Harmony Gold Mining Co. (NYSE:HMY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Estimates for Harmony Gold have been stable lately. Harmony has a diverse portfolio of gold development projects spread across South Africa and PNG. The company is making a good progress with its Wafi-Golpu project. The company is also progressing well with its cost reduction program. Moreover, it remains focused on improving gold grades. However, Harmony is exposed to geopolitical risks associated with potential mine shut downs and labor strikes. Its operations are also likely to be impacted by a slower-than-expected ramp-up in production at mines and gold price volatility.”

Other equities analysts also recently issued reports about the stock. Morgan Stanley raised shares of Harmony Gold Mining from an “underweight” rating to an “equal weight” rating in a research note on Friday, November 11th. HSBC downgraded shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a research note on Friday, November 11th. Finally, Citigroup Inc. downgraded shares of Harmony Gold Mining from a “neutral” rating to a “sell” rating in a research note on Friday, November 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $5.00.

Analyst Recommendations for Harmony Gold Mining (NYSE:HMY)

Shares of Harmony Gold Mining (NYSE:HMY) opened at 2.19 on Tuesday. The stock has a 50 day moving average of $2.97 and a 200 day moving average of $3.60. The stock has a market cap of $956.54 million, a PE ratio of 14.70 and a beta of -1.60. Harmony Gold Mining has a 12 month low of $0.56 and a 12 month high of $4.87.

Large investors have recently made changes to their positions in the stock. World Asset Management Inc boosted its stake in shares of Harmony Gold Mining by 7.9% in the third quarter. World Asset Management Inc now owns 29,334 shares of the mining company’s stock worth $102,000 after buying an additional 2,142 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Harmony Gold Mining during the first quarter worth $103,000. Societe Generale bought a new stake in shares of Harmony Gold Mining during the second quarter worth $121,000. Barclays PLC boosted its stake in shares of Harmony Gold Mining by 1,457.1% in the second quarter. Barclays PLC now owns 40,485 shares of the mining company’s stock worth $146,000 after buying an additional 37,885 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Harmony Gold Mining during the second quarter worth $167,000. Institutional investors and hedge funds own 26.52% of the company’s stock.

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Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited is a gold-mining and exploration company. The Company has operations in South Africa and Papua New Guinea. In South Africa, the Company’s operations are focused on the Witwatersrand Basin and the Kraaipan Greenstone Belt. The Company operates nine underground mines, one open-pit mine and several surface operations.

5 Day Chart for NYSE:HMY

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