Harmony Gold Mining (NYSE:HMY) Receives "Buy (B)" Rating from Weiss Ratings

Key Points

• Harmony Gold Mining (NYSE:HMY) has received a "Buy (B)" rating from Weiss Ratings, indicating strong confidence in the stock's performance moving forward.
• Various analysts have mixed opinions on Harmony's stock, with one recent downgrade to "strong sell" by Zacks Research and an average price target set at $12.20.
• Institutional investors significantly increased their holdings in Harmony Gold Mining, with Jump Financial LLC boosting its stake by 2,655.3% during the first quarter.

Harmony Gold Mining (NYSE:HMY - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets initiated coverage on shares of Harmony Gold Mining in a research note on Thursday, July 17th. They set a "market perform" rating and a $16.00 target price on the stock. Zacks Research lowered shares of Harmony Gold Mining from a "hold" rating to a "strong sell" rating in a research report on Monday, September 22nd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $12.20.

Harmony Gold Mining Price Performance

HMY opened at $18.80 on Wednesday. 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 stock has a market capitalization of $11.97 billion, a P/E ratio of 11.12, a P/E/G ratio of 0.15 and a beta of 0.79. The company's 50-day simple moving average is $15.81 and its two-hundred day simple moving average is $15.15. Harmony Gold Mining has a 52-week low of $7.97 and a 52-week high of $19.03.

Institutional Investors Weigh In On Harmony Gold Mining

Institutional investors have recently added to or reduced their stakes in the stock. Jump Financial LLC grew its holdings in 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 valued at $8,649,000 after buying an additional 564,354 shares in the last quarter. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.