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

Shares of BHP Group Limited (NYSE:BHP) gapped up before the market opened 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 traded.

Wall Street Analyst Weigh In

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

BHP Group Stock Up 0.2 %

The stock has a fifty day moving average of $58.07 and a 200-day moving average of $60.11. The company has a quick ratio of 1.22, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

BHP Group Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BHP. Arrowstreet Capital Limited Partnership lifted its holdings in BHP Group by 119.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,338,797 shares of the mining company’s stock worth $798,672,000 after buying an additional 5,632,545 shares during the last quarter. Norges Bank purchased a new stake in BHP Group during the 4th quarter worth about $191,837,000. Wellington Management Group LLP lifted its holdings in BHP Group by 46.6% during the 4th quarter. Wellington Management Group LLP now owns 4,389,504 shares of the mining company’s stock worth $299,847,000 after buying an additional 1,395,940 shares during the last quarter. Bank of America Corp DE lifted its holdings in BHP Group by 33.2% during the 1st quarter. Bank of America Corp DE now owns 3,768,982 shares of the mining company’s stock worth $238,991,000 after buying an additional 938,755 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in BHP Group by 96.4% during the 1st quarter. Royal Bank of Canada now owns 1,463,194 shares of the mining company’s stock worth $113,033,000 after buying an additional 718,247 shares during the last quarter. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

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.