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

StockNews.com lowered shares of Harmony Gold Mining (NYSE:HMY) from a buy rating to a hold rating in a research note released on Wednesday morning.

Several other research firms have also commented on HMY. Bank of America started coverage on Harmony Gold Mining in a research note on Monday, October 21st. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised 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 Stock Down 0.7 %

NYSE HMY opened at $11.27 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. Harmony Gold Mining has a 1-year low of $5.41 and a 1-year high of $12.29. The business’s fifty day moving average price is $9.15 and its 200-day moving average price is $9.70.

Institutional Investors Weigh In On Harmony Gold Mining

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