Franklin Resources Inc. Purchases 46,791 Shares of BHP Group Limited (NYSE:BHP)

Franklin Resources Inc. grew its holdings in shares of BHP Group Limited (NYSE:BHP) by 17.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 316,454 shares of the mining company’s stock after buying an additional 46,791 shares during the period. Franklin Resources Inc.’s holdings in BHP Group were worth $18,807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Eastern Bank bought a new position in BHP Group in the 3rd quarter valued at approximately $26,000. Asset Dedication LLC increased its position in BHP Group by 7,516.7% in 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. Ashton Thomas Private Wealth LLC bought a new position in shares of BHP Group in the second quarter worth about $27,000. Sound Income Strategies LLC lifted its position in shares of BHP Group by 124.6% during the 3rd quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock valued at $33,000 after buying an additional 294 shares in the last quarter. Finally, Addison Advisors LLC grew its stake in shares of BHP Group by 1,187.0% during the 2nd quarter. Addison Advisors LLC now owns 592 shares of the mining company’s stock valued at $34,000 after acquiring an additional 546 shares during the period. 3.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

BHP Group Stock Down 0.9 %

BHP opened at $48.94 on Friday. The company has a market capitalization of $124.10 billion, a PE ratio of 10.59 and a beta of 0.95. The firm has a 50-day simple moving average of $54.08 and a two-hundred day simple moving average of $55.45. 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 Limited has a 52 week low of $48.85 and a 52 week high of $69.11.

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.