Harmony Gold Mining (NYSE:HMY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Harmony has underperformed the industry it belongs to over a year. The company remains exposed to issues such as mine shut downs and labor strikes. Also, the company’s high cost structure is another concern.”
HMY has been the topic of several other reports. Bank of America lowered shares of Harmony Gold Mining from a “buy” rating to a “neutral” rating in a report on Friday, October 20th. Deutsche Bank upgraded shares of Harmony Gold Mining from a “sell” rating to a “hold” rating in a report on Thursday, November 30th. Finally, ValuEngine upgraded shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold”.
Institutional investors and hedge funds have recently modified their holdings of the stock. Atria Investments LLC raised its holdings in Harmony Gold Mining by 90.6% in the 4th quarter. Atria Investments LLC now owns 59,145 shares of the mining company’s stock valued at $111,000 after buying an additional 28,118 shares during the period. BNP Paribas Arbitrage SA increased its stake in Harmony Gold Mining by 84.9% during the third quarter. BNP Paribas Arbitrage SA now owns 61,810 shares of the mining company’s stock worth $113,000 after purchasing an additional 28,381 shares during the period. Cetera Investment Advisers purchased a new stake in Harmony Gold Mining during the second quarter worth about $103,000. JPMorgan Chase & Co. purchased a new stake in Harmony Gold Mining during the second quarter worth about $128,000. Finally, SignalPoint Asset Management LLC purchased a new stake in Harmony Gold Mining during the third quarter worth about $151,000. Hedge funds and other institutional investors own 24.99% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Downgrades Harmony Gold Mining (HMY) to Sell” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/22/zacks-investment-research-downgrades-harmony-gold-mining-hmy-to-sell.html.
About Harmony Gold Mining
Harmony Gold Mining Company Limited, through its subsidiaries, is engaged in gold mining and related activities, including exploration, extraction and processing. The Company’s segments include South Africa Underground, Surface, and International. The South Africa Underground segment includes Kusasalethu, Doornkop, Phakisa, Tshepong, Masimong, Target 1, Bambanani, Joel, Unisel and Target 3.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Harmony Gold Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmony Gold Mining and related companies with MarketBeat.com's FREE daily email newsletter.