Harmony Gold Mining Company Limited (NYSE:HMY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Harmony Gold Mining Company Limited (NYSE:HMY) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $16.00.

HMY has been the subject of a number of research reports. 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. HSBC raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. Investec raised Harmony Gold Mining to a “hold” rating in a report on Friday, October 10th. Finally, Wall Street Zen upgraded Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HMY. AQR Capital Management LLC boosted its stake in shares of Harmony Gold Mining by 48.2% during the 3rd quarter. AQR Capital Management LLC now owns 5,871,169 shares of the mining company’s stock worth $105,916,000 after acquiring an additional 1,910,028 shares in the last quarter. Goldman Sachs Group Inc. boosted its position 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. Invesco Ltd. grew its holdings in 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 purchasing an additional 4,757,285 shares during the period. Acadian Asset Management LLC increased its position in shares of Harmony Gold Mining by 46.9% in the second quarter. Acadian Asset Management LLC now owns 3,613,767 shares of the mining company’s stock valued at $50,460,000 after buying an additional 1,152,915 shares in the last quarter. Finally, Amundi raised its stake in shares of Harmony Gold Mining by 21.5% during the 3rd quarter. Amundi now owns 2,879,407 shares of the mining company’s stock worth $53,355,000 after buying an additional 509,434 shares during the period. Hedge funds and other institutional investors own 31.79% of the company’s stock.

Harmony Gold Mining Stock Up 2.5%

Shares of NYSE HMY opened at $24.16 on Friday. The company has a 50 day simple moving average of $20.48 and a two-hundred day simple moving average of $17.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.72. Harmony Gold Mining has a 12 month low of $9.69 and a 12 month high of $24.77.

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.