National Bank of Canada FI Lowers Stake in Harmony Gold Mining Company Limited (NYSE:HMY)

Key Points

• National Bank of Canada FI reduced its stake in Harmony Gold Mining by 1.7% in Q1, now holding approximately 1,083,484 shares valued at $16 million.
• Other institutional investors made significant moves with Harmony Gold, including a 59.5% increase in shares by Millennium Management and a 1,465.3% increase by Marshall Wace.
• Analyst ratings reflect a consensus of "Hold" for Harmony Gold, with a price target of $12.20 according to multiple reports.

National Bank of Canada FI lowered its position in Harmony Gold Mining Company Limited (NYSE:HMY - Free Report) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,083,484 shares of the mining company's stock after selling 18,379 shares during the period. National Bank of Canada FI owned about 0.17% of Harmony Gold Mining worth $16,003,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in HMY. LPL Financial LLC boosted its stake in shares of Harmony Gold Mining by 3.2% during the 4th quarter. LPL Financial LLC now owns 48,774 shares of the mining company's stock worth $400,000 after buying an additional 1,496 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Harmony Gold Mining by 31.0% in the 4th quarter. Wells Fargo & Company MN now owns 45,942 shares of the mining company's stock valued at $377,000 after purchasing an additional 10,860 shares during the last quarter. Invesco Ltd. raised its holdings in Harmony Gold Mining by 2.9% in the 4th quarter. Invesco Ltd. now owns 147,960 shares of the mining company's stock valued at $1,215,000 after acquiring an additional 4,216 shares during the period. Renaissance Technologies LLC bought a new position in Harmony Gold Mining in the 4th quarter valued at about $11,903,000. Finally, Advisory Services Network LLC bought a new position in shares of Harmony Gold Mining during the fourth quarter worth approximately $87,000. Institutional investors own 31.79% of the company's stock.

Harmony Gold Mining Price Performance

NYSE HMY traded up $0.08 on Friday, hitting $15.34. The stock had a trading volume of 1,482,584 shares, compared to its average volume of 5,834,143. Harmony Gold Mining Company Limited has a 52-week low of $7.97 and a 52-week high of $18.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.46 and a current ratio of 1.84. The company has a market capitalization of $9.73 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 0.09 and a beta of 0.77. The firm has a 50-day moving average of $14.53 and a 200-day moving average of $13.96.

Analyst Upgrades and Downgrades

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