Harmony Gold Mining (NYSE:HMY) Rating Increased to Strong-Buy at Hsbc Global Res

Key Points

• Harmony Gold Mining's stock rating was upgraded from "hold" to "strong-buy" by HSBC Global Research, indicating increased confidence in the company's future performance.
• Despite the positive upgrade from HSBC, Zacks Research recently downgraded Harmony Gold from "hold" to "strong sell," showcasing mixed analyst perceptions about the stock.
• Institutional investors have significantly increased their holdings in Harmony Gold, with Jump Financial LLC raising its stake by 2,655.3% during the first quarter.

Harmony Gold Mining (NYSE:HMY - Get Free Report) was upgraded by Hsbc Global Res from a "hold" rating to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. Zacks Research downgraded shares of Harmony Gold Mining from a "hold" rating to a "strong sell" rating in a report on Monday, September 22nd. HSBC raised shares of Harmony Gold Mining from a "hold" rating to a "buy" rating in a research report on Thursday. Weiss Ratings reissued a "buy (b)" rating on shares of Harmony Gold Mining in a research report on Wednesday. Finally, BMO Capital Markets assumed coverage on shares of Harmony Gold Mining in a research report on Thursday, July 17th. They issued a "market perform" rating and a $16.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $12.20.

Harmony Gold Mining Price Performance

NYSE HMY opened at $18.15 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Harmony Gold Mining has a 12-month low of $7.97 and a 12-month high of $19.68. The company has a market capitalization of $11.56 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 0.16 and a beta of 0.79. The firm's 50 day moving average is $15.91 and its 200-day moving average is $15.19.

Hedge Funds Weigh In On Harmony Gold Mining

A number of large investors have recently modified their holdings of HMY. Jump Financial LLC raised its stake in shares of Harmony Gold Mining by 2,655.3% during the 1st quarter. Jump Financial LLC now owns 585,608 shares of the mining company's stock worth $8,649,000 after purchasing an additional 564,354 shares during the period. GAMMA Investing LLC grew its holdings in Harmony Gold Mining by 11.1% during the 1st quarter. GAMMA Investing LLC now owns 8,689 shares of the mining company's stock valued at $128,000 after buying an additional 866 shares in the last quarter. Walleye Capital LLC grew its holdings in Harmony Gold Mining by 103.6% during the 1st quarter. Walleye Capital LLC now owns 244,232 shares of the mining company's stock valued at $3,607,000 after buying an additional 124,287 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Harmony Gold Mining by 30.7% during the 1st quarter. Russell Investments Group Ltd. now owns 467,378 shares of the mining company's stock valued at $6,571,000 after buying an additional 109,873 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in 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 buying an additional 101,240 shares in the last quarter. 31.79% of the stock is currently owned by institutional investors.

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.

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