Harmony Gold Mining (NYSE:HMY) Rating Lowered to Hold at Zacks Research

Harmony Gold Mining (NYSE:HMY) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on HMY. Wall Street Zen raised shares of Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. HSBC raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. Hsbc Global Res upgraded Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a report on Wednesday, October 8th. Finally, Investec upgraded shares of Harmony Gold Mining to a “hold” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Harmony Gold Mining Price Performance

NYSE:HMY opened at $20.66 on Tuesday. The company has a 50-day moving average of $18.31 and a 200-day moving average of $16.26. Harmony Gold Mining has a 52 week low of $7.97 and a 52 week high of $22.25. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

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