Zacks Research Downgrades Harmony Gold Mining (NYSE:HMY) to Strong Sell

Harmony Gold Mining (NYSE:HMY) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Separately, BMO Capital Markets started coverage on Harmony Gold Mining in a research report on Thursday, July 17th. They set a “market perform” rating and a $16.00 price objective for the company. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $12.20.

Harmony Gold Mining Stock Up 2.6%

Shares of NYSE HMY opened at $18.07 on Monday. The business has a 50-day moving average price of $14.95 and a 200 day moving average price of $14.72. The stock has a market cap of $11.47 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 0.15 and a beta of 0.80. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Harmony Gold Mining has a 52-week low of $7.97 and a 52-week high of $18.77.

Institutional Trading of Harmony Gold Mining

Several institutional investors and hedge funds have recently made changes to their positions in HMY. Jump Financial LLC grew its stake in Harmony Gold Mining by 2,655.3% in the 1st quarter. Jump Financial LLC now owns 585,608 shares of the mining company’s stock worth $8,649,000 after acquiring an additional 564,354 shares during the period. GAMMA Investing LLC increased its stake in Harmony Gold Mining by 11.1% in the first quarter. GAMMA Investing LLC now owns 8,689 shares of the mining company’s stock valued at $128,000 after purchasing an additional 866 shares during the last quarter. Walleye Capital LLC increased its stake in Harmony Gold Mining by 103.6% in the first quarter. Walleye Capital LLC now owns 244,232 shares of the mining company’s stock valued at $3,607,000 after purchasing an additional 124,287 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Harmony Gold Mining by 30.7% during the first quarter. Russell Investments Group Ltd. now owns 467,378 shares of the mining company’s stock worth $6,571,000 after buying an additional 109,873 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in Harmony Gold Mining by 56.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 281,313 shares of the mining company’s stock worth $4,155,000 after buying an additional 101,240 shares during the last quarter. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

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.