Trexquant Investment LP Purchases New Stake in Harmony Gold Mining Company Limited $HMY

Key Points

• Trexquant Investment LP has made a new investment by purchasing approximately 124,198 shares of Harmony Gold Mining Company, valued at about $1.83 million.
• Recently, several other institutional investors have also increased or acquired new stakes in Harmony Gold, indicating a growing interest in the company within the investment community.
• Harmony Gold Mining's stock recently experienced a 7.1% decline, with current trading around $14.03, despite analysts issuing a mix of ratings and price targets.

Trexquant Investment LP bought a new stake in shares of Harmony Gold Mining Company Limited (NYSE:HMY - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 124,198 shares of the mining company's stock, valued at approximately $1,834,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new position in Harmony Gold Mining during the 1st quarter valued at about $33,000. Parallel Advisors LLC boosted its stake in shares of Harmony Gold Mining by 71.4% during the 1st 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. Brooklyn Investment Group boosted its stake in shares of Harmony Gold Mining by 165,766.7% during the 1st quarter. Brooklyn Investment Group now owns 4,976 shares of the mining company's stock worth $73,000 after purchasing an additional 4,973 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Harmony Gold Mining during the 4th quarter worth about $82,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of Harmony Gold Mining during the 4th quarter worth about $97,000. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Gold Mining Trading Up 5.1%

Shares of HMY traded up $0.75 during mid-day trading on Wednesday, hitting $15.47. The company had a trading volume of 6,008,225 shares, compared to its average volume of 5,777,067. The business's 50-day simple moving average is $14.69 and its 200-day simple moving average is $14.37. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. 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 market cap of $9.82 billion, a PE ratio of 9.15, a P/E/G ratio of 0.12 and a beta of 0.80.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Harmony Gold Mining in a research note on Thursday, July 17th. They set a "market perform" rating and a $16.00 price target on the stock. Zacks Research cut shares of Harmony Gold Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.