Assenagon Asset Management S.A. Reduces Stake in Harmony Gold Mining Company Limited $HMY

Assenagon Asset Management S.A. lessened its stake in shares of Harmony Gold Mining Company Limited (NYSE:HMY) by 82.9% during the 1st quarter, Holdings Channel reports. The fund owned 152,785 shares of the mining company’s stock after selling 743,293 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Harmony Gold Mining were worth $2,348,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of Harmony Gold Mining in the third quarter valued at about $25,000. TD Private Client Wealth LLC purchased a new position in Harmony Gold Mining during the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Harmony Gold Mining during the fourth quarter worth about $26,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Harmony Gold Mining in the 4th quarter valued at about $36,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Harmony Gold Mining in the 4th quarter valued at about $100,000. Institutional investors and hedge funds own 31.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HMY. Wall Street Zen lowered Harmony Gold Mining from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Morgan Stanley raised Harmony Gold Mining to an “overweight” rating in a research report on Thursday, April 16th. Finally, 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 research 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Harmony Gold Mining Price Performance

NYSE HMY opened at $15.18 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $16.64 and a two-hundred day moving average of $18.51. Harmony Gold Mining Company Limited has a 1-year low of $12.58 and a 1-year high of $26.06.

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.