Traders Purchase High Volume of BHP Group Put Options (NYSE:BHP)

BHP Group Limited Sponsored ADR (NYSE:BHP) was the recipient of some unusual options trading on Tuesday. Stock traders purchased 5,228 put options on the stock. This is an increase of approximately 110% compared to the typical daily volume of 2,486 put options.

Institutional Trading of BHP Group

Several hedge funds and other institutional investors have recently bought and sold shares of BHP. Kathmere Capital Management LLC raised its position in shares of BHP Group by 32.6% in the second quarter. Kathmere Capital Management LLC now owns 7,581 shares of the mining company’s stock valued at $365,000 after buying an additional 1,863 shares in the last quarter. Ballentine Partners LLC increased its position in shares of BHP Group by 28.3% in the second quarter. Ballentine Partners LLC now owns 13,337 shares of the mining company’s stock worth $641,000 after purchasing an additional 2,938 shares during the period. Eaton Financial Holdings Company LLC acquired a new position in BHP Group in the second quarter valued at about $256,000. GAMMA Investing LLC raised its stake in BHP Group by 14.3% in the second quarter. GAMMA Investing LLC now owns 3,315 shares of the mining company’s stock valued at $159,000 after purchasing an additional 416 shares in the last quarter. Finally, Ridgewood Investments LLC lifted its position in BHP Group by 93.7% during the second quarter. Ridgewood Investments LLC now owns 17,062 shares of the mining company’s stock worth $821,000 after purchasing an additional 8,252 shares during the period. Institutional investors and hedge funds own 3.79% of the company’s stock.

BHP Group Stock Up 1.6%

BHP opened at $51.15 on Thursday. The stock has a fifty day moving average of $49.41 and a 200-day moving average of $48.96. The company has a market capitalization of $129.71 billion, a P/E ratio of 11.63 and a beta of 0.80. BHP Group has a fifty-two week low of $39.73 and a fifty-two week high of $63.21. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.25 and a current ratio of 1.70.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Sanford C. Bernstein cut BHP Group from an “outperform” rating to a “market perform” rating in a research report on Monday, May 19th. Argus downgraded shares of BHP Group from a “buy” rating to a “hold” rating in a report on Friday, June 13th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, BHP Group has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

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.