StockNews.com Downgrades Harmony Gold Mining (NYSE:HMY) to Hold

Harmony Gold Mining (NYSE:HMY) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Bank of America initiated coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They issued a “neutral” rating for the company.

Harmony Gold Mining Price Performance

Shares of NYSE HMY opened at $9.07 on Thursday. Harmony Gold Mining has a 52-week low of $5.40 and a 52-week high of $12.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07. The business has a fifty day moving average of $10.26 and a two-hundred day moving average of $9.72.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in Harmony Gold Mining by 3.3% in the 3rd quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock valued at $700,663,000 after acquiring an additional 2,206,537 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Harmony Gold Mining by 76.8% during the third quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock valued at $27,219,000 after purchasing an additional 1,162,292 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Harmony Gold Mining by 111.5% in the second quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock valued at $16,978,000 after purchasing an additional 977,142 shares in the last quarter. AQR Capital Management LLC raised its position in Harmony Gold Mining by 63.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock worth $14,374,000 after purchasing an additional 609,971 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in Harmony Gold Mining during the 1st quarter worth $2,097,000. Institutional investors and hedge funds own 31.79% of the company’s stock.

About Harmony Gold Mining

Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of gold. The company explores for uranium, silver, copper, and molybdenum deposits. It has eight underground operations in the Witwatersrand Basin; an open-pit mine on the Kraaipan Greenstone Belt; and various surface source operations in South Africa.