BI Asset Management Fondsmaeglerselskab A S Purchases 352,571 Shares of Harmony Gold Mining Company Limited $HMY

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Harmony Gold Mining by 306.6% during the first quarter, owning 467,569 shares worth approximately $6.9 million.
• Other institutional investors also raised their holdings in Harmony Gold Mining, contributing to a total institutional ownership of 31.79% of the company.
• BMO Capital Markets initiated coverage on Harmony Gold, setting a "market perform" rating and a price target of $16.00, while the consensus target price among analysts is $12.20.

BI Asset Management Fondsmaeglerselskab A S grew its position in Harmony Gold Mining Company Limited (NYSE:HMY - Free Report) by 306.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 467,569 shares of the mining company's stock after buying an additional 352,571 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.07% of Harmony Gold Mining worth $6,906,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HMY. Millennium Management LLC boosted its stake in Harmony Gold Mining by 59.5% in the 4th quarter. Millennium Management LLC now owns 2,635,182 shares of the mining company's stock worth $21,635,000 after purchasing an additional 982,740 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Harmony Gold Mining by 116.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,606,484 shares of the mining company's stock worth $23,728,000 after purchasing an additional 865,632 shares during the period. American Century Companies Inc. boosted its stake in Harmony Gold Mining by 14.9% in the 1st quarter. American Century Companies Inc. now owns 3,805,276 shares of the mining company's stock worth $56,204,000 after purchasing an additional 493,041 shares during the period. Two Sigma Investments LP boosted its stake in Harmony Gold Mining by 274.0% in the 4th quarter. Two Sigma Investments LP now owns 498,405 shares of the mining company's stock worth $4,092,000 after purchasing an additional 365,132 shares during the period. Finally, Marshall Wace LLP boosted its stake in Harmony Gold Mining by 1,465.3% in the 4th quarter. Marshall Wace LLP now owns 388,204 shares of the mining company's stock worth $3,187,000 after purchasing an additional 363,404 shares during the period. Institutional investors and hedge funds own 31.79% of the company's stock.

Harmony Gold Mining Stock Down 1.2%

NYSE:HMY traded down $0.1960 on Monday, hitting $15.7940. 2,456,273 shares of the company's stock were exchanged, compared to its average volume of 5,733,447. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.84 and a quick ratio of 1.46. The firm has a 50-day moving average price of $14.63 and a 200-day moving average price of $14.16. The company has a market cap of $10.03 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 0.10 and a beta of 0.77. Harmony Gold Mining Company Limited has a 52 week low of $7.97 and a 52 week high of $18.77.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets assumed coverage on shares of Harmony Gold Mining in a research report on Thursday, July 17th. They set a "market perform" rating and a $16.00 price target on the stock. Four analysts have rated the stock with a Hold rating, According to MarketBeat, Harmony Gold Mining presently has a consensus rating of "Hold" and an average target price of $12.20.

About Harmony Gold Mining

Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of gold. The company explores for uranium, silver, copper, and molybdenum deposits. It has eight underground operations in the Witwatersrand Basin; an open-pit mine on the Kraaipan Greenstone Belt; and various surface source operations in South Africa.