Harmony Gold Mining (NYSE:HMY) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Harmony Gold Mining from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy,” with one Strong Buy, two Buy and two Hold ratings.
• Harmony Gold shares opened at $15.74, near their 50-day average of $15.95 and below their 200-day average of $17.68; the stock has traded between $12.58 and $26.06 over the past year.
• Institutional ownership stands at 31.79%, with firms including AQR Capital, Goldman Sachs, Arrowstreet and Lazard increasing their positions, while FIL Ltd. established a new stake.

Harmony Gold Mining (NYSE:HMY - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

HMY has been the topic of several other research reports. Weiss Ratings reissued a "buy (b-)" rating on shares of Harmony Gold Mining in a research report on Friday, July 17th. Morgan Stanley raised shares of Harmony Gold Mining to an "overweight" rating in a report on Thursday, April 16th. Finally, Zacks Research upgraded shares of Harmony Gold Mining from a "strong sell" rating to a "hold" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

Harmony Gold Mining Price Performance

Shares of Harmony Gold Mining stock opened at $15.74 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $15.95 and a 200 day moving average price of $17.68. Harmony Gold Mining has a 52 week low of $12.58 and a 52 week high of $26.06.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Harmony Gold Mining by 48.2% in the 3rd quarter. AQR Capital Management LLC now owns 5,871,169 shares of the mining company's stock worth $105,916,000 after buying an additional 1,910,028 shares during the period. FIL Ltd acquired a new stake in Harmony Gold Mining during the 4th quarter valued at approximately $111,182,000. Goldman Sachs Group Inc. boosted its holdings in shares of Harmony Gold Mining by 215.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company's stock valued at $82,289,000 after acquiring an additional 3,806,468 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Harmony Gold Mining by 31.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,042,664 shares of the mining company's stock valued at $60,549,000 after acquiring an additional 736,233 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Harmony Gold Mining by 29.3% in the fourth quarter. Lazard Asset Management LLC now owns 2,988,156 shares of the mining company's stock worth $59,464,000 after acquiring an additional 677,479 shares during the period. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

About Harmony Gold Mining

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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