BHP Group (NYSE:BHP) Shares Gap Down to $53.66

BHP Group Limited (NYSE:BHP) gapped down prior to trading on Wednesday . The stock had previously closed at $53.66, but opened at $52.36. BHP Group shares last traded at $52.26, with a volume of 570,479 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BHP shares. Citigroup started coverage on shares of BHP Group in a report on Friday, May 31st. They set a “buy” rating on the stock. Barclays reaffirmed an “equal weight” rating on shares of BHP Group in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, BHP Group presently has an average rating of “Hold” and a consensus price target of $50.00.

BHP Group Price Performance

The stock has a fifty day moving average of $56.49 and a 200 day moving average of $57.75. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.22. The stock has a market cap of $132.55 billion, a price-to-earnings ratio of 10.32, a P/E/G ratio of 3.45 and a beta of 0.98.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bank of Montreal Can increased its holdings in shares of BHP Group by 532.2% during the 2nd quarter. Bank of Montreal Can now owns 2,353,268 shares of the mining company’s stock valued at $134,442,000 after purchasing an additional 1,981,008 shares in the last quarter. Harmony Asset Management LLC acquired a new stake in BHP Group in the 2nd quarter valued at $306,000. EverSource Wealth Advisors LLC lifted its holdings in BHP Group by 35.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,378 shares of the mining company’s stock valued at $132,000 after purchasing an additional 625 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of BHP Group by 1.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 20,900 shares of the mining company’s stock worth $1,193,000 after purchasing an additional 279 shares during the last quarter. Finally, Heron Bay Capital Management boosted its holdings in BHP Group by 9.0% in the 2nd quarter. Heron Bay Capital Management now owns 7,338 shares of the mining company’s stock worth $419,000 after buying an additional 606 shares during the last quarter. Hedge funds and other 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, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.