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

ABC Arbitrage SA purchased a new position in BHP Group Limited (NYSE:BHP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 holdings, making the stock its 22nd largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BHP. Eastern Bank purchased a new stake in shares of BHP Group during the 3rd quarter valued at approximately $26,000. Farmers & Merchants Investments Inc. acquired a new stake in BHP Group during the 3rd quarter worth approximately $50,000. Versant Capital Management Inc purchased a new position in BHP Group in the fourth quarter valued at $40,000. Union Bancaire Privee UBP SA acquired a new position in shares of BHP Group during the fourth quarter worth about $46,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of BHP Group in the 4th quarter valued at approximately $54,000. 3.79% of the stock is currently owned by institutional investors and hedge funds.

BHP Group Trading Down 1.6 %

Shares of NYSE:BHP traded down $0.84 during trading on Wednesday, reaching $51.10. The stock had a trading volume of 2,746,438 shares, compared to its average volume of 2,433,198. BHP Group Limited has a fifty-two week low of $48.06 and a fifty-two week high of $63.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.29 and a current ratio of 1.70. The business has a fifty day moving average price of $49.86 and a 200-day moving average price of $53.18.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Jefferies Financial Group cut their price objective on shares of BHP Group from $57.00 to $53.00 and set a "hold" rating on the stock in a report on Monday, January 6th. StockNews.com cut shares of BHP Group from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, BHP Group has a consensus rating of "Moderate Buy" and a consensus target price of $53.00.

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