Harmony Gold Mining (NYSE:HMY) Raised to Buy at Wall Street Zen

Harmony Gold Mining (NYSE:HMY) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

A number of other analysts also recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Harmony Gold Mining in a report on Friday, July 17th. Morgan Stanley upgraded shares of Harmony Gold Mining to an “overweight” rating in a report on Thursday, April 16th. Finally, Zacks Research raised shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Harmony Gold Mining Trading Up 1.2%

NYSE HMY opened at $19.94 on Friday. The stock’s 50 day moving average price is $16.01 and its two-hundred day moving average price is $17.48. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.38 and a current ratio of 0.54. Harmony Gold Mining has a 52 week low of $12.58 and a 52 week high of $26.06.

Hedge Funds Weigh In On Harmony Gold Mining

Several hedge funds and other institutional investors have recently made changes to their positions in HMY. Jones Financial Companies Lllp lifted its stake in Harmony Gold Mining by 210.4% in the first quarter. Jones Financial Companies Lllp now owns 18,165 shares of the mining company’s stock valued at $268,000 after acquiring an additional 12,312 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Harmony Gold Mining by 215.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock worth $82,289,000 after purchasing an additional 3,806,468 shares during the last quarter. New York State Common Retirement Fund bought a new stake in shares of Harmony Gold Mining in the 2nd quarter valued at about $171,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Harmony Gold Mining in the 2nd quarter valued at about $424,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Harmony Gold Mining by 13.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,516 shares of the mining company’s stock valued at $147,000 after purchasing an additional 1,280 shares during the last quarter. 31.79% of the stock is owned by institutional investors.

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.