Lord Abbett & CO. LLC Sells 36,249 Shares of Harmony Gold Mining Company Limited (NYSE:HMY)

Lord Abbett & CO. LLC cut its position in shares of Harmony Gold Mining Company Limited (NYSE:HMY) by 8.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 414,284 shares of the mining company’s stock after selling 36,249 shares during the period. Lord Abbett & CO. LLC’s holdings in Harmony Gold Mining were worth $4,213,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Hara Capital LLC bought a new position in Harmony Gold Mining during the third quarter valued at approximately $38,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Harmony Gold Mining during the 2nd quarter valued at $41,000. Wallace Advisory Group LLC purchased a new position in Harmony Gold Mining in the 2nd quarter worth $94,000. Ballentine Partners LLC bought a new stake in Harmony Gold Mining in the second quarter worth $112,000. Finally, Ground Swell Capital LLC purchased a new stake in Harmony Gold Mining during the third quarter valued at about $115,000. 31.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HMY. StockNews.com downgraded Harmony Gold Mining from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Bank of America started coverage on Harmony Gold Mining in a research note on Monday, October 21st. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. increased their price objective 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.

Harmony Gold Mining Price Performance

HMY stock opened at $8.88 on Tuesday. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 6.39, a PEG ratio of 0.46 and a beta of 1.72. The firm’s 50-day moving average price is $9.93 and its two-hundred day moving average price is $9.68. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. Harmony Gold Mining Company Limited has a 12-month low of $5.40 and a 12-month high of $12.29.

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.