Brokerages Set Harmony Gold Mining Company Limited (NYSE:HMY) Target Price at $16.00

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) have been given a consensus recommendation of “Moderate Buy” by the five research firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $16.00.

Several analysts recently commented on the company. Wall Street Zen upgraded Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th. Zacks Research lowered shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Thursday, January 22nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at approximately $26,000. TD Private Client Wealth LLC purchased a new stake in Harmony Gold Mining in the 4th quarter valued at $26,000. Advisory Services Network LLC acquired a new stake in shares of Harmony Gold Mining in the 3rd quarter worth $25,000. Assetmark Inc. raised its holdings in shares of Harmony Gold Mining by 907.5% during the 3rd quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock worth $32,000 after acquiring an additional 1,579 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Harmony Gold Mining during the 4th quarter valued at about $36,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

Harmony Gold Mining Price Performance

Shares of Harmony Gold Mining stock opened at $21.81 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Harmony Gold Mining has a twelve month low of $9.69 and a twelve month high of $26.06. The firm’s 50-day moving average price is $21.38 and its 200 day moving average price is $18.61.

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.