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

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

A number of other equities analysts have also recently commented on HMY. Morgan Stanley raised shares of Harmony Gold Mining to an “overweight” rating in a research note on Thursday, April 16th. Zacks Research upgraded shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Harmony Gold Mining Stock Performance

HMY opened at $16.96 on Friday. The firm has a 50-day simple moving average of $16.90 and a two-hundred day simple moving average of $18.71. 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 current ratio of 0.54 and a quick ratio of 0.38.

Institutional Investors Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in Harmony Gold Mining during the 4th quarter valued at about $17,832,000. Aquatic Capital Management LLC lifted its stake in Harmony Gold Mining by 78.7% in the third quarter. Aquatic Capital Management LLC now owns 332,461 shares of the mining company’s stock worth $6,034,000 after purchasing an additional 146,459 shares during the last quarter. Ninety One UK Ltd bought a new stake in Harmony Gold Mining in the fourth quarter worth about $6,939,000. ABC Arbitrage SA lifted its stake in Harmony Gold Mining by 143.6% in the fourth quarter. ABC Arbitrage SA now owns 2,488,874 shares of the mining company’s stock worth $49,529,000 after purchasing an additional 1,467,370 shares during the last quarter. Finally, Advisors Preferred LLC purchased a new position in shares of Harmony Gold Mining during the third quarter valued at approximately $452,000. Hedge funds and other institutional investors own 31.79% of the company’s stock.

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.