Short Interest in BHP Group Limited (NYSE:BHP) Declines By 10.0%

BHP Group Limited (NYSE:BHP) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 9,030,000 shares, a drop of 10.0% from the March 15th total of 10,030,000 shares. Based on an average trading volume of 2,610,000 shares, the days-to-cover ratio is presently 3.5 days.

BHP Group Price Performance

Shares of BHP stock traded up $1.48 during trading on Wednesday, hitting $58.44. The company’s stock had a trading volume of 2,913,637 shares, compared to its average volume of 2,610,686. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.22 and a current ratio of 1.57. The business has a fifty day moving average of $58.16 and a 200-day moving average of $60.13. BHP Group has a 52 week low of $54.28 and a 52 week high of $69.11.

BHP Group Cuts Dividend

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

Analyst Upgrades and Downgrades

BHP has been the subject of several analyst reports. Liberum Capital reissued a “hold” rating on shares of BHP Group in a research note on Tuesday, March 5th. Citigroup upgraded BHP Group from a “neutral” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, StockNews.com downgraded shares of BHP Group from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, BHP Group has a consensus rating of “Hold” and an average target price of $50.00.

Institutional Investors Weigh In On BHP Group

Several large investors have recently made changes to their positions in the business. Salem Investment Counselors Inc. boosted its holdings in shares of BHP Group by 110.0% in the 2nd quarter. Salem Investment Counselors Inc. now owns 460 shares of the mining company’s stock worth $26,000 after buying an additional 241 shares during the last quarter. Covestor Ltd bought a new stake in BHP Group in the first quarter worth about $26,000. Russell Investments Group Ltd. purchased a new position in BHP Group in the first quarter valued at about $27,000. Eagle Bay Advisors LLC bought a new position in shares of BHP Group during the 4th quarter valued at approximately $28,000. Finally, Rise Advisors LLC bought a new position in shares of BHP Group during the 1st quarter valued at approximately $29,000. 3.79% of the stock is owned by hedge funds and other institutional investors.

About BHP Group

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.