BHP Group (NYSE:BHP) Shares Gap Up to $56.96

BHP Group Limited (NYSE:BHP) shares gapped up prior to trading on Wednesday . The stock had previously closed at $56.96, but opened at $58.98. BHP Group shares last traded at $58.45, with a volume of 2,730,392 shares.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Liberum Capital reissued a “hold” rating on shares of BHP Group in a research note on Tuesday, March 5th. StockNews.com downgraded shares of BHP Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Citigroup raised shares of BHP Group from a “neutral” rating to a “buy” rating in a research note on Thursday, March 14th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, BHP Group presently has a consensus rating of “Hold” and an average target price of $50.00.

BHP Group Stock Performance

The company has a quick ratio of 1.22, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $58.07 and its two-hundred day moving average price is $60.11.

BHP Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were paid a $1.44 dividend. This represents a dividend yield of 5.2%. The ex-dividend date of this dividend was Thursday, March 7th.

Hedge Funds Weigh In On BHP Group

A number of hedge funds have recently modified their holdings of BHP. Salem Investment Counselors Inc. increased its stake in shares of BHP Group by 110.0% in the second quarter. Salem Investment Counselors Inc. now owns 460 shares of the mining company’s stock worth $26,000 after acquiring an additional 241 shares during the last quarter. Covestor Ltd bought a new stake in BHP Group in the first quarter worth $26,000. Russell Investments Group Ltd. bought a new stake in BHP Group in the first quarter worth $27,000. Eagle Bay Advisors LLC bought a new stake in BHP Group in the fourth quarter worth $28,000. Finally, Rise Advisors LLC bought a new stake in BHP Group in the first quarter worth $29,000. 3.79% of the stock is owned by institutional investors and hedge funds.

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.