Bridgewater Associates LP Purchases Shares of 47,980 BHP Group Limited (NYSE:BHP)

Bridgewater Associates LP acquired a new position in shares of BHP Group Limited (NYSE:BHP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 47,980 shares of the mining company’s stock, valued at approximately $2,980,000.

Other hedge funds have also modified their holdings of the company. Asset Dedication LLC increased its position 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 buying an additional 451 shares in the last quarter. Eastern Bank acquired a new stake in shares of BHP Group during the third quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in BHP Group during the 2nd quarter worth about $27,000. Ashton Thomas Private Wealth LLC acquired a new position in BHP Group in the 2nd quarter valued at about $27,000. Finally, Sound Income Strategies LLC raised its stake in BHP Group by 124.6% in the 3rd quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock valued at $33,000 after purchasing an additional 294 shares during the last quarter. 3.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

BHP Group Stock Performance

Shares of BHP stock opened at $52.65 on Friday. 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 firm has a market capitalization of $133.51 billion, a price-to-earnings ratio of 11.30 and a beta of 0.98. BHP Group Limited has a one year low of $50.90 and a one year high of $69.11. The company has a 50 day moving average price of $56.28 and a 200 day moving average price of $56.19.

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.