Russell Investments Group Ltd. Acquires 109,873 Shares of Harmony Gold Mining Company Limited $HMY

Key Points

• Russell Investments Group Ltd. increased its stake in Harmony Gold Mining Company by 30.7% during the first quarter, holding 467,378 shares valued at approximately $6.57 million.
• Other institutional investors also modified their stakes, with Connor Clark & Lunn Investment Management increasing its holding by 116.8% to own over 1.6 million shares.
• The stock price of Harmony Gold Mining has risen 3.7%, opening at $15.493, with a current consensus rating of "Hold" and a target price of $12.20.

Russell Investments Group Ltd. increased its stake in Harmony Gold Mining Company Limited (NYSE:HMY - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 467,378 shares of the mining company's stock after acquiring an additional 109,873 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Harmony Gold Mining worth $6,571,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake 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 worth $128,000 after purchasing an additional 866 shares during the last quarter. Stifel Financial Corp lifted its stake in 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 purchasing an additional 881 shares during the last quarter. LPL Financial LLC lifted its stake in Harmony Gold Mining by 3.2% in the fourth quarter. LPL Financial LLC now owns 48,774 shares of the mining company's stock worth $400,000 after purchasing an additional 1,496 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Harmony Gold Mining by 4.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 35,918 shares of the mining company's stock worth $295,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Harmony Gold Mining by 71.4% in the first quarter. Parallel Advisors LLC now owns 4,706 shares of the mining company's stock worth $70,000 after purchasing an additional 1,961 shares during the last quarter. Hedge funds and other institutional investors own 31.79% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HMY. 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 objective for the company. Zacks Research downgraded shares of Harmony Gold Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $12.20.

Harmony Gold Mining Trading Down 3.9%

Shares of Harmony Gold Mining stock traded down $0.61 on Tuesday, hitting $15.11. 6,775,263 shares of the company traded hands, compared to its average volume of 3,260,030. The stock's 50 day moving average price is $14.67 and its 200-day moving average price is $14.20. The company has a current ratio of 1.84, a quick ratio of 1.46 and a debt-to-equity ratio of 0.04. 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 market cap of $9.59 billion, a PE ratio of 8.94, a PEG ratio of 0.10 and a beta of 0.77.

Harmony Gold Mining 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.