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

Harmony Gold Mining (NYSE:HMY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

HMY has been the subject of several other reports. Bank of America started coverage on shares of Harmony Gold Mining in a research report on Monday, October 21st. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a report on Tuesday, November 12th.

Harmony Gold Mining Trading Up 1.3 %

Shares of HMY stock opened at $10.66 on Wednesday. The stock has a fifty day moving average of $9.06 and a 200 day moving average of $9.68. Harmony Gold Mining has a 52 week low of $5.41 and a 52 week high of $12.29. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HMY. Hara Capital LLC bought a new position in shares of Harmony Gold Mining during the third quarter valued at approximately $38,000. Grove Bank & Trust increased its position in Harmony Gold Mining by 400.0% during the 4th quarter. Grove Bank & Trust now owns 5,000 shares of the mining company’s stock valued at $41,000 after buying an additional 4,000 shares in the last quarter. Alliance Wealth Advisors LLC UT purchased a new position in Harmony Gold Mining during the fourth quarter valued at $88,000. Ground Swell Capital LLC bought a new stake in Harmony Gold Mining in the third quarter worth $115,000. Finally, Ballentine Partners LLC grew its stake in shares of Harmony Gold Mining by 12.2% in the fourth quarter. Ballentine Partners LLC now owns 14,048 shares of the mining company’s stock worth $115,000 after acquiring an additional 1,533 shares during the last quarter. 31.79% of the stock is owned by hedge funds and other institutional investors.

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.