Harmony Gold Mining (NYSE:HMY) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Harmony Gold Mining (NYSE:HMYFree Report) from a hold rating to a buy rating in a research note released on Friday morning.

Several other research firms have also weighed in on HMY. Morgan Stanley lowered Harmony Gold Mining from an equal weight rating to an underweight rating in a research note on Wednesday, October 18th. HSBC upgraded Harmony Gold Mining from a reduce rating to a hold rating in a research note on Tuesday, November 14th. Finally, JPMorgan Chase & Co. lowered Harmony Gold Mining from a neutral rating to an underweight rating in a research note on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $3.40.

Check Out Our Latest Analysis on Harmony Gold Mining

Harmony Gold Mining Price Performance

Shares of HMY opened at $5.87 on Friday. Harmony Gold Mining has a 12-month low of $2.92 and a 12-month high of $6.76. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.79 and a current ratio of 1.26. The stock’s 50-day moving average price is $6.00 and its 200 day moving average price is $5.02.

Institutional Investors Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cloverfields Capital Group LP acquired a new stake in shares of Harmony Gold Mining during the 4th quarter worth about $845,000. Qtron Investments LLC lifted its stake in shares of Harmony Gold Mining by 14.1% during the 4th quarter. Qtron Investments LLC now owns 211,742 shares of the mining company’s stock worth $1,302,000 after buying an additional 26,236 shares during the last quarter. US Bancorp DE lifted its stake in shares of Harmony Gold Mining by 37.8% during the 4th quarter. US Bancorp DE now owns 11,486 shares of the mining company’s stock worth $71,000 after buying an additional 3,153 shares during the last quarter. Trexquant Investment LP acquired a new stake in Harmony Gold Mining in the 4th quarter worth about $1,721,000. Finally, UBS Group AG raised its stake in Harmony Gold Mining by 83.1% in the 4th quarter. UBS Group AG now owns 149,681 shares of the mining company’s stock worth $921,000 after purchasing an additional 67,943 shares in the last quarter. 28.33% of the stock is currently owned by institutional investors and hedge funds.

About Harmony Gold Mining

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Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of gold. The company explores for uranium, silver, copper, and molybdenum deposits. It has eight underground operations in the Witwatersrand Basin; an open-pit mine on the Kraaipan Greenstone Belt; and various surface source operations in South Africa.

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