Harmony Gold Mining (NYSE:HMY) Hits New 12-Month High – Time to Buy?

Harmony Gold Mining Company Limited (NYSE:HMY) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $23.20 and last traded at $22.8570, with a volume of 903220 shares traded. The stock had previously closed at $21.80.

Analysts Set New Price Targets

A number of research firms have issued reports on HMY. Investec upgraded shares of Harmony Gold Mining to a “hold” rating in a report on Friday, October 10th. HSBC raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. Zacks Research lowered Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Harmony Gold Mining Trading Up 2.2%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.72. The company’s 50 day moving average is $19.96 and its 200 day moving average is $17.43.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. increased its holdings in shares of Harmony Gold Mining by 23.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 91,000 shares of the mining company’s stock valued at $1,825,000 after acquiring an additional 17,000 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Harmony Gold Mining in the fourth quarter valued at about $158,000. Burns Matteson Capital Management LLC boosted its stake in shares of Harmony Gold Mining by 9.1% during the fourth quarter. Burns Matteson Capital Management LLC now owns 25,019 shares of the mining company’s stock worth $498,000 after buying an additional 2,083 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Harmony Gold Mining during the fourth quarter worth about $17,832,000. Finally, GAMMA Investing LLC increased its position in Harmony Gold Mining by 11.8% in the 4th quarter. GAMMA Investing LLC now owns 11,221 shares of the mining company’s stock valued at $223,000 after acquiring an additional 1,182 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 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.