Harmony Gold Mining Company Limited (NYSE:HMY) Receives $16.00 Consensus Price Target from Brokerages

Harmony Gold Mining Company Limited (NYSE:HMY) has received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $16.00.

Several brokerages recently issued reports on HMY. Zacks Research downgraded Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. HSBC upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. Wall Street Zen cut shares of Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 20th. Investec upgraded shares of Harmony Gold Mining to a “hold” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Wednesday, October 8th.

Harmony Gold Mining Trading Down 0.7%

Shares of NYSE HMY opened at $19.90 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41. The firm’s 50-day moving average price is $18.59 and its two-hundred day moving average price is $16.68. Harmony Gold Mining has a 52-week low of $8.08 and a 52-week high of $22.25.

Institutional Trading of Harmony Gold Mining

Large investors have recently added to or reduced their stakes in the business. U S Global Investors Inc. raised its holdings in shares of Harmony Gold Mining by 105.3% in the 2nd quarter. U S Global Investors Inc. now owns 307,960 shares of the mining company’s stock worth $4,302,000 after purchasing an additional 157,960 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Harmony Gold Mining during the second quarter worth approximately $3,609,000. Acadian Asset Management LLC boosted its holdings in Harmony Gold Mining by 4,004.0% during the first quarter. Acadian Asset Management LLC now owns 2,460,852 shares of the mining company’s stock worth $36,333,000 after buying an additional 2,400,889 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Harmony Gold Mining by 15.5% in the second quarter. Envestnet Asset Management Inc. now owns 184,507 shares of the mining company’s stock worth $2,578,000 after buying an additional 24,779 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Harmony Gold Mining by 1,490.2% in the first quarter. Cubist Systematic Strategies LLC now owns 950,136 shares of the mining company’s stock valued at $14,034,000 after buying an additional 890,387 shares in the last quarter. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.