Bank of America Initiates Coverage on Harmony Gold Mining (NYSE:HMY)

Bank of America initiated coverage on shares of Harmony Gold Mining (NYSE:HMY) in a research report issued on Monday, StockNewsAPI reports. The brokerage set a “neutral” rating on the mining company’s stock.

Separately, JPMorgan Chase & Co. raised shares of Harmony Gold Mining from an “underweight” rating to a “neutral” rating and upped their target price for the company from $4.90 to $8.20 in a report on Thursday, October 10th.

Harmony Gold Mining Stock Performance

Shares of HMY opened at $12.23 on Monday. The company’s 50 day simple moving average is $10.16 and its 200-day simple moving average is $9.51. Harmony Gold Mining has a 12-month low of $4.42 and a 12-month high of $12.29. The firm has a market cap of $7.73 billion, a PE ratio of 8.79 and a beta of 1.79. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04.

Institutional Trading of Harmony Gold Mining

Several hedge funds have recently made changes to their positions in HMY. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Harmony Gold Mining in the second quarter valued at approximately $41,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Harmony Gold Mining in the first quarter valued at about $52,000. GAMMA Investing LLC boosted its holdings in Harmony Gold Mining by 29.2% during the first 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. Atlas Capital Advisors LLC acquired a new position in Harmony Gold Mining during the first quarter worth about $61,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Harmony Gold Mining in the first quarter valued at about $77,000. 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.