Harmony Gold Mining (NYSE:HMY) Rating Lowered to “Hold” at Zacks Research

Harmony Gold Mining (NYSE:HMY) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

HMY has been the topic of a number of other reports. Investec raised Harmony Gold Mining to a “hold” rating in a research note on Friday, October 10th. Wall Street Zen upgraded shares of Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Hsbc Global Res upgraded shares of Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. HSBC raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Harmony Gold Mining in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Harmony Gold Mining Stock Up 2.2%

HMY stock opened at $20.66 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $18.31 and a 200-day moving average price of $16.26. Harmony Gold Mining has a 52-week low of $7.97 and a 52-week high of $22.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HMY. Russell Investments Group Ltd. grew its position in Harmony Gold Mining by 30.7% in the 1st quarter. Russell Investments Group Ltd. now owns 467,378 shares of the mining company’s stock worth $6,571,000 after purchasing an additional 109,873 shares during the period. Brooklyn Investment Group grew its holdings in shares of Harmony Gold Mining by 165,766.7% in the first quarter. Brooklyn Investment Group now owns 4,976 shares of the mining company’s stock worth $73,000 after acquiring an additional 4,973 shares during the period. Quantbot Technologies LP lifted its holdings in Harmony Gold Mining by 157.4% in the first quarter. Quantbot Technologies LP now owns 24,213 shares of the mining company’s stock valued at $358,000 after acquiring an additional 14,807 shares during the period. Compound Planning Inc. boosted its position in Harmony Gold Mining by 15.8% in the first quarter. Compound Planning Inc. now owns 24,642 shares of the mining company’s stock worth $364,000 after purchasing an additional 3,356 shares during the last quarter. Finally, Jump Financial LLC grew its stake in shares of Harmony Gold Mining by 2,655.3% during the 1st quarter. Jump Financial LLC now owns 585,608 shares of the mining company’s stock valued at $8,649,000 after purchasing an additional 564,354 shares during the period. Institutional investors 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.