BHP Group Limited (NYSE:BHP) Sees Significant Decrease in Short Interest

BHP Group Limited (NYSE:BHP - Get Free Report) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 9,790,000 shares, a drop of 15.5% from the September 15th total of 11,580,000 shares. Based on an average trading volume of 2,610,000 shares, the days-to-cover ratio is currently 3.8 days.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Jefferies Financial Group downgraded shares of BHP Group from a "buy" rating to a "hold" rating and reduced their target price for the stock from $72.00 to $68.00 in a report on Friday, October 4th. Argus raised shares of BHP Group to a "strong-buy" rating in a research report on Thursday, September 19th. Sanford C. Bernstein raised shares of BHP Group from a "market perform" rating to an "outperform" rating in a report on Monday, September 16th. Finally, StockNews.com upgraded BHP Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, BHP Group has an average rating of "Moderate Buy" and an average price target of $68.00.

BHP Group Trading Up 0.8 %

Shares of BHP Group stock traded up $0.49 on Monday, reaching $59.44. 2,277,436 shares of the stock were exchanged, compared to its average volume of 2,491,937. The business has a 50 day moving average price of $55.43 and a two-hundred day moving average price of $56.93. 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 has a twelve month low of $50.90 and a twelve month high of $69.11.

BHP Group Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were given a dividend of $1.465 per share. The ex-dividend date was Friday, September 13th. This is an increase from BHP Group's previous Semi-Annual dividend of $1.44. This represents a yield of 5.2%.

Institutional Investors Weigh In On BHP Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BHP. Asset Dedication LLC grew its holdings in BHP Group by 7,516.7% during the second quarter. Asset Dedication LLC now owns 457 shares of the mining company's stock worth $26,000 after acquiring an additional 451 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of BHP Group during the 2nd quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of BHP Group in the 2nd quarter valued at $27,000. Rise Advisors LLC purchased a new stake in BHP Group during the first quarter worth $29,000. Finally, WFA Asset Management Corp acquired a new stake in BHP Group during the first quarter valued at $31,000. 3.79% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.