Harmony Gold Mining (NYSE:HMY) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Harmony Gold Mining (NYSE:HMY) from a hold rating to a buy rating in a report published on Tuesday.

A number of other research analysts have also recently commented on HMY. JPMorgan Chase & Co. upped their target price on Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Bank of America started coverage on Harmony Gold Mining in a research report on Monday, October 21st. They issued a “neutral” rating on the stock.

Harmony Gold Mining Stock Up 4.5 %

HMY stock opened at $10.21 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. Harmony Gold Mining has a 12 month low of $5.41 and a 12 month high of $12.29. The company has a 50-day moving average price of $8.91 and a 200 day moving average price of $9.65.

Institutional Investors Weigh In On Harmony Gold Mining

Several hedge funds have recently made changes to their positions in HMY. Van ECK Associates Corp raised its holdings in shares of Harmony Gold Mining by 3.3% in the third quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock valued at $700,663,000 after acquiring an additional 2,206,537 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Harmony Gold Mining by 76.8% during the third quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock valued at $27,219,000 after purchasing an additional 1,162,292 shares in the last quarter. AQR Capital Management LLC raised its stake in Harmony Gold Mining by 63.7% in the second quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock worth $14,374,000 after buying an additional 609,971 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Harmony Gold Mining during the fourth quarter worth $1,804,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Harmony Gold Mining by 27.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,263 shares of the mining company’s stock valued at $8,057,000 after acquiring an additional 170,175 shares in the last quarter. 31.79% of the stock is currently 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.