Harmony Gold Mining (NYSE:HMY) Price Target Raised to $4.90

Harmony Gold Mining (NYSE:HMY) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $3.20 to $4.90 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 46.06% from the stock’s previous close.

Separately, StockNews.com cut Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 12th.

Harmony Gold Mining Trading Up 2.4 %

NYSE:HMY opened at $9.09 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. Harmony Gold Mining has a fifty-two week low of $3.41 and a fifty-two week high of $9.80. The company has a 50 day moving average price of $7.26 and a 200 day moving average price of $6.10.

Hedge Funds Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at $1,723,000. Citigroup Inc. raised its position in Harmony Gold Mining by 59.4% in the 3rd quarter. Citigroup Inc. now owns 19,755 shares of the mining company’s stock valued at $74,000 after purchasing an additional 7,361 shares in the last quarter. Rathbones Group PLC boosted its stake in shares of Harmony Gold Mining by 977.4% in the 3rd quarter. Rathbones Group PLC now owns 126,060 shares of the mining company’s stock valued at $475,000 after buying an additional 114,360 shares during the period. Fifth Third Bancorp acquired a new position in shares of Harmony Gold Mining during the fourth quarter worth about $34,000. Finally, American Century Companies Inc. increased its stake in shares of Harmony Gold Mining by 26.2% during the third quarter. American Century Companies Inc. now owns 2,750,629 shares of the mining company’s stock worth $10,342,000 after buying an additional 571,247 shares during the period. Hedge funds and other institutional investors own 31.79% of the company’s stock.

About Harmony Gold Mining

Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of gold. The company explores for uranium, silver, copper, and molybdenum deposits. It has eight underground operations in the Witwatersrand Basin; an open-pit mine on the Kraaipan Greenstone Belt; and various surface source operations in South Africa.