Harmony Gold Mining (NYSE:HMY) Cut to Strong Sell at Zacks Research

Key Points

• Harmony Gold Mining has been downgraded from a "hold" to a "strong sell" rating by Zacks Research, indicating a negative outlook for the stock.
• BMO Capital Markets has set a $16.00 target price for Harmony Gold Mining, while the average price target among analysts is currently $12.20.
• Recent institutional trading activity shows significant increases in stakes by various firms, including Jump Financial LLC, which grew its position by 2,655.3% in the first quarter.

Harmony Gold Mining (NYSE:HMY - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Monday,Zacks.com reports.

Separately, BMO Capital Markets assumed coverage on shares of Harmony Gold Mining in a research report on Thursday, July 17th. They set a "market perform" rating and a $16.00 target price for the company. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Harmony Gold Mining has an average rating of "Reduce" and an average price target of $12.20.

Harmony Gold Mining Stock Performance

NYSE HMY opened at $18.07 on Monday. Harmony Gold Mining has a 52-week low of $7.97 and a 52-week high of $18.77. The company has a 50-day simple moving average of $14.95 and a 200 day simple moving average of $14.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.72. The company has a market capitalization of $11.47 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 0.15 and a beta of 0.80.

Institutional Trading of Harmony Gold Mining

Institutional investors have recently modified their holdings of the business. Jump Financial LLC grew its stake in Harmony Gold Mining by 2,655.3% in the 1st quarter. Jump Financial LLC now owns 585,608 shares of the mining company's stock valued at $8,649,000 after buying an additional 564,354 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Harmony Gold Mining by 11.1% in the first quarter. GAMMA Investing LLC now owns 8,689 shares of the mining company's stock worth $128,000 after acquiring an additional 866 shares during the period. Walleye Capital LLC grew its position in shares of Harmony Gold Mining by 103.6% in the first quarter. Walleye Capital LLC now owns 244,232 shares of the mining company's stock valued at $3,607,000 after purchasing an additional 124,287 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Harmony Gold Mining by 30.7% in the first quarter. Russell Investments Group Ltd. now owns 467,378 shares of the mining company's stock valued at $6,571,000 after purchasing an additional 109,873 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Harmony Gold Mining by 56.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 281,313 shares of the mining company's stock valued at $4,155,000 after purchasing an additional 101,240 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 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.

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