Weiss Asset Management LP Decreases Stake in Harmony Gold Mining Company Limited $HMY

Weiss Asset Management LP cut its holdings in shares of Harmony Gold Mining Company Limited (NYSE:HMY) by 66.5% in the 1st quarter, Holdings Channel reports. The fund owned 31,080 shares of the mining company’s stock after selling 61,560 shares during the period. Weiss Asset Management LP’s holdings in Harmony Gold Mining were worth $478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Advisory Services Network LLC acquired a new position in shares of Harmony Gold Mining in the third quarter worth about $25,000. TD Private Client Wealth LLC purchased a new position in Harmony Gold Mining in the fourth quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Harmony Gold Mining during the 4th quarter valued at approximately $26,000. Ascentis Independent Advisors acquired a new stake in Harmony Gold Mining during the 1st quarter valued at approximately $28,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Harmony Gold Mining during the 1st quarter worth approximately $33,000. 31.79% of the stock is owned by hedge funds and other institutional investors.

Harmony Gold Mining Stock Performance

Shares of HMY stock opened at $15.54 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.03. Harmony Gold Mining Company Limited has a one year low of $12.58 and a one year high of $26.06. The company’s 50-day simple moving average is $16.03 and its 200-day simple moving average is $17.76.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HMY. Zacks Research raised Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Morgan Stanley raised shares of Harmony Gold Mining to an “overweight” rating in a research report on Thursday, April 16th. Wall Street Zen upgraded shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Harmony Gold Mining in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.

In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.