Harmony Gold Mining (NYSE:HMY) Sets New 52-Week High – Still a Buy?

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $22.63 and last traded at $22.6860, with a volume of 1646125 shares changing hands. The stock had previously closed at $20.69.

Analysts Set New Price Targets

A number of analysts recently weighed in on HMY shares. Wall Street Zen lowered shares of Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a research report on Wednesday, October 8th. Investec upgraded shares of Harmony Gold Mining to a “hold” rating in a report on Friday, October 10th. Hsbc Global Res upgraded shares of Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Finally, HSBC upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.00.

Harmony Gold Mining Trading Up 9.5%

The stock’s 50-day moving average is $19.10 and its 200 day moving average is $17.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41.

Institutional Trading of Harmony Gold Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ariose Capital Management Ltd acquired a new stake in shares of Harmony Gold Mining in the 3rd quarter valued at about $1,182,000. U S Global Investors Inc. lifted its stake in Harmony Gold Mining by 105.3% in the second quarter. U S Global Investors Inc. now owns 307,960 shares of the mining company’s stock valued at $4,302,000 after buying an additional 157,960 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Harmony Gold Mining in the second quarter valued at approximately $3,609,000. Envestnet Asset Management Inc. boosted its holdings in shares of Harmony Gold Mining by 15.5% in the second quarter. Envestnet Asset Management Inc. now owns 184,507 shares of the mining company’s stock valued at $2,578,000 after acquiring an additional 24,779 shares during the period. Finally, Ashton Thomas Private Wealth LLC grew its position in shares of Harmony Gold Mining by 43.0% during the second quarter. Ashton Thomas Private Wealth LLC now owns 343,243 shares of the mining company’s stock worth $4,795,000 after acquiring an additional 103,150 shares during the last quarter. Institutional investors and hedge funds own 31.79% of the company’s stock.

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.