Harmony Gold Mining (NYSE:HMY) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Harmony Gold Mining from “hold” to “buy,” while other recent analyst actions helped produce a MarketBeat consensus rating of “Moderate Buy.”
• Harmony Gold shares opened at $19.72, above their 50-day moving average of $15.96 and 200-day moving average of $17.54; the stock’s 12-month range is $12.58 to $26.06.
• Institutional investors have generally increased their positions, and institutions and hedge funds collectively own 31.79% of the company’s stock.

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

A number of other analysts have also weighed in on HMY. Zacks Research raised Harmony Gold Mining from a "strong sell" rating to a "hold" rating in a research report on Monday, May 11th. Morgan Stanley upgraded Harmony Gold Mining to an "overweight" rating in a research note on Thursday, April 16th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Harmony Gold Mining in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Harmony Gold Mining has a consensus rating of "Moderate Buy".

Harmony Gold Mining Price Performance

Shares of Harmony Gold Mining stock opened at $19.72 on Friday. The business has a 50-day moving average of $15.96 and a 200 day moving average of $17.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.38 and a current ratio of 0.54. Harmony Gold Mining has a 12 month low of $12.58 and a 12 month high of $26.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ballentine Partners LLC raised its position in shares of Harmony Gold Mining by 5.0% during the 4th quarter. Ballentine Partners LLC now owns 12,859 shares of the mining company's stock worth $256,000 after acquiring an additional 607 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Harmony Gold Mining by 7.6% during the 2nd quarter. GAMMA Investing LLC now owns 9,548 shares of the mining company's stock worth $145,000 after buying an additional 678 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Harmony Gold Mining by 15.5% in the 1st quarter. Parallel Advisors LLC now owns 6,364 shares of the mining company's stock valued at $98,000 after buying an additional 852 shares in the last quarter. Vise Technologies Inc. boosted its holdings in shares of Harmony Gold Mining by 4.5% in the 4th quarter. Vise Technologies Inc. now owns 24,002 shares of the mining company's stock valued at $478,000 after buying an additional 1,030 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of Harmony Gold Mining by 11.5% in the 1st quarter. Royal Bank of Canada now owns 11,003 shares of the mining company's stock valued at $169,000 after buying an additional 1,136 shares during the last quarter. 31.79% of the stock is owned by institutional investors and hedge funds.

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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