StockNews.com Downgrades Harmony Gold Mining (NYSE:HMY) 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 to investors on Wednesday.

A number of other research firms also recently weighed in on HMY. Bank of America initiated coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a research report on Tuesday, November 12th.

Harmony Gold Mining Trading Up 4.1 %

Shares of HMY opened at $11.35 on Wednesday. The stock’s 50-day moving average price is $9.11 and its 200 day moving average price is $9.69. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. Harmony Gold Mining has a 12-month low of $5.41 and a 12-month high of $12.29. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 7.05, a P/E/G ratio of 0.50 and a beta of 1.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ABC Arbitrage SA acquired a new stake in shares of Harmony Gold Mining during the 4th quarter worth about $20,229,000. Van ECK Associates Corp increased its holdings in shares of Harmony Gold Mining by 3.3% during the third quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock worth $700,663,000 after buying an additional 2,206,537 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of 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 acquiring an additional 1,162,292 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Harmony Gold Mining by 63.7% in the second quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock valued at $14,374,000 after acquiring an additional 609,971 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Harmony Gold Mining in the 4th quarter worth approximately $1,804,000. 31.79% of the stock is owned by institutional investors.

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.