Harmony Gold Mining Company Limited (NYSE:HMY) Receives $12.20 Average PT from Analysts

Key Points

• Analysts have given Harmony Gold Mining Company Limited a consensus rating of "Hold", with five investment firms covering the stock.
• The average price target among brokerages for Harmony Gold Mining is $12.20 over the next twelve months.
• The company's stock recently opened at $15.74, reflecting a 52-week range between $7.97 and $18.77.

Shares of Harmony Gold Mining Company Limited (NYSE:HMY - Get Free Report) have earned an average recommendation of "Hold" from the five research firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $12.20.

HMY has been the topic of several analyst reports. Zacks Research cut shares of Harmony Gold Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. BMO Capital Markets initiated coverage on shares of Harmony Gold Mining in a report on Thursday, July 17th. They set a "market perform" rating and a $16.00 price target on the stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in Harmony Gold Mining by 12,337.7% in the second quarter. Invesco Ltd. now owns 4,795,844 shares of the mining company's stock worth $66,998,000 after acquiring an additional 4,757,285 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Harmony Gold Mining by 215.7% in the first quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company's stock valued at $82,289,000 after purchasing an additional 3,806,468 shares during the period. AQR Capital Management LLC raised its position in shares of Harmony Gold Mining by 286.6% in the second quarter. AQR Capital Management LLC now owns 3,961,141 shares of the mining company's stock valued at $54,248,000 after purchasing an additional 2,936,552 shares during the period. Acadian Asset Management LLC raised its position in shares of Harmony Gold Mining by 4,004.0% in the first quarter. Acadian Asset Management LLC now owns 2,460,852 shares of the mining company's stock valued at $36,333,000 after purchasing an additional 2,400,889 shares during the period. Finally, Man Group plc raised its position in shares of Harmony Gold Mining by 1,801.7% in the second quarter. Man Group plc now owns 1,985,093 shares of the mining company's stock valued at $27,732,000 after purchasing an additional 1,880,708 shares during the period. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Gold Mining Stock Up 5.3%

Shares of NYSE HMY traded up $0.66 during mid-day trading on Tuesday, reaching $13.27. 8,691,707 shares of the company's stock traded hands, compared to its average volume of 4,178,100. The stock has a market cap of $8.43 billion, a P/E ratio of 7.85, a PEG ratio of 0.08 and a beta of 0.77. The business has a 50-day simple moving average of $14.62 and a 200 day simple moving average of $14.23. Harmony Gold Mining has a 1-year low of $7.97 and a 1-year high of $18.77. 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 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.