Wall Street Zen Downgrades Harmony Gold Mining (NYSE:HMY) to Hold

Key Points

• Wall Street Zen downgraded Harmony Gold Mining from “Buy” to “Hold,” though the broader analyst consensus remains “Moderate Buy,” with other ratings ranging from Strong Buy to Hold.
• Harmony Gold shares fell 3.7% to $20.25 in Friday trading, while remaining well above their 52-week low of $12.78 and below the high of $26.06.
• Institutional investors hold 31.79% of the company, with major firms including AQR Capital, Goldman Sachs and Arrowstreet Capital recently increasing their positions.

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 research note issued to investors on Saturday.

A number of other analysts also recently issued reports on HMY. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Harmony Gold Mining in a research note on Friday, July 17th. Zacks Research raised shares of Harmony Gold Mining from a "strong sell" rating to a "hold" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Harmony Gold Mining Stock Down 3.7%

Harmony Gold Mining stock traded down $0.78 during trading on Friday, reaching $20.25. 5,933,482 shares of the company were exchanged, compared to its average volume of 3,427,211. Harmony Gold Mining has a 52-week low of $12.78 and a 52-week high of $26.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.38 and a current ratio of 0.54. The stock's 50 day simple moving average is $17.28 and its two-hundred day simple moving average is $17.38.

Hedge Funds Weigh In On Harmony Gold Mining

Large investors have recently modified their holdings of the business. AQR Capital Management LLC increased its position in shares of Harmony Gold Mining by 48.2% during the 3rd quarter. AQR Capital Management LLC now owns 5,871,169 shares of the mining company's stock worth $105,916,000 after purchasing an additional 1,910,028 shares during the last quarter. FIL Ltd acquired a new stake in shares of Harmony Gold Mining during the fourth quarter valued at about $111,182,000. Goldman Sachs Group Inc. raised its stake in shares of Harmony Gold Mining by 215.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company's stock valued at $82,289,000 after acquiring an additional 3,806,468 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Harmony Gold Mining by 31.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,042,664 shares of the mining company's stock worth $60,549,000 after acquiring an additional 736,233 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Harmony Gold Mining by 29.3% during the 4th quarter. Lazard Asset Management LLC now owns 2,988,156 shares of the mining company's stock worth $59,464,000 after purchasing an additional 677,479 shares during the period. 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 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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