Bridgewater Associates LP Invests $2.98 Million in BHP Group Limited (NYSE:BHP)

Bridgewater Associates LP bought a new stake in BHP Group Limited (NYSE:BHP - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 47,980 shares of the mining company's stock, valued at approximately $2,980,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle West Asset Management Inc. boosted its holdings in shares of BHP Group by 2.6% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 7,925 shares of the mining company's stock valued at $452,000 after buying an additional 200 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of BHP Group by 0.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,500 shares of the mining company's stock valued at $1,570,000 after purchasing an additional 202 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of BHP Group by 4.1% in the third quarter. Bleakley Financial Group LLC now owns 5,101 shares of the mining company's stock worth $317,000 after buying an additional 203 shares during the last quarter. Huntington National Bank grew its stake in shares of BHP Group by 17.5% in the third quarter. Huntington National Bank now owns 1,365 shares of the mining company's stock worth $85,000 after acquiring an additional 203 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC lifted its position in shares of BHP Group by 1.1% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 19,208 shares of the mining company's stock worth $1,097,000 after acquiring an additional 208 shares during the period. 3.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on BHP. StockNews.com upgraded BHP Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, November 26th. Argus upgraded BHP Group to a "strong-buy" rating in a report on Thursday, September 19th. Jefferies Financial Group downgraded BHP Group from a "buy" rating to a "hold" rating and reduced their price target for the company from $72.00 to $68.00 in a research note on Friday, October 4th. Finally, Sanford C. Bernstein upgraded BHP Group from a "market perform" rating to an "outperform" rating in a research note on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.00.

BHP Group Stock Up 1.6 %

NYSE:BHP traded up $0.85 during trading hours on Friday, reaching $52.65. The company had a trading volume of 1,362,519 shares, compared to its average volume of 2,336,197. The company has a current ratio of 1.70, a quick ratio of 1.29 and a debt-to-equity ratio of 0.38. BHP Group Limited has a 52 week low of $50.90 and a 52 week high of $69.11. The firm's 50 day moving average price is $56.28 and its 200-day moving average price is $56.19.

BHP Group 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.