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

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

A number of analysts recently commented on HMY shares. Investec upgraded Harmony Gold Mining to a “hold” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Thursday. HSBC raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a research report on Thursday, October 9th. Zacks Research downgraded shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, Hsbc Global Res raised shares of Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th.

Harmony Gold Mining Stock Performance

Harmony Gold Mining stock opened at $23.48 on Friday. Harmony Gold Mining has a fifty-two week low of $9.69 and a fifty-two week high of $23.80. The stock has a fifty day moving average of $20.19 and a two-hundred day moving average of $17.58. 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 Trading of Harmony Gold Mining

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in shares of Harmony Gold Mining by 12,337.7% during the 2nd quarter. Invesco Ltd. now owns 4,795,844 shares of the mining company’s stock valued at $66,998,000 after acquiring an additional 4,757,285 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Harmony Gold Mining by 215.7% in 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 period. AQR Capital Management LLC increased its position in Harmony Gold Mining by 286.6% during the second quarter. AQR Capital Management LLC now owns 3,961,141 shares of the mining company’s stock worth $54,248,000 after purchasing an additional 2,936,552 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Harmony Gold Mining by 7,504.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,306,431 shares of the mining company’s stock worth $41,862,000 after purchasing an additional 2,276,099 shares during the period. Finally, Man Group plc boosted its holdings in shares of Harmony Gold Mining by 1,801.7% in the 2nd quarter. Man Group plc now owns 1,985,093 shares of the mining company’s stock valued at $27,732,000 after purchasing an additional 1,880,708 shares during the last quarter. 31.79% of the stock is 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.