NewEdge Advisors LLC Reduces Stock Holdings in BHP Group Limited Sponsored ADR $BHP

NewEdge Advisors LLC lowered its stake in BHP Group Limited Sponsored ADR (NYSE:BHP – Free Report) by 23.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,455 shares of the mining company’s stock after selling 24,569 shares during the period. NewEdge Advisors LLC’s holdings in BHP Group were worth $5,852,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BHP. Morgan Stanley raised its stake in BHP Group by 22.8% in the fourth quarter. Morgan Stanley now owns 13,800,183 shares of the mining company’s stock worth $833,117,000 after buying an additional 2,562,747 shares in the last quarter. SIH Partners LLLP lifted its stake in shares of BHP Group by 937.5% in the 3rd quarter. SIH Partners LLLP now owns 1,856,704 shares of the mining company’s stock valued at $103,511,000 after purchasing an additional 1,677,739 shares during the period. Bank of Montreal Can boosted its position in shares of BHP Group by 264.4% during the fourth quarter. Bank of Montreal Can now owns 1,358,585 shares of the mining company’s stock valued at $82,018,000 after purchasing an additional 985,794 shares in the last quarter. Bank of America Corp DE boosted its position in shares of BHP Group by 25.2% during the third quarter. Bank of America Corp DE now owns 3,465,421 shares of the mining company’s stock valued at $193,197,000 after purchasing an additional 697,316 shares in the last quarter. Finally, Main Street Research LLC bought a new stake in shares of BHP Group during the first quarter valued at approximately $37,767,000. 3.79% of the stock is currently owned by institutional investors.

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BHP Group Trading Up 0.2%

NYSE:BHP opened at $90.59 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44. BHP Group Limited Sponsored ADR has a 12 month low of $51.83 and a 12 month high of $93.83. The company has a 50 day simple moving average of $84.92 and a two-hundred day simple moving average of $79.49.

Wall Street Analyst Weigh In

Several equities analysts have commented on BHP shares. The Goldman Sachs Group raised BHP Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Zacks Research lowered shares of BHP Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Citigroup reissued a “neutral” rating on shares of BHP Group in a research report on Monday, June 8th. Bank of America dropped their price objective on shares of BHP Group from $93.00 to $91.00 and set a “neutral” rating on the stock in a research note on Monday, June 22nd. Finally, Argus set a $95.00 price objective on shares of BHP Group in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $78.00.

View Our Latest Analysis on BHP Group

BHP Group Company Profile

(Free Report)

BHP Group is an Anglo-Australian natural resources company engaged principally in the exploration, development, production and marketing of commodities. Its core businesses include the extraction and processing of iron ore, copper, metallurgical and thermal coal, nickel and other minerals. BHP operates large-scale mining and processing assets and supplies raw materials used across steelmaking, energy and industrial supply chains.

The company has a global operating footprint with significant assets and projects in Australia and the Americas, and commercial activities that serve customers worldwide.

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