SPX Gestao de Recursos Ltda Purchases New Stake in BHP Group Limited (NYSE:BHP)

SPX Gestao de Recursos Ltda acquired a new stake in shares of BHP Group Limited (NYSE:BHP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 190,933 shares of the mining company's stock, valued at approximately $9,323,000. BHP Group comprises approximately 1.4% of SPX Gestao de Recursos Ltda's portfolio, making the stock its 23rd largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sierra Ocean LLC purchased a new stake in BHP Group during the 4th quarter worth $29,000. Versant Capital Management Inc acquired a new position in shares of BHP Group in the 4th quarter worth approximately $40,000. Union Bancaire Privee UBP SA bought a new position in BHP Group during the fourth quarter worth $46,000. Newbridge Financial Services Group Inc. acquired a new position in shares of BHP Group in the 4th quarter valued at about $54,000. Finally, Rothschild Investment LLC boosted its stake in BHP Group by 119.4% in the fourth quarter. Rothschild Investment LLC now owns 1,301 shares of the mining company's stock valued at $64,000 after acquiring an additional 708 shares during the period. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

BHP Group Stock Performance

BHP stock traded up $0.32 on Thursday, reaching $48.68. 3,154,511 shares of the company were exchanged, compared to its average volume of 2,414,549. The stock's fifty day moving average price is $49.88 and its 200 day moving average price is $52.76. The firm has a market capitalization of $123.43 billion, a PE ratio of 11.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.70 and a quick ratio of 1.25. BHP Group Limited has a 12 month low of $48.06 and a 12 month high of $63.21.

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BHP Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 7th will be issued a dividend of $1.00 per share. This represents a yield of 4.8%. The ex-dividend date is Friday, March 7th. BHP Group's payout ratio is 44.77%.

Analyst Ratings Changes

Several research firms have commented on BHP. StockNews.com cut shares of BHP Group from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th. Clarkson Capital raised BHP Group to a "strong-buy" rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group decreased their price target on shares of BHP Group from $57.00 to $53.00 and set a "hold" rating on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $53.00.

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.