Cairn Investment Group Inc. Takes Position in BHP Group Limited (NYSE:BHP)

Cairn Investment Group Inc. purchased a new position in shares of BHP Group Limited (NYSE:BHP – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,190 shares of the mining company’s stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BHP. Arrowstreet Capital Limited Partnership boosted its position in shares of BHP Group by 119.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,338,797 shares of the mining company’s stock valued at $798,672,000 after purchasing an additional 5,632,545 shares during the period. Bank of Montreal Can grew its position in shares of BHP Group by 233.4% during the third quarter. Bank of Montreal Can now owns 1,192,159 shares of the mining company’s stock worth $63,054,000 after acquiring an additional 834,544 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of BHP Group by 53.7% in the 2nd quarter. Franklin Resources Inc. now owns 2,302,142 shares of the mining company’s stock valued at $129,334,000 after acquiring an additional 804,469 shares during the period. Royal Bank of Canada raised its position in BHP Group by 96.4% in the 1st quarter. Royal Bank of Canada now owns 1,463,194 shares of the mining company’s stock valued at $113,033,000 after purchasing an additional 718,247 shares during the last quarter. Finally, UBS Group AG boosted its stake in BHP Group by 646.4% during the 2nd quarter. UBS Group AG now owns 525,386 shares of the mining company’s stock worth $29,516,000 after purchasing an additional 621,544 shares during the period. 5.90% of the stock is owned by hedge funds and other institutional investors.

BHP Group Price Performance

BHP Group stock opened at $57.60 on Friday. The stock’s 50 day moving average price is $65.69 and its 200 day moving average price is $58.98. BHP Group Limited has a 1-year low of $46.92 and a 1-year high of $79.66. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.28 and a current ratio of 1.69.

BHP Group Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, March 30th. Shareholders of record on Friday, March 10th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a dividend yield of 8.7%.

Analyst Ratings Changes

A number of research firms have commented on BHP. StockNews.com began coverage on shares of BHP Group in a report on Thursday. They issued a “buy” rating for the company. Bank of America raised BHP Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 23rd. UBS Group downgraded BHP Group from a “neutral” rating to a “sell” rating in a research note on Tuesday, December 13th. JPMorgan Chase & Co. boosted their target price on BHP Group from GBX 2,500 ($30.47) to GBX 2,510 ($30.59) in a report on Wednesday, February 22nd. Finally, CLSA downgraded BHP Group from an “outperform” rating to an “underperform” rating in a report on Tuesday, January 17th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2,211.50.

About BHP Group

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BHP Group Ltd. engages in the exploration, development, production and processing of iron ore, metallurgical coal and copper. It operates through the following segments: Petroleum, Copper, Iron Ore, and Coal. The Petroleum segment explores, develops and produces oil and gas. The Copper segment refers to the mining of copper, silver, lead, zinc, molybdenum, uranium and gold.