HSBC Upgrades Harmony Gold Mining (HMY) to Buy

Harmony Gold Mining (NYSE:HMY) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, The Fly reports.

HMY has been the subject of a number of other reports. ValuEngine upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Harmony Gold Mining from a “sell” rating to a “hold” rating in a research note on Tuesday, December 19th. Deutsche Bank upgraded Harmony Gold Mining from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, Bank of America downgraded Harmony Gold Mining from a “buy” rating to a “neutral” rating in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold”.

Harmony Gold Mining (HMY) traded up $0.16 during trading hours on Wednesday, hitting $2.02. The company had a trading volume of 6,894,696 shares, compared to its average volume of 4,636,783. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 0.02. Harmony Gold Mining has a fifty-two week low of $1.56 and a fifty-two week high of $2.99.

A number of hedge funds have recently bought and sold shares of the business. AMP Capital Investors Ltd grew its stake in Harmony Gold Mining by 75.6% in the fourth quarter. AMP Capital Investors Ltd now owns 238,400 shares of the mining company’s stock valued at $446,000 after purchasing an additional 102,600 shares in the last quarter. Renaissance Technologies LLC grew its stake in Harmony Gold Mining by 55.0% in the fourth quarter. Renaissance Technologies LLC now owns 501,400 shares of the mining company’s stock valued at $938,000 after purchasing an additional 178,000 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Harmony Gold Mining by 404.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 951,319 shares of the mining company’s stock valued at $1,779,000 after purchasing an additional 762,619 shares in the last quarter. Virtu Financial LLC grew its stake in Harmony Gold Mining by 90.2% in the fourth quarter. Virtu Financial LLC now owns 338,470 shares of the mining company’s stock valued at $633,000 after purchasing an additional 160,539 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in Harmony Gold Mining by 12.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,115,912 shares of the mining company’s stock valued at $2,087,000 after purchasing an additional 126,434 shares in the last quarter. Hedge funds and other institutional investors own 24.21% of the company’s stock.

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Harmony Gold Mining Company Profile

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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