Harmony Gold Mining (NYSE:HMY) Cut to Hold at Wall Street Zen

Harmony Gold Mining (NYSE:HMY) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

HMY has been the topic of a number of other reports. Morgan Stanley raised shares of Harmony Gold Mining to an “overweight” rating in a research note on Thursday, April 16th. Zacks Research raised shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Harmony Gold Mining Price Performance

Harmony Gold Mining stock opened at $16.74 on Friday. The stock’s 50 day moving average price is $16.18 and its 200 day moving average price is $18.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.38 and a current ratio of 0.54. Harmony Gold Mining has a 1-year low of $12.58 and a 1-year high of $26.06.

Hedge Funds Weigh In On Harmony Gold Mining

Several hedge funds and other institutional investors have recently bought and sold shares of HMY. Advisory Services Network LLC acquired a new position in Harmony Gold Mining during the third quarter worth $25,000. TD Private Client Wealth LLC acquired a new position in Harmony Gold Mining during the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Harmony Gold Mining during the fourth quarter worth $26,000. Ascentis Independent Advisors acquired a new position in Harmony Gold Mining during the first quarter worth $28,000. Finally, Assetmark Inc. raised its holdings in Harmony Gold Mining by 907.5% during the third quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock worth $32,000 after purchasing an additional 1,579 shares during the last quarter. 31.79% of the stock is owned by institutional investors and hedge funds.

About Harmony Gold Mining

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.