Harmony Gold Mining (HMY) Downgraded to Strong Sell at ValuEngine

Harmony Gold Mining (NYSE:HMY) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday.

Separately, Zacks Investment Research raised Harmony Gold Mining from a “sell” rating to a “hold” rating in a research report on Thursday, May 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $2.50.

Harmony Gold Mining stock opened at $1.44 on Wednesday. The company has a market cap of $724.91 million, a P/E ratio of 6.81 and a beta of -1.96. The company has a current ratio of 2.21, a quick ratio of 1.61 and a debt-to-equity ratio of 0.09. Harmony Gold Mining has a one year low of $1.42 and a one year high of $2.53.

A number of institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its position in Harmony Gold Mining by 39.7% during the 2nd quarter. Jane Street Group LLC now owns 754,163 shares of the mining company’s stock worth $1,176,000 after acquiring an additional 214,336 shares in the last quarter. Van ECK Associates Corp lifted its position in Harmony Gold Mining by 7.9% during the 2nd quarter. Van ECK Associates Corp now owns 57,916,855 shares of the mining company’s stock worth $90,350,000 after acquiring an additional 4,243,563 shares in the last quarter. Renaissance Technologies LLC lifted its position in Harmony Gold Mining by 173.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,500 shares of the mining company’s stock worth $3,107,000 after acquiring an additional 1,263,100 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in Harmony Gold Mining by 11.1% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,315,579 shares of the mining company’s stock worth $2,052,000 after acquiring an additional 131,285 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Harmony Gold Mining by 40.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,263,911 shares of the mining company’s stock worth $1,972,000 after acquiring an additional 366,161 shares in the last quarter. 30.50% 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 and mining of gold in South Africa and Papua New Guinea. The company also explores for copper and silver deposits. It has nine underground operations; an open-pit mine; and various other surface operations in South Africa. The company owns interests in the Hidden Valley, an open-pit gold and silver mine; the Wafi Golpu project in Morobe province; and the Kili Teke gold-copper exploration project in Papua New Guinea.

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