Harmony Gold Mining (NYSE:HMY) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Harmony Gold Mining from “Buy” to “Hold,” while the broader analyst consensus remains “Moderate Buy,” with two Buy ratings and one Hold rating.
• Harmony Gold shares opened at $16.87, compared with a 12-month range of $13.03 to $26.06; the stock’s 50-day and 200-day moving averages were $19.42 and $17.30, respectively.
• Institutional investors and hedge funds own 31.79% of the company, with several firms recently establishing or increasing positions in the South African gold producer.

Harmony Gold Mining (NYSE:HMY - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other research analysts also recently issued reports about the company. Weiss Ratings raised Harmony Gold Mining from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday. Zacks Research upgraded Harmony Gold Mining to a "hold" rating in a research note on Tuesday, September 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Harmony Gold Mining has a consensus rating of "Moderate Buy".

Harmony Gold Mining Stock Performance

Shares of Harmony Gold Mining stock opened at $16.87 on Friday. Harmony Gold Mining has a 12-month low of $13.03 and a 12-month high of $26.06. The firm's 50 day simple moving average is $19.42 and its two-hundred day simple moving average is $17.30.

Institutional Trading of Harmony Gold Mining

Several hedge funds have recently added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Harmony Gold Mining in the fourth quarter valued at approximately $36,000. Ascentis Independent Advisors acquired a new stake in shares of Harmony Gold Mining during the first quarter valued at about $28,000. Banque Cantonale Vaudoise purchased a new stake in Harmony Gold Mining during the 1st quarter worth approximately $33,000. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Harmony Gold Mining in the first quarter worth $34,000. Finally, Farther Finance Advisors LLC increased its position in shares of Harmony Gold Mining by 15.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,883 shares of the mining company's stock worth $87,000 after purchasing an additional 642 shares during the last quarter. Institutional investors and hedge funds own 31.79% of the company's stock.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited is a South African-based gold producer engaged in the exploration, extraction, processing and refining of gold. The company operates a portfolio of underground and surface mines, supported by related processing facilities and exploration activities.

Harmony's operations are primarily located in South Africa, with additional assets in Papua New Guinea. Its international portfolio includes the Hidden Valley open-pit gold and silver mine, while the company also participates in the Wafi-Golpu copper-gold development project in Papua New Guinea.

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