JPMorgan Chase & Co. Increases Harmony Gold Mining (NYSE:HMY) Price Target to $4.90

Harmony Gold Mining (NYSE:HMY) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $3.20 to $4.90 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 46.06% from the company’s current price.

Separately, StockNews.com downgraded shares of Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a report on Friday, April 12th.

Harmony Gold Mining Stock Performance

Shares of Harmony Gold Mining stock opened at $9.09 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.11 and a current ratio of 1.62. Harmony Gold Mining has a one year low of $3.41 and a one year high of $9.80. The stock’s 50-day moving average is $7.26 and its 200 day moving average is $6.10.

Institutional Investors Weigh In On Harmony Gold Mining

A number of large investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Harmony Gold Mining during the 1st quarter valued at about $96,000. Vanguard Capital Wealth Advisors bought a new position in Harmony Gold Mining during the first quarter valued at approximately $278,000. St. Johns Investment Management Company LLC purchased a new position in shares of Harmony Gold Mining during the first quarter worth approximately $52,000. Atlas Capital Advisors LLC bought a new stake in shares of Harmony Gold Mining in the 1st quarter worth approximately $61,000. Finally, Shilanski & Associates Inc. purchased a new stake in shares of Harmony Gold Mining in the 1st quarter valued at $225,000. Hedge funds and other institutional investors own 31.79% of the company’s stock.

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.