HighTower Advisors LLC Has $258,000 Stock Position in Harmony Gold Mining Company Limited $HMY

Key Points

• HighTower Advisors LLC significantly reduced its holdings in Harmony Gold Mining by 70.6% in the first quarter, now owning 17,475 shares valued at $258,000.
• Institutional investors like Millennium Management LLC and Mackenzie Financial Corp have increased their stakes, with Millennium now holding over 2.6 million shares after a 59.5% increase.
• Research reports indicate a shift in sentiment, with Zacks Research downgrading Harmony to a "hold" and a consensus target price set at $12.20, reflecting cautious outlook among analysts.

HighTower Advisors LLC decreased its position in shares of Harmony Gold Mining Company Limited (NYSE:HMY - Free Report) by 70.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,475 shares of the mining company's stock after selling 42,052 shares during the period. HighTower Advisors LLC's holdings in Harmony Gold Mining were worth $258,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in HMY. Raymond James Financial Inc. purchased a new position in Harmony Gold Mining in the fourth quarter worth $624,000. Stifel Financial Corp boosted its position in shares of Harmony Gold Mining by 1.6% in the fourth quarter. Stifel Financial Corp now owns 54,911 shares of the mining company's stock worth $451,000 after acquiring an additional 881 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Harmony Gold Mining during the fourth quarter worth $170,000. BNP Paribas Financial Markets grew its position in shares of Harmony Gold Mining by 1,108.8% during the fourth quarter. BNP Paribas Financial Markets now owns 265,570 shares of the mining company's stock worth $2,180,000 after acquiring an additional 243,600 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Harmony Gold Mining by 4.9% during the fourth quarter. Bank of America Corp DE now owns 1,235,498 shares of the mining company's stock valued at $10,143,000 after buying an additional 58,138 shares in the last quarter. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Gold Mining Stock Performance

Shares of HMY stock traded up $0.44 during trading hours on Monday, reaching $14.55. 4,150,882 shares of the company's stock were exchanged, compared to its average volume of 5,909,227. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41. The company's 50 day moving average is $14.63 and its two-hundred day moving average is $14.34. The company has a market cap of $9.24 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 0.12 and a beta of 0.80. Harmony Gold Mining Company Limited has a 1 year low of $7.97 and a 1 year high of $18.77.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HMY shares. Zacks Research lowered Harmony Gold Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. BMO Capital Markets initiated coverage on Harmony Gold Mining in a report on Thursday, July 17th. They issued a "market perform" rating and a $16.00 target price for the company. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $12.20.

Harmony Gold Mining Company Profile

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.