Invesco Ltd. Sells 109,401 Shares of Harmony Gold Mining Company Limited $HMY

Key Points

• Invesco Ltd. significantly reduced its stake in Harmony Gold Mining Company by 73.9%, from 147,960 shares to just 38,559 shares, indicating a drop in confidence in the company.
• Multiple large investors have modified their positions in Harmony Gold Mining, with Spire Wealth Management establishing a new position worth approximately $33,000 in the first quarter.
• Wall Street analysts hold a generally cautious outlook on Harmony Gold, with an average rating of "Hold" and a target price of $12.20, well below its current trading price.

Invesco Ltd. reduced its stake in Harmony Gold Mining Company Limited (NYSE:HMY - Free Report) by 73.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,559 shares of the mining company's stock after selling 109,401 shares during the period. Invesco Ltd.'s holdings in Harmony Gold Mining were worth $570,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Harmony Gold Mining by 11.1% in the first 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 in the last quarter. Stifel Financial Corp boosted its stake in shares of 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 acquiring an additional 881 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of 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 during the last quarter. Spire Wealth Management purchased a new position in Harmony Gold Mining during the first quarter worth about $33,000. Finally, Segall Bryant & Hamill LLC lifted its position in Harmony Gold Mining by 7.3% during the first quarter. Segall Bryant & Hamill LLC now owns 39,800 shares of the mining company's stock worth $588,000 after buying an additional 2,700 shares during the period. 31.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on HMY shares. BMO Capital Markets began 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. Zacks Research lowered Harmony Gold Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Harmony Gold Mining presently has an average rating of "Hold" and an average target price of $12.20.

Harmony Gold Mining Stock Up 0.6%

Shares of HMY traded up $0.09 during trading hours on Friday, hitting $14.10. 8,214,176 shares of the company were exchanged, compared to its average volume of 5,175,555. 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 1.41 and a current ratio of 1.72. The company has a market cap of $8.95 billion, a PE ratio of 8.34, a PEG ratio of 0.12 and a beta of 0.80. The firm's 50 day moving average is $14.63 and its 200-day moving average is $14.34.

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.