BHP Group Limited (NYSE:BHP) Sees Large Increase in Short Interest

BHP Group Limited (NYSE:BHP) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 11,120,000 shares, a growth of 6.4% from the October 31st total of 10,450,000 shares. Based on an average daily volume of 2,510,000 shares, the days-to-cover ratio is currently 4.4 days.

BHP Group Stock Up 1.0 %

BHP stock traded up $0.53 during trading on Tuesday, reaching $53.38. 1,021,199 shares of the stock were exchanged, compared to its average volume of 2,448,403. The company has a quick ratio of 1.29, a current ratio of 1.70 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. The firm’s 50 day moving average is $56.28 and its 200 day moving average is $56.17.

Hedge Funds Weigh In On BHP Group

A number of institutional investors have recently modified their holdings of the company. Franklin Resources Inc. increased its position in shares of BHP Group by 17.4% during the third quarter. Franklin Resources Inc. now owns 316,454 shares of the mining company’s stock worth $18,807,000 after acquiring an additional 46,791 shares in the last quarter. Peapack Gladstone Financial Corp grew its holdings in BHP Group by 13.0% during the third quarter. Peapack Gladstone Financial Corp now owns 59,502 shares of the mining company’s stock worth $3,695,000 after buying an additional 6,863 shares in the last quarter. Synovus Financial Corp lifted its stake in BHP Group by 18.7% during the 3rd quarter. Synovus Financial Corp now owns 7,423 shares of the mining company’s stock valued at $461,000 after acquiring an additional 1,168 shares in the last quarter. Tidal Investments LLC boosted its holdings in BHP Group by 21.8% during the 3rd quarter. Tidal Investments LLC now owns 141,455 shares of the mining company’s stock worth $8,786,000 after acquiring an additional 25,342 shares during the last quarter. Finally, Optimist Retirement Group LLC lifted its position in shares of BHP Group by 16.3% during the third quarter. Optimist Retirement Group LLC now owns 38,823 shares of the mining company’s stock valued at $2,411,000 after purchasing an additional 5,432 shares in the last quarter. 3.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BHP has been the subject of several recent research reports. StockNews.com upgraded shares of BHP Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein upgraded BHP Group from a “market perform” rating to an “outperform” rating in a research report on Monday, September 16th. Argus upgraded BHP Group to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Jefferies Financial Group lowered shares of BHP Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $72.00 to $68.00 in a report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.00.

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.