Granite Bay Wealth Management LLC Takes Position in BHP Group Limited (NYSE:BHP)

Granite Bay Wealth Management LLC acquired a new stake in shares of BHP Group Limited (NYSE:BHP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,300 shares of the mining company’s stock, valued at approximately $366,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Asset Dedication LLC boosted its holdings in shares of BHP Group by 7,516.7% during the second quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock valued at $26,000 after acquiring an additional 451 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in BHP Group during the 2nd quarter valued at about $27,000. Ashton Thomas Private Wealth LLC bought a new position in BHP Group in the 2nd quarter worth about $27,000. Rise Advisors LLC acquired a new stake in shares of BHP Group in the first quarter valued at approximately $29,000. Finally, WFA Asset Management Corp bought a new stake in shares of BHP Group during the first quarter valued at approximately $31,000. 3.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BHP shares. StockNews.com upgraded BHP Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Sanford C. Bernstein upgraded BHP Group from a “market perform” rating to an “outperform” rating in a research report on Monday, September 16th. Finally, Argus upgraded BHP Group to a “strong-buy” rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

BHP Group Price Performance

Shares of NYSE:BHP opened at $62.38 on Wednesday. BHP Group Limited has a 12 month low of $50.90 and a 12 month high of $69.11. The stock has a market cap of $158.00 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 3.52 and a beta of 0.96. The stock’s 50 day moving average price is $54.59 and its 200 day moving average price is $56.76. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.70 and a quick ratio of 1.29.

BHP Group Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be issued a dividend of $1.465 per share. This is a boost from BHP Group’s previous Semi-Annual dividend of $1.44. The ex-dividend date of this dividend is Friday, September 13th. This represents a yield of 5.2%. BHP Group’s payout ratio is presently 60.29%.

BHP Group Company 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, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.