ABC Arbitrage SA Sells 1,747,329 Shares of Harmony Gold Mining Company Limited $HMY

Key Points

• ABC Arbitrage SA cut its stake in Harmony Gold Mining by 70.2% in the first quarter, selling 1,747,329 shares and leaving it with 741,545 shares worth about $11.4 million.
• Other institutional investors moved in different directions: firms like Goldman Sachs, AQR Capital Management, FIL Ltd., Arrowstreet Capital, and Lazard Asset Management all either added to or initiated positions. Overall, institutional investors now own 31.79% of the company.
• Harmony Gold Mining shares were down 0.9% at $14.97, with analysts maintaining a Moderate Buy consensus and a price target of $16.00.

ABC Arbitrage SA lowered its holdings in shares of Harmony Gold Mining Company Limited (NYSE:HMY - Free Report) by 70.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 741,545 shares of the mining company's stock after selling 1,747,329 shares during the quarter. Harmony Gold Mining accounts for about 1.5% of ABC Arbitrage SA's portfolio, making the stock its 15th biggest position. ABC Arbitrage SA owned about 0.12% of Harmony Gold Mining worth $11,398,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted its stake in Harmony Gold Mining by 48.2% in 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 period. FIL Ltd bought a new position in shares of Harmony Gold Mining during the 4th quarter worth approximately $111,182,000. Goldman Sachs Group Inc. grew its position in Harmony Gold Mining by 215.7% in the first quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company's stock valued at $82,289,000 after purchasing an additional 3,806,468 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Harmony Gold Mining by 31.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,042,664 shares of the mining company's stock valued at $60,549,000 after purchasing an additional 736,233 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in 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 buying an additional 677,479 shares in the last quarter. Institutional investors own 31.79% of the company's stock.

Harmony Gold Mining Stock Down 0.9%

NYSE HMY opened at $14.97 on Tuesday. The company has a 50 day moving average of $16.43 and a 200-day moving average of $18.17. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03. Harmony Gold Mining Company Limited has a 1-year low of $12.58 and a 1-year high of $26.06.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Zacks Research raised shares of Harmony Gold Mining from a "strong sell" rating to a "hold" rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Harmony Gold Mining from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, Morgan Stanley upgraded Harmony Gold Mining to an "overweight" rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Harmony Gold Mining currently has an average rating of "Moderate Buy" and a consensus price target of $16.00.

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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