Barometer Capital Management Inc. Grows Position in Harmony Gold Mining Company Limited $HMY

Key Points

• Barometer Capital Management increased its stake in Harmony Gold Mining by 1,118.8% in the first quarter, ending with 117,000 shares worth about $1.76 million.
• Other institutional investors also added to or initiated positions in the company, and 31.79% of Harmony Gold Mining’s stock is now owned by hedge funds and other institutions.
• The stock rose 7.0% to $15.33, while analysts’ views remain mixed but tilt positive, with an average rating of “Moderate Buy.”

Barometer Capital Management Inc. lifted its position in shares of Harmony Gold Mining Company Limited (NYSE:HMY - Free Report) by 1,118.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,000 shares of the mining company's stock after purchasing an additional 107,400 shares during the quarter. Barometer Capital Management Inc.'s holdings in Harmony Gold Mining were worth $1,764,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Harmony Gold Mining during the 3rd quarter valued at about $25,000. TD Private Client Wealth LLC purchased a new position in Harmony Gold Mining during the fourth quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Harmony Gold Mining in the fourth quarter valued at approximately $26,000. Ascentis Independent Advisors acquired a new stake in Harmony Gold Mining in the first quarter valued at approximately $28,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Harmony Gold Mining in the first quarter valued at approximately $33,000. 31.79% of the stock is owned by hedge funds and other institutional investors.

Harmony Gold Mining Trading Up 7.0%

Shares of HMY stock opened at $15.33 on Wednesday. Harmony Gold Mining Company Limited has a fifty-two week low of $12.58 and a fifty-two week high of $26.06. The company has a 50 day moving average price of $16.13 and a 200 day moving average price of $17.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.38 and a current ratio of 0.54.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HMY shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Harmony Gold Mining in a research note on Friday. Zacks Research raised shares of Harmony Gold Mining from a "strong sell" rating to a "hold" rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of Harmony Gold Mining from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Morgan Stanley upgraded shares of Harmony Gold Mining to an "overweight" rating in a research 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 two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Harmony Gold Mining 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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