BHP Group (BHP) Cut to “Neutral” at Goldman Sachs Group

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Goldman Sachs Group cut shares of BHP Group (NYSE:BHP) from a buy rating to a neutral rating in a research report released on Monday, Marketbeat Ratings reports.

A number of other brokerages also recently issued reports on BHP. JPMorgan Chase & Co. downgraded shares of BHP Group from a neutral rating to an underweight rating in a research report on Monday, February 4th. They noted that the move was a valuation call. CLSA downgraded shares of BHP Group from an outperform rating to an underperform rating in a research report on Thursday, February 7th. Zacks Investment Research raised shares of BHP Group from a sell rating to a hold rating in a research report on Wednesday, January 30th. Deutsche Bank downgraded shares of BHP Group from a hold rating to a sell rating in a research report on Tuesday, January 8th. Finally, Jefferies Financial Group upgraded shares of BHP Group from a hold rating to a buy rating in a research note on Monday, January 28th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $49.50.

Shares of BHP stock opened at $51.66 on Monday. BHP Group has a 52-week low of $43.10 and a 52-week high of $52.62. The company has a quick ratio of 2.24, a current ratio of 2.51 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $82.31 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 2.62 and a beta of 0.82.

The business also recently announced a dividend, which was paid on Wednesday, January 30th. Shareholders of record on Friday, January 11th were paid a $2.04 dividend. This is a boost from BHP Group’s previous dividend of $0.32. The ex-dividend date was Thursday, January 10th. BHP Group’s payout ratio is presently 75.00%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fisher Asset Management LLC boosted its stake in BHP Group by 18.3% in the third quarter. Fisher Asset Management LLC now owns 6,474,353 shares of the mining company’s stock valued at $322,682,000 after acquiring an additional 1,000,365 shares during the last quarter. FMR LLC lifted its stake in shares of BHP Group by 2.2% during the 2nd quarter. FMR LLC now owns 2,225,815 shares of the mining company’s stock valued at $111,313,000 after buying an additional 48,406 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of BHP Group by 38.8% during the 3rd quarter. Jennison Associates LLC now owns 1,496,369 shares of the mining company’s stock valued at $74,579,000 after buying an additional 418,044 shares in the last quarter. Tocqueville Asset Management L.P. lifted its stake in shares of BHP Group by 7.5% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 1,149,923 shares of the mining company’s stock valued at $57,312,000 after buying an additional 79,970 shares in the last quarter. Finally, Aperio Group LLC lifted its stake in shares of BHP Group by 4.0% during the 3rd quarter. Aperio Group LLC now owns 1,011,221 shares of the mining company’s stock valued at $50,399,000 after buying an additional 38,931 shares in the last quarter. Hedge funds and other institutional investors own 3.42% 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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