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

Key Points

• Zacks Research downgraded Harmony Gold Mining (NYSE:HMY) from a "hold" to a "strong sell" in a report issued Monday.
• MarketBeat's analyst consensus remains a "Moderate Buy" with a $16.00 target price, based on 1 Strong Buy, 2 Buy, 2 Hold and 1 Sell ratings.
• Shares opened at $15.63, trading below the 50‑day ($17.35) and 200‑day ($18.95) moving averages (12‑month range $12.58–$26.06); the company shows low leverage (debt/equity 0.03) but weak short‑term liquidity (current ratio 0.54, quick ratio 0.38).

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

Several other research firms also recently commented on HMY. Wall Street Zen downgraded shares of Harmony Gold Mining from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 14th. Morgan Stanley raised shares of Harmony Gold Mining to an "overweight" rating in a report on Thursday, April 16th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Harmony Gold Mining in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Harmony Gold Mining presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

Harmony Gold Mining Price Performance

Shares of Harmony Gold Mining stock opened at $15.63 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03. Harmony Gold Mining has a 12 month low of $12.58 and a 12 month high of $26.06. The business's 50-day moving average price is $17.35 and its 200-day moving average price is $18.95.

Hedge Funds Weigh In On Harmony Gold Mining

A number of hedge funds have recently modified their holdings of HMY. Ballentine Partners LLC grew its stake in shares of Harmony Gold Mining by 5.0% in the fourth quarter. Ballentine Partners LLC now owns 12,859 shares of the mining company's stock worth $256,000 after purchasing an additional 607 shares during the last quarter. Shilanski & Associates Inc. increased its stake in shares of Harmony Gold Mining by 3.0% during the third quarter. Shilanski & Associates Inc. now owns 22,909 shares of the mining company's stock valued at $416,000 after buying an additional 670 shares during the period. Signaturefd LLC lifted its stake in Harmony Gold Mining by 5.6% in the third quarter. Signaturefd LLC now owns 16,323 shares of the mining company's stock worth $296,000 after acquiring an additional 867 shares during the period. Compound Planning Inc. boosted its holdings in Harmony Gold Mining by 3.5% in the third quarter. Compound Planning Inc. now owns 26,673 shares of the mining company's stock valued at $484,000 after acquiring an additional 913 shares in the last quarter. Finally, Vise Technologies Inc. increased its position in Harmony Gold Mining by 4.5% during the 4th quarter. Vise Technologies Inc. now owns 24,002 shares of the mining company's stock valued at $478,000 after purchasing an additional 1,030 shares during the period. Hedge funds and other institutional investors own 31.79% of the company's stock.

Harmony Gold Mining Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.