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

Harmony Gold Mining (NYSE:HMY) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $3.20 to $4.90 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 46.33% from the stock’s previous close.

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

Harmony Gold Mining Price Performance

HMY stock opened at $9.13 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. Harmony Gold Mining has a one year low of $3.41 and a one year high of $9.80. The company has a 50 day moving average price of $7.33 and a two-hundred day moving average price of $6.13.

Hedge Funds Weigh In On Harmony Gold Mining

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Harmony Gold Mining by 29.2% during the 1st quarter. GAMMA Investing LLC now owns 6,622 shares of the mining company’s stock valued at $54,000 after acquiring an additional 1,496 shares in the last quarter. Profund Advisors LLC lifted its holdings in shares of Harmony Gold Mining by 5.8% during the 4th quarter. Profund Advisors LLC now owns 43,218 shares of the mining company’s stock valued at $266,000 after acquiring an additional 2,383 shares in the last quarter. Arlington Capital Management Inc. lifted its holdings in shares of Harmony Gold Mining by 1.7% during the 3rd quarter. Arlington Capital Management Inc. now owns 177,338 shares of the mining company’s stock valued at $667,000 after acquiring an additional 2,910 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Harmony Gold Mining by 10.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,077 shares of the mining company’s stock valued at $132,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Wetherby Asset Management Inc. lifted its holdings in shares of Harmony Gold Mining by 26.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 15,016 shares of the mining company’s stock valued at $62,000 after acquiring an additional 3,103 shares in the last quarter. Institutional investors and hedge funds 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.