Freedom Investment Management Inc. Makes New $716,000 Investment in Harmony Gold Mining Company Limited $HMY

Key Points

• Freedom Investment Management Inc. has acquired a new stake in Harmony Gold Mining Company by purchasing 48,458 shares, valued at approximately $716,000.
• Multiple institutional investors, including Millennium Management LLC and Connor Clark & Lunn Investment Management Ltd., have also significantly increased their stakes in Harmony Gold Mining recently.
• Analysts currently rate Harmony Gold Mining with a consensus rating of "Hold" and a target price of $12.20, with BMO Capital Markets setting a price target of $16.00.

Freedom Investment Management Inc. acquired a new stake in shares of Harmony Gold Mining Company Limited (NYSE:HMY - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 48,458 shares of the mining company's stock, valued at approximately $716,000.

A number of other large investors also recently modified their holdings of HMY. GAMMA Investing LLC boosted its holdings in shares of Harmony Gold Mining by 11.1% during the 1st quarter. GAMMA Investing LLC now owns 8,689 shares of the mining company's stock valued at $128,000 after purchasing an additional 866 shares during the last quarter. Stifel Financial Corp boosted its stake in Harmony Gold Mining by 1.6% during the fourth quarter. Stifel Financial Corp now owns 54,911 shares of the mining company's stock valued at $451,000 after buying an additional 881 shares during the last quarter. Parallel Advisors LLC boosted 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 buying an additional 1,961 shares during the last quarter. Spire Wealth Management bought a new position in Harmony Gold Mining during the first quarter valued at approximately $33,000. Finally, Segall Bryant & Hamill LLC increased its stake in Harmony Gold Mining by 7.3% in the 1st quarter. Segall Bryant & Hamill LLC now owns 39,800 shares of the mining company's stock worth $588,000 after acquiring an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 31.79% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. BMO Capital Markets initiated 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 target price on the stock. Zacks Research cut Harmony Gold Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Harmony Gold Mining presently has an average rating of "Hold" and a consensus price target of $12.20.

Harmony Gold Mining Trading Up 5.3%

HMY traded up $0.66 on Friday, reaching $13.27. 8,691,707 shares of the company traded hands, compared to its average volume of 5,820,465. Harmony Gold Mining Company Limited has a one year low of $7.97 and a one year high of $18.77. The firm has a fifty day simple moving average of $14.62 and a two-hundred day simple moving average of $14.21. The company has a market cap of $8.43 billion, a P/E ratio of 7.85, a price-to-earnings-growth ratio of 0.09 and a beta of 0.77. The company has a quick ratio of 1.46, a current ratio of 1.84 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.