Harmony Gold Mining (NYSE:HMY) Raised to Hold at Zacks Research

Harmony Gold Mining (NYSE:HMY) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

HMY has been the subject of several other reports. Morgan Stanley raised Harmony Gold Mining to an “overweight” rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Thursday, January 22nd. Finally, Wall Street Zen lowered Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Stock Down 1.1%

NYSE:HMY opened at $17.93 on Monday. Harmony Gold Mining has a 1 year low of $12.58 and a 1 year high of $26.06. The business has a 50 day simple moving average of $16.63 and a 200-day simple moving average of $18.79. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisory Services Network LLC purchased a new stake in shares of Harmony Gold Mining in the third quarter worth approximately $25,000. TD Private Client Wealth LLC purchased a new stake in shares of Harmony Gold Mining in the fourth quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Harmony Gold Mining in the fourth quarter worth approximately $26,000. Ascentis Independent Advisors purchased a new stake in shares of Harmony Gold Mining in the first quarter worth approximately $28,000. Finally, Assetmark Inc. raised its holdings in shares of Harmony Gold Mining by 907.5% in the third quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock worth $32,000 after buying an additional 1,579 shares during the period. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

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.