Harmony Gold Mining (NYSE:HMY) Reaches New 1-Year High – Time to Buy?

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $23.20 and last traded at $22.8570, with a volume of 903220 shares trading hands. The stock had previously closed at $21.80.

Analyst Ratings Changes

HMY has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Harmony Gold Mining in a report on Wednesday, October 8th. Zacks Research lowered shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Hsbc Global Res raised shares of Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Investec raised Harmony Gold Mining to a “hold” rating in a research report on Friday, October 10th. Finally, HSBC upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.00.

Harmony Gold Mining Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.72. The business has a fifty day simple moving average of $19.79 and a two-hundred day simple moving average of $17.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new stake in shares of Harmony Gold Mining in the 3rd quarter worth about $25,000. Assetmark Inc. boosted its position in 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 buying an additional 1,579 shares in the last quarter. Colonial Trust Advisors bought a new stake in Harmony Gold Mining during the second quarter worth about $26,000. Farther Finance Advisors LLC increased its holdings in shares of Harmony Gold Mining by 181.8% during the third quarter. Farther Finance Advisors LLC now owns 2,773 shares of the mining company’s stock worth $50,000 after buying an additional 1,789 shares in the last quarter. Finally, First Horizon Advisors Inc. bought a new position in shares of Harmony Gold Mining in the second quarter valued at approximately $55,000. 31.79% of the stock is 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.