Harmony Gold Mining (NYSE:HMY) Hits New 12-Month High – Time to Buy?

Harmony Gold Mining Company Limited (NYSE:HMY) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $12.44 and last traded at $12.32, with a volume of 561331 shares traded. The stock had previously closed at $12.00.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HMY shares. Bank of America began coverage on Harmony Gold Mining in a research note on Monday, October 21st. They set a “neutral” rating for the company. StockNews.com cut Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th.

Harmony Gold Mining Price Performance

The stock’s fifty day simple moving average is $9.52 and its 200-day simple moving average is $9.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07.

Hedge Funds Weigh In On Harmony Gold Mining

Hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in Harmony Gold Mining by 3.3% in the third quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock valued at $700,663,000 after purchasing an additional 2,206,537 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Harmony Gold Mining by 5.5% during the 4th quarter. American Century Companies Inc. now owns 3,312,235 shares of the mining company’s stock worth $27,193,000 after buying an additional 171,282 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Harmony Gold Mining by 76.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock worth $27,219,000 after buying an additional 1,162,292 shares in the last quarter. ABC Arbitrage SA acquired a new stake in Harmony Gold Mining in the 4th quarter valued at about $20,229,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Harmony Gold Mining by 27.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,263 shares of the mining company’s stock valued at $8,057,000 after acquiring an additional 170,175 shares in the last quarter. 31.79% of the stock is owned by hedge funds and other institutional investors.

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.