Harmony Gold Mining (NYSE:HMY) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Harmony Gold Mining (NYSE:HMY) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

A number of other research analysts have also weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. Zacks Research downgraded shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Harmony Gold Mining Trading Down 5.5%

NYSE HMY opened at $15.10 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.72. Harmony Gold Mining has a 1-year low of $11.98 and a 1-year high of $26.06. The business has a 50 day simple moving average of $21.13 and a two-hundred day simple moving average of $19.01.

Hedge Funds Weigh In On Harmony Gold Mining

A number of institutional investors and hedge funds have recently modified their holdings of HMY. Hsbc Holdings PLC bought a new position in shares of Harmony Gold Mining during the 4th quarter valued at approximately $1,815,000. Caitong International Asset Management Co. Ltd bought a new stake in Harmony Gold Mining in the fourth quarter worth $196,000. Dorsey Wright & Associates boosted its stake in Harmony Gold Mining by 4.4% during the fourth quarter. Dorsey Wright & Associates now owns 144,460 shares of the mining company’s stock worth $2,875,000 after buying an additional 6,086 shares during the period. Compound Planning Inc. boosted its stake in Harmony Gold Mining by 6.2% during the fourth quarter. Compound Planning Inc. now owns 28,314 shares of the mining company’s stock worth $563,000 after buying an additional 1,641 shares during the period. Finally, Vident Advisory LLC increased its position in Harmony Gold Mining by 34.1% during the fourth quarter. Vident Advisory LLC now owns 169,690 shares of the mining company’s stock valued at $3,377,000 after acquiring an additional 43,130 shares during the last quarter. Hedge funds and other institutional investors own 31.79% of the company’s stock.

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.