48,458 Shares in Harmony Gold Mining Company Limited $HMY Purchased by Freedom Investment Management Inc.

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 position in shares of Harmony Gold Mining Company Limited (NYSE:HMY - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 48,458 shares of the mining company's stock, valued at approximately $716,000.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings 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 in the last quarter. Millennium Management LLC increased its holdings 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 in the last quarter. Mackenzie Financial Corp grew its position in shares of Harmony Gold Mining by 15.1% in the 1st quarter. Mackenzie Financial Corp now owns 1,840,989 shares of the mining company's stock valued at $27,191,000 after buying an additional 241,076 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of 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 valued at $23,728,000 after buying an additional 865,632 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Harmony Gold Mining by 32.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,248,459 shares of the mining company's stock valued at $10,249,000 after buying an additional 303,723 shares during the last quarter. 31.79% of the stock is owned by institutional investors and hedge funds.

Harmony Gold Mining Stock Up 5.3%

Shares of Harmony Gold Mining stock traded up $0.66 on Friday, hitting $13.27. The company had a trading volume of 8,691,707 shares, compared to its average volume of 4,178,100. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 7.85, a P/E/G ratio of 0.08 and a beta of 0.77. Harmony Gold Mining Company Limited has a 1 year low of $7.97 and a 1 year high of $18.77. The stock has a 50 day moving average of $14.62 and a 200-day moving average of $14.23. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.46 and a current ratio of 1.84.

Analysts Set New Price Targets

HMY has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on 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 lowered Harmony Gold Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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.