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Why BHP Group Limited (BHP) Stock Could See Much Higher Prices Ahead

BHP Group Limited (NYSE: BHP) is 9.16% higher on its value in year-to-date trading and has touched a low of $46.92 and a high of $71.04 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BHP stock was last observed hovering at around $57.24 in the last trading session, with the day’s gains setting it 1.51% off its average median price target of $55.67 for the next 12 months. It is also 15.08% off the consensus price target high of $69.18 offered by 29 analysts, but current levels are -29.98% lower than the price target low of $45.20 for the same period.

Currently trading at $58.75, the stock is 10.11% and 13.93% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.48 million and changing 2.64% at the moment leaves the stock 2.29% off its SMA200. BHP registered 21.95% gain for a year compared to 6-month loss of -4.54%.

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The stock witnessed a 19.87% gain in the last 1 month and extending the period to 3 months gives it a 1.03%, and is -1.57% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.21% over the week and 2.52% over the month.

BHP Group Limited (BHP) has around 37908 employees, a market worth around $149.57B and $65.10B in sales. Current P/E ratio is 7.36. Profit margin for the company is 47.50%. Distance from 52-week low is 25.21% and -17.30% from its 52-week high. The company has generated returns on investments over the last 12 months (38.10%).

BHP Group Limited (BHP) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for BHP Group Limited (BHP) is a “Hold”. 29 analysts offering their recommendations for the stock have an average rating of 1.80, where 14 rate it as a Hold and 2 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

BHP Group Limited is expected to release its quarterly report on 02/20/2023.The EPS is expected to grow by 75.50% this year.

BHP Group Limited (BHP) Top Institutional Holders

The shares outstanding are 2.53B, and float is at 2.46B with Short Float at 0.32%.

BHP Group Limited (BHP): Who are the competitors?

The company’s main competitors (and peers) include Rio Tinto Group (RIO) that is trading 5.99% up over the past 12 months.

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