Harmony Gold Mining (NYSE:HMY) Stock Moved Down to Hold by Wall Street Zen

Key Points

• Wall Street Zen downgraded Harmony Gold Mining from “Buy” to “Hold,” although the stock retains a “Moderate Buy” consensus rating from analysts tracked by MarketBeat.
• Harmony Gold shares opened at $14.45, down 8.1%, and are trading well below their 52-week high of $26.06 and their 50-day moving average of $18.51.
• Institutional investors and hedge funds own 31.79% of HMY; several firms recently initiated positions, while Farther Finance Advisors increased its stake by 15.1%.

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

HMY has been the subject of a number of other research reports. Weiss Ratings cut shares of Harmony Gold Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, October 23rd. Zacks Research raised Harmony Gold Mining to a "hold" rating in a research note on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Harmony Gold Mining Trading Down 8.1%

Shares of HMY opened at $14.45 on Friday. Harmony Gold Mining has a 52 week low of $13.03 and a 52 week high of $26.06. The stock has a fifty day moving average of $18.51 and a 200-day moving average of $17.96.

Institutional Investors Weigh In On Harmony Gold Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in HMY. Ascentis Independent Advisors bought a new position in shares of Harmony Gold Mining in the first quarter worth $28,000. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Harmony Gold Mining in the 1st quarter worth approximately $34,000. Fortitude Family Office LLC bought a new stake in shares of Harmony Gold Mining during the 3rd quarter worth $46,000. Mather Group LLC. acquired a new position in shares of Harmony Gold Mining in the 3rd quarter valued at $60,000. Finally, Farther Finance Advisors LLC increased its position in shares of Harmony Gold Mining by 15.1% in the third quarter. Farther Finance Advisors LLC now owns 4,883 shares of the mining company's stock worth $87,000 after acquiring an additional 642 shares in the last quarter. 31.79% of the stock is currently owned by institutional investors and hedge funds.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a South African gold producer with operations and projects in South Africa and Papua New Guinea. The company explores for, mines, and processes gold-bearing ore, producing gold bullion as its primary product and silver as a byproduct at certain operations.

In South Africa, Harmony operates a portfolio of underground and surface mines, supported by processing plants and related infrastructure. Its assets include operations in the Free State and Gauteng provinces, as well as other mining and tailings-reprocessing activities.

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