Harmony Gold Mining (NYSE:HMY) Rating Lowered 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 report issued on Thursday.

Several other brokerages also recently commented on HMY. Bank of America initiated coverage on Harmony Gold Mining in a report on Monday, October 21st. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. boosted their price objective on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th.

Harmony Gold Mining Trading Up 1.4 %

HMY opened at $9.20 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $10.23 and its 200-day simple moving average is $9.71. Harmony Gold Mining has a twelve month low of $5.40 and a twelve month high of $12.29.

Hedge Funds Weigh In On Harmony Gold Mining

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in Harmony Gold Mining by 3.3% in the third quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock valued at $700,663,000 after acquiring an additional 2,206,537 shares during the last quarter. Wellington Management Group LLP lifted its stake in Harmony Gold Mining by 76.8% in the third quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock valued at $27,219,000 after buying an additional 1,162,292 shares during the period. Acadian Asset Management LLC boosted its holdings in Harmony Gold Mining by 111.5% during the second quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock worth $16,978,000 after buying an additional 977,142 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Harmony Gold Mining by 63.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock worth $14,374,000 after buying an additional 609,971 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Harmony Gold Mining by 27.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,263 shares of the mining company’s stock valued at $8,057,000 after acquiring an additional 170,175 shares during the last quarter. Institutional investors and hedge funds 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.