Zacks Research Upgrades Harmony Gold Mining (NYSE:HMY) to Hold

Harmony Gold Mining (NYSE:HMY) was upgraded by equities researchers at Zacks Research to a “hold” rating in a report released on Tuesday, Zacks reports.

A number of other brokerages have also weighed in on HMY. Wall Street Zen raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Sunday. Weiss Ratings reissued a “buy (b-)” rating on shares of Harmony Gold Mining in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Harmony Gold Mining has an average rating of “Moderate Buy”.

Harmony Gold Mining Stock Up 2.9%

Shares of HMY opened at $20.82 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.64. The company’s fifty day moving average price is $18.05 and its 200-day moving average price is $17.32. Harmony Gold Mining has a 1-year low of $13.03 and a 1-year high of $26.06.

Institutional Investors Weigh In On Harmony Gold Mining

Hedge funds have recently bought and sold shares of the stock. FIL Ltd acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at about $111,182,000. Goldman Sachs Group Inc. raised its position in shares of Harmony Gold Mining by 215.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock worth $82,289,000 after purchasing an additional 3,806,468 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Harmony Gold Mining by 286.6% during the 2nd 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 lifted its stake in Harmony Gold Mining by 7,504.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,306,431 shares of the mining company’s stock valued at $41,862,000 after buying an additional 2,276,099 shares in the last quarter. Finally, Man Group plc lifted its stake in 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 buying an additional 1,880,708 shares in the last quarter. Hedge funds and other institutional investors own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

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.