Zacks Investment Research lowered shares of Harmony Gold Mining (NYSE:HMY) from a hold rating to a sell rating in a report issued on Monday morning.
According to Zacks, “Harmony has underperformed the industry it belongs to over a year. The company remains exposed to issues such as mine shut downs and labor strikes. Also, the company’s high cost structure is another concern.”
A number of other brokerages have also issued reports on HMY. ValuEngine raised Harmony Gold Mining from a hold rating to a buy rating in a research report on Friday, December 1st. Deutsche Bank lowered Harmony Gold Mining from a hold rating to a sell rating in a research report on Friday, October 13th. Finally, Bank of America lowered Harmony Gold Mining from a buy rating to a neutral rating in a research report on Friday, October 20th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Harmony Gold Mining has a consensus rating of Hold.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers acquired a new position in shares of Harmony Gold Mining in the second quarter worth $103,000. Atria Investments LLC grew its stake in shares of Harmony Gold Mining by 90.6% in the fourth quarter. Atria Investments LLC now owns 59,145 shares of the mining company’s stock worth $111,000 after acquiring an additional 28,118 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Harmony Gold Mining by 84.9% in the third quarter. BNP Paribas Arbitrage SA now owns 61,810 shares of the mining company’s stock worth $113,000 after acquiring an additional 28,381 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Harmony Gold Mining in the second quarter worth $128,000. Finally, Virtu Financial LLC grew its stake in shares of Harmony Gold Mining by 226.6% in the third quarter. Virtu Financial LLC now owns 177,931 shares of the mining company’s stock worth $129,000 after acquiring an additional 123,454 shares in the last quarter. 24.99% of the stock is currently owned by institutional investors.
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Harmony Gold Mining Company Profile
Harmony Gold Mining Company Limited, through its subsidiaries, is engaged in gold mining and related activities, including exploration, extraction and processing. The Company’s segments include South Africa Underground, Surface, and International. The South Africa Underground segment includes Kusasalethu, Doornkop, Phakisa, Tshepong, Masimong, Target 1, Bambanani, Joel, Unisel and Target 3.
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