Harmony Gold Mining (NYSE:HMY) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Harmony Gold Mining (NYSE:HMY) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. HSBC upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Thursday, October 9th. Hsbc Global Res raised Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Finally, Investec raised shares of Harmony Gold Mining to a “hold” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Harmony Gold Mining Stock Up 2.2%

NYSE HMY opened at $20.66 on Tuesday. Harmony Gold Mining has a 52-week low of $7.97 and a 52-week high of $22.25. The company has a fifty day moving average of $18.31 and a 200-day moving average of $16.26. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new stake in Harmony Gold Mining in the 3rd quarter worth approximately $25,000. Colonial Trust Advisors bought a new position in shares of Harmony Gold Mining during the second quarter valued at approximately $26,000. Assetmark Inc. lifted its stake in Harmony Gold Mining by 907.5% in the third quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock worth $32,000 after acquiring an additional 1,579 shares during the period. Farther Finance Advisors LLC boosted its holdings in Harmony Gold Mining by 181.8% in the third quarter. Farther Finance Advisors LLC now owns 2,773 shares of the mining company’s stock valued at $50,000 after acquiring an additional 1,789 shares in the last quarter. Finally, First Horizon Advisors Inc. purchased a new position in Harmony Gold Mining during the 2nd quarter valued at $55,000. 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.