Harmony Gold Mining (NYSE:HMY) Downgraded by StockNews.com to Buy

Harmony Gold Mining (NYSE:HMY) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

Harmony Gold Mining Stock Down 1.5 %

HMY traded down $0.13 on Friday, hitting $9.11. The company had a trading volume of 10,420,729 shares, compared to its average volume of 5,902,174. The stock has a fifty day moving average price of $7.09 and a 200-day moving average price of $5.98. Harmony Gold Mining has a 12-month low of $3.41 and a 12-month high of $9.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 1.11.

Institutional Investors Weigh In On Harmony Gold Mining

Several institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its holdings in Harmony Gold Mining by 7.8% in the fourth quarter. Van ECK Associates Corp now owns 57,717,855 shares of the mining company’s stock worth $354,965,000 after acquiring an additional 4,163,528 shares in the last quarter. Exor Capital LLP lifted its holdings in shares of Harmony Gold Mining by 11.5% during the fourth quarter. Exor Capital LLP now owns 29,744,388 shares of the mining company’s stock worth $119,549,000 after purchasing an additional 3,079,485 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Harmony Gold Mining by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,238,873 shares of the mining company’s stock worth $50,668,000 after purchasing an additional 42,126 shares during the period. BlackRock Inc. lifted its holdings in shares of Harmony Gold Mining by 3.5% during the first quarter. BlackRock Inc. now owns 6,799,743 shares of the mining company’s stock worth $27,879,000 after purchasing an additional 227,570 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Harmony Gold Mining by 542.6% during the second quarter. Renaissance Technologies LLC now owns 3,545,720 shares of the mining company’s stock worth $11,098,000 after purchasing an additional 2,993,900 shares during the period. Institutional investors and hedge funds own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of gold. The company explores for uranium, silver, copper, and molybdenum deposits. It has eight underground operations in the Witwatersrand Basin; an open-pit mine on the Kraaipan Greenstone Belt; and various surface source operations in South Africa.