Brokerages Set Harmony Gold Mining Company Limited (NYSE:HMY) Price Target at $16.00

Harmony Gold Mining Company Limited (NYSE:HMY) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $16.00.

Several brokerages have recently commented on HMY. Weiss Ratings restated a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. Zacks Research cut Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, Wall Street Zen upgraded Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th.

Institutional Trading of Harmony Gold Mining

A number of institutional investors and hedge funds have recently bought and sold shares of HMY. Caitong International Asset Management Co. Ltd purchased a new stake in Harmony Gold Mining during the 4th quarter worth approximately $26,000. TD Private Client Wealth LLC acquired a new position in shares of Harmony Gold Mining in the fourth quarter worth $26,000. Advisory Services Network LLC acquired a new position in shares of Harmony Gold Mining in the third quarter worth $25,000. Assetmark Inc. increased its position in shares of Harmony Gold Mining by 907.5% during the third quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock worth $32,000 after acquiring an additional 1,579 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at $36,000. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Gold Mining Stock Up 0.6%

Shares of NYSE:HMY opened at $20.27 on Tuesday. The business has a 50-day moving average price of $21.34 and a 200 day moving average price of $18.50. Harmony Gold Mining has a 12-month low of $9.69 and a 12-month high of $26.06. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41.

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.