Harmony Gold Mining (NYSE:HMY) Downgraded by StockNews.com to Hold

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 on Wednesday.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Bank of America initiated coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They issued a “neutral” rating on the stock.

Harmony Gold Mining Stock Performance

Shares of Harmony Gold Mining stock opened at $11.35 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $9.11 and a 200 day simple moving average of $9.69. Harmony Gold Mining has a fifty-two week low of $5.41 and a fifty-two week high of $12.29. The firm has a market cap of $7.20 billion, a P/E ratio of 7.05, a P/E/G ratio of 0.50 and a beta of 1.73.

Institutional Trading of Harmony Gold Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. Consolidated Portfolio Review Corp bought a new stake in Harmony Gold Mining in the third quarter valued at approximately $1,187,000. Public Employees Retirement System of Ohio bought a new stake in shares of Harmony Gold Mining in the 3rd quarter valued at $1,412,000. HighTower Advisors LLC lifted its holdings in Harmony Gold Mining by 298.5% during the third quarter. HighTower Advisors LLC now owns 52,383 shares of the mining company’s stock worth $525,000 after acquiring an additional 39,237 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in Harmony Gold Mining in the second quarter valued at about $1,141,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Harmony Gold Mining in the third quarter worth about $1,526,000. 31.79% of the stock is owned by institutional investors.

Harmony Gold Mining Company Profile

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.