Harmony Gold Mining Company Limited (NYSE:HMY) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Harmony Gold Mining has received a consensus analyst rating of “Moderate Buy” from five brokerages, with two holds, two buys, and one strong buy.
• Recent analyst actions have been mixed: Morgan Stanley upgraded the stock to overweight, while Wall Street Zen downgraded it to hold and Zacks Research moved it up from strong sell to hold.
• The stock opened at $14.76, well below its 52-week high of $26.06, while institutional ownership remains significant at 31.79%.

Shares of Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) have been given an average rating of "Moderate Buy" by the five brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company.

HMY has been the topic of a number of research analyst reports. Morgan Stanley raised Harmony Gold Mining to an "overweight" rating in a research report on Thursday, April 16th. Wall Street Zen cut Harmony Gold Mining from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, Zacks Research upgraded Harmony Gold Mining from a "strong sell" rating to a "hold" rating in a report on Monday, May 11th.

Harmony Gold Mining Stock Performance

Shares of HMY stock opened at $14.76 on Friday. Harmony Gold Mining has a 1-year low of $12.58 and a 1-year high of $26.06. The company has a 50-day moving average of $16.32 and a two-hundred day moving average of $18.03. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.03.

Institutional Trading of Harmony Gold Mining

A number of institutional investors and hedge funds have recently bought and sold shares of HMY. Jones Financial Companies Lllp boosted its stake in shares of Harmony Gold Mining by 210.4% in the first quarter. Jones Financial Companies Lllp now owns 18,165 shares of the mining company's stock valued at $268,000 after purchasing an additional 12,312 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Harmony Gold Mining by 215.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company's stock worth $82,289,000 after buying an additional 3,806,468 shares in the last quarter. New York State Common Retirement Fund purchased a new position in Harmony Gold Mining in the 2nd quarter valued at approximately $171,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Harmony Gold Mining in the second quarter worth $424,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Harmony Gold Mining by 13.9% during the second quarter. EverSource Wealth Advisors LLC now owns 10,516 shares of the mining company's stock worth $147,000 after acquiring an additional 1,280 shares during the period. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.

In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.

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