Investing in BHP Group Limited [BHP]: What You Must Know


As published in a research note from Berenberg on January 12, 2023, BHP Group Limited [BHP] has been rated up from a Hold to a Buy. Analysts at UBS downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in mid December. As of November 23, 2022, BofA Securities has increased its “Neutral” rating to a “Buy” for BHP. Earlier on August 09, 2022, CLSA downgraded its rating. Their new recommendation was “an Outperform” for BHP stock which previously was a “a Buy”.

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Analyzing BHP Stock Performance

On Thursday, BHP Group Limited [NYSE: BHP] plunged -2.10% to $62.83. The stock’s lowest price that day was $62.22, but it reached a high of $63.92 in the same session. During the last five days, there has been a drop of approximately -5.94%. Over the course of the year, BHP Group Limited shares have jumped approximately 1.26%. Shares of the company reached a 52-week high of $71.52 on 01/26/23 and a 52-week low of $61.05 on 01/03/23. A 50-day SMA is recorded $65.80, while a 200-day SMA reached $58.51. Nevertheless, trading volume fell to 4.08 million shares from 3.13 million shares the previous day.

Support And Resistance Levels for BHP Group Limited (BHP)

According to the 24-hour chart, there is a support level at 62.06, which, if violated, would cause prices to drop to 61.29. In the upper region, resistance lies at 63.76. The next price resistance is at 64.69. RSI (Relative Strength Index) is 32.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.76, which suggests the price will decrease in the coming days. Percent R is at 89.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is BHP Group Limited subject to short interest?

Stocks of BHP Group Limited saw a sharp rise in short interest on Jan 30, 2023 jumping by 1.05 million shares to 6.5 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 5.45 million shares. A jump of 16.15% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.19 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.19.

Which companies own the most shares of BHP Group Limited (BHP)?

According to Fisher Asset Management LLC filings, the company currently owns 17,836,400 shares, which is about 0.70% of the total BHP shares outstanding. The investor’s shares have appreciated by 225,603 from its previous 13-F filing of 17610797.0 shares. With the completion of the sale transaction, Harding Loevner LP’s stake is now worth $970,044,512. Dimensional Fund Advisors LP acquire a 8.17% interest valued at $262.17 million while Parametric Portfolio Associates L purchased a 75,649 stake. A total of -1,820,899 shares of BHP Group Limited were bought by Norges Bank Investment Management during the quarter, and 12,123 were bought by Goldman Sachs Asset Management LP. In its current portfolio, Merrill Lynch, Pierce, Fenner & S holds 1,516,378 shares valued at $106.37 million.

In terms of BHP Group Limited share price expectations, FactSet research, analysts set an average price target of $63.99 in the next 12 months, down nearly -0.28% from the previous closing price of $64.18. Analysts anticipate BHP Group Limited stock to reach $80.12 by 2023, with the lowest price target being $49.62. In spite of this, 27 analysts ranked BHP Group Limited stock as a Hold at the end of 2023.


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