Harmony Gold Mining Company Limited (NYSE:HMY) Sees Large Drop in Short Interest

Harmony Gold Mining Company Limited (NYSE:HMY) saw a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 4,997,514 shares, a decrease of 19.4% from the February 12th total of 6,199,163 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,657,984 shares, the short-interest ratio is presently 1.1 days. Based on an average daily trading volume, of 4,657,984 shares, the short-interest ratio is presently 1.1 days. Currently, 0.9% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HMY. Hsbc Holdings PLC purchased a new stake in shares of Harmony Gold Mining during the fourth quarter worth $1,815,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Harmony Gold Mining in the fourth quarter worth about $196,000. Dorsey Wright & Associates boosted its position 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 acquiring an additional 6,086 shares during the last quarter. Compound Planning Inc. grew its stake in Harmony Gold Mining by 6.2% during the 4th quarter. Compound Planning Inc. now owns 28,314 shares of the mining company’s stock valued at $563,000 after acquiring an additional 1,641 shares in the last quarter. Finally, Vident Advisory LLC grew its stake in Harmony Gold Mining by 34.1% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 31.79% of the company’s stock.

Harmony Gold Mining Price Performance

NYSE:HMY traded up $0.55 during trading hours on Tuesday, hitting $15.85. 7,119,184 shares of the stock were exchanged, compared to its average volume of 4,800,494. The firm’s fifty day moving average price is $20.92 and its 200 day moving average price is $19.08. Harmony Gold Mining has a 52-week low of $12.38 and a 52-week high of $26.06. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.54 and a quick ratio of 0.38.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HMY shares. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. Zacks Research lowered Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, Wall Street Zen cut Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Harmony Gold Mining currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

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.