Harmony Gold Mining (NYSE:HMY) Rating Lowered to Sell at ValuEngine

Harmony Gold Mining (NYSE:HMY) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, ValuEngine reports.

Several other brokerages have also recently weighed in on HMY. Zacks Investment Research raised shares of Harmony Gold Mining from a “sell” rating to a “hold” rating and set a $2.50 price target on the stock in a research report on Friday, June 28th. JPMorgan Chase & Co. lowered their price target on shares of Harmony Gold Mining from $4.20 to $4.10 and set an “overweight” rating on the stock in a research report on Thursday, September 12th.

Shares of HMY stock traded down $0.08 on Monday, hitting $2.84. 6,867,800 shares of the stock traded hands, compared to its average volume of 6,565,262. The firm’s 50-day moving average price is $3.28 and its two-hundred day moving average price is $2.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.75 and a current ratio of 1.35. The stock has a market capitalization of $1.28 billion, a PE ratio of 20.29 and a beta of -1.47. Harmony Gold Mining has a twelve month low of $1.47 and a twelve month high of $3.86.

A number of hedge funds and other institutional investors have recently bought and sold shares of HMY. Morgan Stanley lifted its position in Harmony Gold Mining by 43.1% in the second quarter. Morgan Stanley now owns 8,337,584 shares of the mining company’s stock valued at $18,927,000 after buying an additional 2,511,622 shares during the last quarter. AJO LP acquired a new position in Harmony Gold Mining in the first quarter valued at about $4,424,000. Polunin Capital Partners Ltd acquired a new position in Harmony Gold Mining in the second quarter valued at about $5,060,000. Exor Investments UK LLP lifted its position in Harmony Gold Mining by 11.2% in the second quarter. Exor Investments UK LLP now owns 14,762,756 shares of the mining company’s stock valued at $33,511,000 after buying an additional 1,487,028 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Harmony Gold Mining in the second quarter valued at about $2,620,000. 36.43% of the stock is currently owned by institutional investors.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing 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 surface treatment operations in South Africa.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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