ABC Arbitrage SA Purchases New Position in BHP Group Limited (NYSE:BHP)

ABC Arbitrage SA bought a new position in shares of BHP Group Limited (NYSE:BHP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 156,764 shares of the mining company’s stock, valued at approximately $7,655,000. BHP Group makes up about 1.1% of ABC Arbitrage SA’s investment portfolio, making the stock its 22nd largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in BHP. SeaCrest Wealth Management LLC lifted its stake in BHP Group by 16.2% in the third quarter. SeaCrest Wealth Management LLC now owns 5,876 shares of the mining company’s stock valued at $365,000 after buying an additional 821 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in BHP Group by 4.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 5,101 shares of the mining company’s stock worth $317,000 after purchasing an additional 203 shares during the period. Inspire Advisors LLC increased its stake in BHP Group by 5.0% in the third quarter. Inspire Advisors LLC now owns 11,112 shares of the mining company’s stock valued at $690,000 after purchasing an additional 531 shares during the period. Stratos Wealth Advisors LLC raised its holdings in shares of BHP Group by 74.9% in the third quarter. Stratos Wealth Advisors LLC now owns 44,271 shares of the mining company’s stock valued at $2,750,000 after buying an additional 18,963 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of BHP Group by 113.2% during the third quarter. Blue Trust Inc. now owns 15,295 shares of the mining company’s stock worth $873,000 after buying an additional 8,122 shares during the period. 3.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Jefferies Financial Group reduced their price objective on BHP Group from $57.00 to $53.00 and set a “hold” rating for the company in a research note on Monday, January 6th. StockNews.com lowered shares of BHP Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BHP Group currently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

BHP Group Trading Down 0.5 %

NYSE:BHP opened at $51.57 on Friday. The stock has a market capitalization of $130.78 billion, a price-to-earnings ratio of 11.56 and a beta of 0.95. BHP Group Limited has a 1 year low of $48.06 and a 1 year high of $63.21. The stock has a fifty day moving average price of $49.93 and a two-hundred day moving average price of $53.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.29 and a current ratio of 1.70.

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, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.