ABC Arbitrage SA Sells 1,747,329 Shares of Harmony Gold Mining Company Limited $HMY

ABC Arbitrage SA trimmed its stake in shares of Harmony Gold Mining Company Limited (NYSE:HMY) by 70.2% in the first quarter, Holdings Channel.com reports. The firm owned 741,545 shares of the mining company’s stock after selling 1,747,329 shares during the quarter. Harmony Gold Mining comprises approximately 1.5% of ABC Arbitrage SA’s investment portfolio, making the stock its 15th biggest position. ABC Arbitrage SA’s holdings in Harmony Gold Mining were worth $11,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new position in Harmony Gold Mining in the 3rd quarter worth about $25,000. TD Private Client Wealth LLC acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at about $26,000. Ascentis Independent Advisors bought a new position in shares of Harmony Gold Mining during the first quarter worth about $28,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Harmony Gold Mining during the first quarter worth about $33,000. Institutional investors own 31.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley raised 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 report on Monday, May 11th. Finally, Wall Street Zen downgraded Harmony Gold Mining from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Harmony Gold Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Stock Performance

HMY stock opened at $14.97 on Tuesday. The company’s 50-day moving average is $16.43 and its 200-day moving average is $18.17. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.54 and a quick ratio of 0.38. Harmony Gold Mining Company Limited has a 1 year low of $12.58 and a 1 year high of $26.06.

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.