Wellington Management Group LLP Sells 833,190 Shares of Harmony Gold Mining Company Limited $HMY

Key Points

• Wellington Management Group LLP reduced its holdings in Harmony Gold Mining by 33.4%, owning 1,659,288 shares valued at approximately $24.51 million as of its latest SEC filing.
• Multiple institutional investors increased their stakes in Harmony Gold Mining, with American Century Companies Inc. raising its position by 14.9%, now holding shares worth about $56.2 million.
• BMO Capital Markets initiated coverage on Harmony Gold Mining with a "market perform" rating and set a price target of $16.00, while the average consensus price target remains at $12.20.

Wellington Management Group LLP trimmed its position in shares of Harmony Gold Mining Company Limited (NYSE:HMY - Free Report) by 33.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,659,288 shares of the mining company's stock after selling 833,190 shares during the period. Wellington Management Group LLP owned 0.26% of Harmony Gold Mining worth $24,508,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Harmony Gold Mining by 31.0% during the 4th quarter. Wells Fargo & Company MN now owns 45,942 shares of the mining company's stock valued at $377,000 after buying an additional 10,860 shares during the period. Invesco Ltd. boosted its stake in shares of Harmony Gold Mining by 2.9% during the 4th quarter. Invesco Ltd. now owns 147,960 shares of the mining company's stock valued at $1,215,000 after buying an additional 4,216 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Harmony Gold Mining during the 4th quarter valued at $624,000. Mariner LLC boosted its stake in shares of Harmony Gold Mining by 81.8% during the 4th quarter. Mariner LLC now owns 84,473 shares of the mining company's stock valued at $694,000 after buying an additional 38,009 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Harmony Gold Mining during the 4th quarter valued at $174,000. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of 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 target price for the company. Zacks Research lowered shares of Harmony Gold Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $12.20.

Harmony Gold Mining Stock Up 5.3%

Shares of HMY stock traded up $0.66 on Friday, hitting $13.27. The company's stock had a trading volume of 8,691,647 shares, compared to its average volume of 5,820,423. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.84 and a quick ratio of 1.46. Harmony Gold Mining Company Limited has a fifty-two week low of $7.97 and a fifty-two week high of $18.77. The firm's fifty day moving average price is $14.64 and its 200-day moving average price is $14.20. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 7.85, a P/E/G ratio of 0.09 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.