Zacks Investment Research lowered shares of Harmony Gold (NYSE:HMY) from a buy rating to a sell rating in a research note released on Tuesday.
According to Zacks, “Harmony remains exposed to issues such as mine shut downs and labor strikes. The company’s high cost structure is another concern. It is also exposed to a volatile gold pricing environment.”
Several other analysts have also issued reports on HMY. HSBC upgraded shares of Harmony Gold from a hold rating to a buy rating in a research report on Wednesday, February 14th. ValuEngine lowered shares of Harmony Gold from a buy rating to a hold rating in a research report on Tuesday, April 3rd. Finally, Deutsche Bank lowered shares of Harmony Gold from a hold rating to a sell rating in a research report on Wednesday, April 11th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $2.50.
NYSE HMY opened at $2.00 on Tuesday. The company has a current ratio of 2.21, a quick ratio of 1.61 and a debt-to-equity ratio of 0.09. The company has a market cap of $880.56, a P/E ratio of 9.52 and a beta of -1.96. Harmony Gold has a 1 year low of $1.56 and a 1 year high of $2.53.
A number of large investors have recently modified their holdings of the stock. Schroder Investment Management Group lifted its stake in Harmony Gold by 220.0% in the 4th quarter. Schroder Investment Management Group now owns 6,130,459 shares of the mining company’s stock valued at $11,464,000 after purchasing an additional 4,214,759 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Harmony Gold by 257.5% in the 4th quarter. Wells Fargo & Company MN now owns 1,703,659 shares of the mining company’s stock valued at $3,186,000 after purchasing an additional 1,227,132 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Harmony Gold by 12.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,115,912 shares of the mining company’s stock valued at $2,087,000 after purchasing an additional 126,434 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Harmony Gold by 404.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 951,319 shares of the mining company’s stock valued at $1,779,000 after purchasing an additional 762,619 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in Harmony Gold in the 3rd quarter valued at approximately $1,353,000. 26.32% of the stock is owned by institutional investors and hedge funds.
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Harmony Gold 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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