Connor Clark & Lunn Investment Management Ltd. Increases Stake in Harmony Gold Mining Company Limited (NYSE:HMY)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Harmony Gold Mining by 116.8% in Q1, now owning over 1.6 million shares valued at approximately $23.7 million.
• Other institutional investors, including Wells Fargo and Invesco, have also increased their positions in Harmony Gold, resulting in 31.79% of the stock being held by hedge funds and institutional investors.
• Research analysts have given Harmony Gold an average rating of "Hold" with a consensus price target of $12.20, while the stock is currently trading at around $15.76.

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Harmony Gold Mining Company Limited (NYSE:HMY - Free Report) by 116.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,606,484 shares of the mining company's stock after acquiring an additional 865,632 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.25% of Harmony Gold Mining worth $23,728,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of HMY. Spire Wealth Management purchased a new position in Harmony Gold Mining during the first quarter valued at approximately $33,000. Parallel Advisors LLC grew its stake in Harmony Gold Mining by 71.4% during the first quarter. Parallel Advisors LLC now owns 4,706 shares of the mining company's stock valued at $70,000 after acquiring an additional 1,961 shares in the last quarter. Optiver Holding B.V. purchased a new position in Harmony Gold Mining during the fourth quarter valued at approximately $75,000. Capstone Investment Advisors LLC purchased a new position in Harmony Gold Mining during the fourth quarter valued at approximately $82,000. Finally, Advisory Services Network LLC purchased a new position in Harmony Gold Mining during the fourth quarter valued at approximately $87,000. Hedge funds and other institutional investors own 31.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Harmony Gold Mining in a report on Thursday, July 17th. They issued a "market perform" rating and a $16.00 price target on the stock. Hsbc Global Res raised shares of Harmony Gold Mining from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $12.20.

Harmony Gold Mining Price Performance

Shares of NYSE:HMY traded up $0.04 during trading on Tuesday, reaching $15.51. The company had a trading volume of 2,072,753 shares, compared to its average volume of 3,414,016. The company has a fifty day moving average of $14.53 and a two-hundred day moving average of $13.92. The stock has a market capitalization of $9.85 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 0.09 and a beta of 0.77. Harmony Gold Mining Company Limited has a 12 month low of $7.97 and a 12 month high of $18.77. The company has a current ratio of 1.84, a quick ratio of 1.46 and a debt-to-equity ratio of 0.04.

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.