Harmony Gold Mining (NYSE:HMY) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Harmony Gold Mining from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy.”
• Harmony Gold Mining shares opened at $20.28, above their 50-day and 200-day moving averages of $17.74 and $17.33, respectively; the stock’s 52-week range is $13.03 to $26.06.
• Institutional investors own approximately 31.79% of the company, with several hedge funds and asset managers recently establishing new positions.

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

Other analysts have also recently issued research reports about the company. Weiss Ratings restated a "buy (b-)" rating on shares of Harmony Gold Mining in a report on Friday, July 17th. Zacks Research upgraded shares of Harmony Gold Mining from a "strong sell" rating to a "hold" rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Harmony Gold Mining currently has a consensus rating of "Moderate Buy".

Harmony Gold Mining Price Performance

HMY stock opened at $20.28 on Friday. The business has a fifty day moving average price of $17.74 and a 200 day moving average price of $17.33. The company has a quick ratio of 0.64, a current ratio of 0.84 and a debt-to-equity ratio of 0.03. Harmony Gold Mining has a fifty-two week low of $13.03 and a fifty-two week high of $26.06.

Hedge Funds Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new stake in shares of Harmony Gold Mining during the third quarter worth $25,000. TD Private Client Wealth LLC bought a new stake in Harmony Gold Mining in the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Harmony Gold Mining in the fourth quarter worth $26,000. Ascentis Independent Advisors acquired a new stake in Harmony Gold Mining in the first quarter worth $28,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Harmony Gold Mining during the first quarter worth $33,000. 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.

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