Zacks Investment Research upgraded shares of Harmony Gold Mining Co. (NYSE:HMY) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.
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.”
HMY has been the topic of a number of other reports. Morgan Stanley upgraded shares of Harmony Gold Mining from an underweight rating to an equal weight rating in a research report on Friday, November 11th. HSBC lowered shares of Harmony Gold Mining from a buy rating to a hold rating in a research report on Friday, November 11th. Finally, Citigroup Inc. lowered shares of Harmony Gold Mining from a neutral rating to a sell rating in a research report on Friday, November 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $5.00.
Shares of Harmony Gold Mining (NYSE:HMY) opened at 2.27 on Tuesday. Harmony Gold Mining has a 12-month low of $0.58 and a 12-month high of $4.87. The stock’s 50 day moving average is $2.95 and its 200-day moving average is $3.59. The stock has a market cap of $991.48 million, a price-to-earnings ratio of 15.44 and a beta of -1.60.
Several large investors have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Harmony Gold Mining during the third quarter valued at approximately $1,358,000. Panagora Asset Management Inc. bought a new stake in shares of Harmony Gold Mining during the third quarter valued at approximately $2,318,000. U S Global Investors Inc. bought a new stake in shares of Harmony Gold Mining during the third quarter valued at approximately $1,309,000. OLD Mission Capital LLC bought a new stake in shares of Harmony Gold Mining during the third quarter valued at approximately $625,000. Finally, Two Sigma Advisers LP raised its stake in shares of Harmony Gold Mining by 68.6% in the third quarter. Two Sigma Advisers LP now owns 955,100 shares of the mining company’s stock valued at $3,333,000 after buying an additional 388,600 shares during the last quarter. Institutional investors own 26.52% of the company’s stock.
Harmony Gold Mining Company Profile
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.