Harmony Gold Mining (NYSE:HMY) Cut to Hold at StockNews.com

Harmony Gold Mining (NYSE:HMY) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

HMY has been the subject of several other research reports. Bank of America assumed coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised their price target on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research note on Tuesday.

Harmony Gold Mining Stock Performance

NYSE:HMY opened at $9.04 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. Harmony Gold Mining has a 52 week low of $5.11 and a 52 week high of $12.29. The firm has a 50-day moving average price of $10.28 and a two-hundred day moving average price of $9.69.

Institutional Investors Weigh In On Harmony Gold Mining

Several large investors have recently modified their holdings of HMY. Tidal Investments LLC purchased a new position in Harmony Gold Mining in the 1st quarter valued at approximately $59,033,000. Van ECK Associates Corp boosted its holdings in Harmony Gold Mining by 3.3% in the 3rd quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock valued at $700,663,000 after purchasing an additional 2,206,537 shares during the period. Lazard Asset Management LLC bought a new position in Harmony Gold Mining in the 1st quarter valued at $8,171,000. Acadian Asset Management LLC boosted its holdings in Harmony Gold Mining by 111.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock valued at $16,978,000 after purchasing an additional 977,142 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Harmony Gold Mining by 63.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock valued at $14,374,000 after purchasing an additional 609,971 shares during the period. Hedge funds and other institutional investors own 31.79% of the company’s stock.

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.