Harmony Gold Mining Company Limited (NYSE:HMY) Receives Average Recommendation of “Moderate Buy” from Analysts

Harmony Gold Mining Company Limited (NYSE:HMY) has been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.00.

Several brokerages have recently weighed in on HMY. Hsbc Global Res upgraded Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Investec raised Harmony Gold Mining to a “hold” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 20th. Finally, Zacks Research cut shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th.

Harmony Gold Mining Stock Performance

Shares of NYSE HMY opened at $19.55 on Monday. Harmony Gold Mining has a 1 year low of $8.23 and a 1 year high of $22.25. The firm has a 50-day simple moving average of $18.67 and a two-hundred day simple moving average of $16.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41.

Hedge Funds Weigh In On Harmony Gold Mining

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in shares of Harmony Gold Mining during the third quarter valued at approximately $25,000. Colonial Trust Advisors purchased a new position in Harmony Gold Mining during the 2nd quarter worth $26,000. Assetmark Inc. raised its position in Harmony Gold Mining by 907.5% during the 3rd quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock valued at $32,000 after purchasing an additional 1,579 shares in the last quarter. Farther Finance Advisors LLC raised its position in Harmony Gold Mining by 181.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,773 shares of the mining company’s stock valued at $50,000 after purchasing an additional 1,789 shares in the last quarter. Finally, First Horizon Advisors Inc. purchased a new stake in shares of Harmony Gold Mining in the 2nd quarter worth $55,000. 31.79% of the stock is currently owned by institutional investors.

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.