Harmony Gold Mining (NYSE:HMY) Reaches New 1-Year High – Here’s What Happened

Harmony Gold Mining Company Limited (NYSE:HMY) shares reached a new 52-week high on Monday . The stock traded as high as $24.55 and last traded at $24.6470, with a volume of 1083034 shares changing hands. The stock had previously closed at $23.45.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HMY shares. HSBC upgraded shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. Zacks Research downgraded Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a research report on Thursday, January 22nd. Hsbc Global Res raised shares of Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Finally, Investec raised shares of Harmony Gold Mining to a “hold” rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Harmony Gold Mining Trading Up 7.8%

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41. The company has a 50-day moving average price of $20.48 and a 200 day moving average price of $17.71.

Institutional Trading of Harmony Gold Mining

Institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in shares of Harmony Gold Mining during the third quarter valued at approximately $25,000. Colonial Trust Advisors purchased a new position in Harmony Gold Mining in the second quarter valued at about $26,000. Assetmark Inc. increased its position in shares of Harmony Gold Mining by 907.5% during the third quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock worth $32,000 after purchasing an additional 1,579 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Harmony Gold Mining by 181.8% during the third quarter. Farther Finance Advisors LLC now owns 2,773 shares of the mining company’s stock worth $50,000 after acquiring an additional 1,789 shares during the last quarter. Finally, First Horizon Advisors Inc. purchased a new position in shares of Harmony Gold Mining in the second quarter worth $55,000. 31.79% of the stock is currently owned by institutional investors.

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.