of 2.55 and a debt-to-equity ratio of 0.43.

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of BHP Group by 26.1% during the 4th quarter. Geode Capital Management LLC now owns 21,896 shares of the mining company’s stock valued at $1,056,000 after purchasing an additional 4,528 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in BHP Group during the first quarter valued at $214,000. Flagship Harbor Advisors LLC grew its stake in BHP Group by 28.4% during the first quarter. Flagship Harbor Advisors LLC now owns 2,431 shares of the mining company’s stock valued at $132,000 after acquiring an additional 538 shares in the last quarter. Pennsylvania Trust Co purchased a new position in BHP Group during the first quarter valued at $14,236,000. Finally, Sage Rhino Capital LLC purchased a new position in BHP Group during the first quarter valued at $589,000. 3.61% of the stock is currently owned by institutional investors and hedge funds.

About BHP Group

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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