Harmony Gold Mining (NYSE:HMY) Stock Rating Upgraded by Wall Street Zen

Harmony Gold Mining (NYSE:HMY) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

A number of other research firms have also weighed in on HMY. HSBC raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Thursday, October 9th. Hsbc Global Res raised shares of Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Harmony Gold Mining in a research report on Wednesday, October 8th. Zacks Research cut Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, Investec upgraded Harmony Gold Mining to a “hold” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Stock Down 0.7%

Harmony Gold Mining stock opened at $21.80 on Friday. Harmony Gold Mining has a one year low of $9.58 and a one year high of $22.98. The stock’s 50 day moving average price is $19.70 and its 200 day moving average price is $17.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of Harmony Gold Mining by 48.2% during the 3rd quarter. AQR Capital Management LLC now owns 5,871,169 shares of the mining company’s stock valued at $105,916,000 after acquiring an additional 1,910,028 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Harmony Gold Mining by 215.7% during the first quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock valued at $82,289,000 after purchasing an additional 3,806,468 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Harmony Gold Mining by 12,337.7% during the second quarter. Invesco Ltd. now owns 4,795,844 shares of the mining company’s stock worth $66,998,000 after purchasing an additional 4,757,285 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Harmony Gold Mining by 46.9% during the second quarter. Acadian Asset Management LLC now owns 3,613,767 shares of the mining company’s stock worth $50,460,000 after purchasing an additional 1,152,915 shares during the period. Finally, Amundi lifted its position in shares of Harmony Gold Mining by 21.5% in the 3rd quarter. Amundi now owns 2,879,407 shares of the mining company’s stock worth $53,355,000 after buying an additional 509,434 shares during the last quarter. Institutional investors and hedge funds own 31.79% of the company’s stock.

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.