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

Harmony Gold Mining (NYSE:HMY) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a research report issued on Tuesday, Zacks reports.

A number of other brokerages also recently commented on HMY. Weiss Ratings restated a “buy (b-)” rating on shares of Harmony Gold Mining in a research note on Friday, July 17th. Wall Street Zen upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Harmony Gold Mining Stock Up 2.9%

Shares of Harmony Gold Mining stock opened at $20.82 on Tuesday. Harmony Gold Mining has a twelve month low of $13.03 and a twelve month high of $26.06. The company has a current ratio of 0.84, a quick ratio of 0.64 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $18.05 and its 200-day simple moving average is $17.32.

Hedge Funds Weigh In On Harmony Gold Mining

Large investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC lifted its stake in shares of Harmony Gold Mining by 26.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,212 shares of the mining company’s stock worth $307,000 after acquiring an additional 4,172 shares during the period. IFP Advisors Inc increased its stake in shares of Harmony Gold Mining by 100.2% during the second quarter. IFP Advisors Inc now owns 9,947 shares of the mining company’s stock valued at $151,000 after acquiring an additional 4,978 shares during the period. Nykredit A S bought a new stake in Harmony Gold Mining during the second quarter worth approximately $613,000. Corient Private Wealth LP lifted its position in Harmony Gold Mining by 24.7% in the second quarter. Corient Private Wealth LP now owns 23,684 shares of the mining company’s stock worth $360,000 after purchasing an additional 4,684 shares during the period. Finally, Oakmont Investment Advisors Inc. acquired a new stake in Harmony Gold Mining in the second quarter worth approximately $351,000. Institutional investors and hedge funds own 31.79% of the company’s stock.

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.