Harmony Gold Mining (NYSE:HMY) Reaches New 12-Month High – Here’s Why

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) reached a new 52-week high during trading on Monday . The company traded as high as $22.63 and last traded at $22.6860, with a volume of 1646125 shares trading hands. The stock had previously closed at $20.69.

Analyst Ratings Changes

Several equities research analysts recently commented on HMY shares. Investec raised Harmony Gold Mining to a “hold” rating in a report on Friday, October 10th. Zacks Research cut shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. HSBC raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. Wall Street Zen cut Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 20th. Finally, Hsbc Global Res raised Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Harmony Gold Mining has an average rating of “Moderate Buy” and an average price target of $16.00.

Harmony Gold Mining Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41. The company’s fifty day moving average is $19.10 and its two-hundred day moving average is $17.00.

Hedge Funds Weigh In On Harmony Gold Mining

Several institutional investors have recently bought and sold shares of the company. Ariose Capital Management Ltd acquired a new stake in Harmony Gold Mining during the 3rd quarter worth approximately $1,182,000. U S Global Investors Inc. increased its position in shares of Harmony Gold Mining by 105.3% during the second quarter. U S Global Investors Inc. now owns 307,960 shares of the mining company’s stock worth $4,302,000 after acquiring an additional 157,960 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Harmony Gold Mining in the second quarter valued at $3,609,000. Envestnet Asset Management Inc. raised its stake in shares of Harmony Gold Mining by 15.5% in the second quarter. Envestnet Asset Management Inc. now owns 184,507 shares of the mining company’s stock valued at $2,578,000 after acquiring an additional 24,779 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its holdings in Harmony Gold Mining by 43.0% in the second quarter. Ashton Thomas Private Wealth LLC now owns 343,243 shares of the mining company’s stock valued at $4,795,000 after purchasing an additional 103,150 shares during the period. 31.79% of the stock is owned by institutional investors and hedge funds.

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.