CLSA lifts BHP Group Limited [BHP] price estimate. Who else is bullish?

BHP Group Limited [NYSE: BHP] closed the trading session at $48.57. The company report on August 30, 2022 that BHP, Caterpillar, and Finning announce an agreement to replace entire haul truck fleet at Escondida Mine in Chile.


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The stocks have a year to date performance of -9.75 percent and weekly performance of -1.16 percent. The stock has been moved at -29.18 percent over the last six months. The stock has performed -5.60 percent around the most recent 30 days and changed -4.31 percent over the most recent 3-months.

If compared to the average trading volume of 3.55M shares, BHP reached to a volume of 2634380 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about BHP Group Limited [BHP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BHP shares is $69.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BHP stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

CLSA have made an estimate for BHP Group Limited shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 09, 2022. The new note on the price target was released on July 14, 2022, representing the official price target for BHP Group Limited stock. On June 07, 2022, analysts increased their price target for BHP shares from 72 to 82.

The Average True Range (ATR) for BHP Group Limited is set at 1.60, with the Price to Sales ratio for BHP stock in the period of the last 12 months amounting to 1.93. The Price to Book ratio for the last quarter was 2.73, with the Price to Cash per share for the same quarter was set at 6.92. Price to Free Cash Flow for BHP in the course of the last twelve months was 8.91 with Quick ratio for the last quarter at 1.40.

BHP stock trade performance evaluation

BHP Group Limited [BHP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.16. With this latest performance, BHP shares dropped by -5.60% in over the last four-week period, additionally sinking by -29.18% over the last 6 months – not to mention a drop of -6.23% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BHP stock in for the last two-week period is set at 42.10, with the RSI for the last a single of trading hit 40.21, and the three-weeks RSI is set at 43.04 for BHP Group Limited [BHP]. The present Moving Average for the last 50 days of trading for this stock 52.63, while it was recorded at 49.24 for the last single week of trading, and 61.88 for the last 200 days.

BHP Group Limited [BHP]: An insightful look at the core fundamentals

BHP Group Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.70.

Earnings per share (EPS) analysis for BHP Group Limited [BHP] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BHP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for BHP Group Limited go to -7.60%.

BHP Group Limited [BHP]: Insider Ownership positions

There are presently around $4,901 million, or 3.80% of BHP stock, in the hands of institutional investors. The top three institutional holders of BHP stocks are: FISHER ASSET MANAGEMENT, LLC with ownership of 18,027,616, which is approximately 6.641% of the company’s market cap and around 5.40% of the total institutional ownership; HARDING LOEVNER LP, holding 15,089,711 shares of the stock with an approximate value of $732.91 million in BHP stocks shares; and MORGAN STANLEY, currently with $241.42 million in BHP stock with ownership of nearly 219.816% of the company’s market capitalization.

313 institutional holders increased their position in BHP Group Limited [NYSE:BHP] by around 11,311,266 shares. Additionally, 271 investors decreased positions by around 18,976,464 shares, while 103 investors held positions by with 70,611,014 shares. The mentioned changes placed institutional holdings at 100,898,744 shares, according to the latest SEC report filing. BHP stock had 70 new institutional investments in for a total of 963,934 shares, while 110 institutional investors sold positions of 1,885,850 shares during the same period.

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