Harmony Gold Mining Company Limited (NYSE:HMY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Harmony Gold Mining Company Limited (NYSE:HMY) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company.

A number of research analysts have commented on the company. Wall Street Zen raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research upgraded Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Morgan Stanley raised Harmony Gold Mining to an “overweight” rating in a research note on Thursday, April 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HMY. Hsbc Holdings PLC bought a new stake in Harmony Gold Mining during the 4th quarter valued at approximately $1,815,000. Assenagon Asset Management S.A. purchased a new position in shares of Harmony Gold Mining during the 4th quarter worth approximately $17,832,000. U S Global Investors Inc. raised its position in shares of Harmony Gold Mining by 49.4% in the 1st quarter. U S Global Investors Inc. now owns 397,947 shares of the mining company’s stock worth $6,116,000 after acquiring an additional 131,538 shares in the last quarter. Ninety One UK Ltd bought a new position in shares of Harmony Gold Mining in the 4th quarter worth approximately $6,939,000. Finally, Eschler Asset Management LLP lifted its stake in shares of Harmony Gold Mining by 507.6% in the 4th quarter. Eschler Asset Management LLP now owns 70,596 shares of the mining company’s stock valued at $1,405,000 after purchasing an additional 58,978 shares during the period. 31.79% of the stock is owned by hedge funds and other institutional investors.

Harmony Gold Mining Stock Down 0.0%

Harmony Gold Mining stock opened at $14.65 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $16.26 and a 200-day moving average of $18.00. Harmony Gold Mining has a 1-year low of $12.58 and a 1-year high of $26.06.

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.