Trade Report: Today, Harmony Gold Mining Co. (HMY) Raised to Hold at The Zacks Investment Research

Today, Harmony Gold Mining Co. (HMY) Raised to Hold at The Zacks Investment Research

Zacks Investment Research upgraded shares of Harmony Gold Mining Co. (NYSE:HMY) from a sell rating to a hold rating in a report published on Tuesday.

According to Zacks, “Estimates for Harmony Gold have been stable lately. Harmony has a diverse portfolio of gold development projects spread across South Africa and PNG. The company is making a good progress with its Wafi-Golpu project. The company is also progressing well with its cost reduction program. Moreover, it remains focused on improving gold grades. However, Harmony is exposed to geopolitical risks associated with potential mine shut downs and labor strikes. Its operations are also likely to be impacted by a slower-than-expected ramp-up in production at mines and gold price volatility.”

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley upgraded Harmony Gold Mining from an underweight rating to an equal weight rating in a research report on Friday, November 11th. Citigroup Inc. downgraded Harmony Gold Mining from a neutral rating to a sell rating in a research report on Friday, November 11th. Finally, HSBC cut Harmony Gold Mining from a buy rating to a hold rating in a research note on Friday, November 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $5.00.

Harmony Gold Mining (NYSE:HMY) opened at 2.19 on Tuesday. Harmony Gold Mining has a 1-year low of $0.56 and a 1-year high of $4.87. The firm has a market capitalization of $956.54 million, a P/E ratio of 14.70 and a beta of -1.60. The company’s 50-day moving average price is $2.97 and its 200-day moving average price is $3.60.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Navellier & Associates Inc boosted its stake in Harmony Gold Mining by 2.0% in the third quarter. Navellier & Associates Inc now owns 79,975 shares of the mining company’s stock valued at $279,000 after buying an additional 1,575 shares during the last quarter. World Asset Management Inc boosted its stake in Harmony Gold Mining by 7.9% in the third quarter. World Asset Management Inc now owns 29,334 shares of the mining company’s stock valued at $102,000 after buying an additional 2,142 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Harmony Gold Mining by 4.6% in the third quarter. BNP Paribas Arbitrage SA now owns 116,948 shares of the mining company’s stock valued at $408,000 after buying an additional 5,113 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Harmony Gold Mining by 2.3% in the third quarter. UBS Asset Management Americas Inc. now owns 371,242 shares of the mining company’s stock valued at $1,296,000 after buying an additional 8,493 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Harmony Gold Mining by 3.9% in the third quarter. Morgan Stanley now owns 307,844 shares of the mining company’s stock valued at $1,075,000 after buying an additional 11,671 shares during the last quarter. 26.52% of the stock is currently owned by hedge funds and other institutional investors.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a gold-mining and exploration company. The Company has operations in South Africa and Papua New Guinea. In South Africa, the Company’s operations are focused on the Witwatersrand Basin and the Kraaipan Greenstone Belt. The Company operates nine underground mines, one open-pit mine and several surface operations.

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