Harmony Gold Mining (HMY) Lifted to Hold at Zacks Investment Research

Harmony Gold Mining (NYSE:HMY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Harmony has a diverse portfolio of gold development projects spread across South Africa and PNG. The company is also making good progress in producing better quality gold ounces and reducing costs. However, 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 a number of other reports. Bank of America lowered Harmony Gold Mining from a “buy” rating to a “neutral” rating in a research report on Friday, October 20th. Deutsche Bank raised Harmony Gold Mining from a “sell” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, ValuEngine raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold”.

Shares of Harmony Gold Mining (NYSE HMY) traded up $0.02 on Wednesday, hitting $1.73. The company’s stock had a trading volume of 4,007,267 shares, compared to its average volume of 4,173,501. Harmony Gold Mining has a one year low of $1.56 and a one year high of $2.99. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 0.02.

Hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers acquired a new stake in shares of Harmony Gold Mining during the 2nd quarter valued at approximately $103,000. Atria Investments LLC increased its position in Harmony Gold Mining by 90.6% in the fourth quarter. Atria Investments LLC now owns 59,145 shares of the mining company’s stock worth $111,000 after buying an additional 28,118 shares during the period. BNP Paribas Arbitrage SA increased its position in Harmony Gold Mining by 84.9% in the third quarter. BNP Paribas Arbitrage SA now owns 61,810 shares of the mining company’s stock worth $113,000 after buying an additional 28,381 shares during the period. JPMorgan Chase & Co. acquired a new stake in Harmony Gold Mining in the second quarter worth $128,000. Finally, Virtu Financial LLC increased its position in Harmony Gold Mining by 226.6% in the third quarter. Virtu Financial LLC now owns 177,931 shares of the mining company’s stock worth $129,000 after buying an additional 123,454 shares during the period. 24.57% of the stock is currently owned by institutional investors and hedge funds.

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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.

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