Harmony Gold Mining (NYSE:HMY) Raised to “Buy” at Wall Street Zen

Harmony Gold Mining (NYSE:HMY) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

HMY has been the subject of several 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 research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Stock Performance

Shares of NYSE HMY opened at $18.28 on Friday. Harmony Gold Mining has a 52-week low of $12.58 and a 52-week high of $26.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.38 and a current ratio of 0.54. The firm has a 50 day moving average price of $16.42 and a 200 day moving average price of $18.84.

Hedge Funds Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd bought a new position in Harmony Gold Mining during the fourth quarter worth $26,000. TD Private Client Wealth LLC bought a new position in Harmony Gold Mining during the fourth quarter worth $26,000. Advisory Services Network LLC bought a new position in Harmony Gold Mining during the third quarter worth $25,000. Assetmark Inc. boosted its position 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 period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Harmony Gold Mining during the fourth quarter worth $36,000. 31.79% of the stock is owned by institutional investors.

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.