Harmony Gold Mining (NYSE:HMY) Stock Rating Lowered by HSBC

Harmony Gold Mining (NYSE:HMY) was downgraded by investment analysts at HSBC from a “hold” rating to a “reduce” rating in a research note issued on Friday, Marketbeat Ratings reports.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Harmony Gold Mining from $3.20 to $4.90 and gave the company an “underweight” rating in a research note on Wednesday. StockNews.com lowered 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

Harmony Gold Mining stock opened at $9.29 on Friday. The firm has a 50 day simple moving average of $7.40 and a 200-day simple moving average of $6.18. Harmony Gold Mining has a 1-year low of $3.41 and a 1-year high of $9.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 1.11. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 8.85 and a beta of 1.71.

Institutional Investors Weigh In On Harmony Gold Mining

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in Harmony Gold Mining by 29.2% during the 1st quarter. GAMMA Investing LLC now owns 6,622 shares of the mining company’s stock worth $54,000 after buying an additional 1,496 shares in the last quarter. Profund Advisors LLC lifted its holdings in Harmony Gold Mining by 5.8% during the 4th quarter. Profund Advisors LLC now owns 43,218 shares of the mining company’s stock worth $266,000 after buying an additional 2,383 shares in the last quarter. Arlington Capital Management Inc. raised its holdings in shares of Harmony Gold Mining by 1.7% in the 3rd quarter. Arlington Capital Management Inc. now owns 177,338 shares of the mining company’s stock valued at $667,000 after purchasing an additional 2,910 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Harmony Gold Mining by 10.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,077 shares of the mining company’s stock valued at $132,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its holdings in shares of Harmony Gold Mining by 26.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 15,016 shares of the mining company’s stock valued at $62,000 after purchasing an additional 3,103 shares in the last quarter. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.