Harmony Gold Mining (NYSE:HMY) Raised to Strong-Buy at Wall Street Zen

Harmony Gold Mining (NYSE:HMY) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

A number of other research analysts also recently commented on the company. Investec upgraded Harmony Gold Mining to a “hold” rating in a research note on Friday, October 10th. HSBC raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Thursday, October 9th. Zacks Research cut shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Wednesday, October 8th. Finally, Hsbc Global Res upgraded shares of Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Harmony Gold Mining has an average rating of “Moderate Buy” and an average target price of $16.00.

Harmony Gold Mining Stock Down 0.7%

Shares of Harmony Gold Mining stock opened at $21.80 on Friday. Harmony Gold Mining has a twelve month low of $9.58 and a twelve month high of $22.98. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The business’s 50 day simple moving average is $19.70 and its 200-day simple moving average is $17.24.

Institutional Trading of Harmony Gold Mining

A number of institutional investors have recently made changes to their positions in HMY. Invesco Ltd. boosted its holdings in shares of Harmony Gold Mining by 12,337.7% in the second quarter. Invesco Ltd. now owns 4,795,844 shares of the mining company’s stock valued at $66,998,000 after acquiring an additional 4,757,285 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Harmony Gold Mining by 215.7% during the first quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock worth $82,289,000 after purchasing an additional 3,806,468 shares in the last quarter. AQR Capital Management LLC lifted its position in Harmony Gold Mining by 286.6% in the second quarter. AQR Capital Management LLC now owns 3,961,141 shares of the mining company’s stock worth $54,248,000 after purchasing an additional 2,936,552 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Harmony Gold Mining by 7,504.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,306,431 shares of the mining company’s stock valued at $41,862,000 after purchasing an additional 2,276,099 shares in the last quarter. Finally, Man Group plc boosted its stake in Harmony Gold Mining by 1,801.7% during the 2nd quarter. Man Group plc now owns 1,985,093 shares of the mining company’s stock valued at $27,732,000 after purchasing an additional 1,880,708 shares in the last quarter. 31.79% of the stock is owned by institutional investors and hedge funds.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.

In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.