Harmony Gold Mining (NYSE:HMY) Rating Increased to Buy at StockNews.com

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

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of 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 assumed coverage on Harmony Gold Mining in a research report on Monday, October 21st. They set a “neutral” rating on the stock.

Harmony Gold Mining Price Performance

Harmony Gold Mining stock traded up $0.44 during midday trading on Tuesday, reaching $10.21. 7,583,409 shares of the stock traded hands, compared to its average volume of 7,334,240. The firm has a fifty day moving average price of $8.91 and a two-hundred day moving average price of $9.65. Harmony Gold Mining has a fifty-two week low of $5.41 and a fifty-two week high of $12.29. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Harmony Gold Mining

Institutional investors have recently made changes to their positions in the company. Consolidated Portfolio Review Corp bought a new position in Harmony Gold Mining during the third quarter valued at about $1,187,000. Public Employees Retirement System of Ohio bought a new position in shares of Harmony Gold Mining in the 3rd quarter valued at approximately $1,412,000. HighTower Advisors LLC lifted its holdings in Harmony Gold Mining by 298.5% in the 3rd quarter. HighTower Advisors LLC now owns 52,383 shares of the mining company’s stock worth $525,000 after purchasing an additional 39,237 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in Harmony Gold Mining during the second quarter worth approximately $1,141,000. Finally, Sanctuary Advisors LLC acquired a new position in Harmony Gold Mining during the third quarter valued at approximately $1,526,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.