Harmony Gold Mining (NYSE:HMY) Trading 6.3% Higher – Should You Buy?

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price was up 6.3% during mid-day trading on Wednesday . The stock traded as high as $25.84 and last traded at $25.6760. Approximately 4,164,865 shares were traded during trading, an increase of 1% from the average daily volume of 4,115,509 shares. The stock had previously closed at $24.16.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HMY shares. Investec upgraded shares of Harmony Gold Mining to a “hold” rating in a research note on Friday, October 10th. Wall Street Zen upgraded Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. HSBC upgraded shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Price Performance

The stock has a 50-day simple moving average of $20.92 and a 200-day simple moving average of $17.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41.

Institutional Investors Weigh In On Harmony Gold Mining

Several institutional investors have recently bought and sold shares of HMY. Ariose Capital Management Ltd purchased a new position in Harmony Gold Mining during the third quarter valued at $1,182,000. U S Global Investors Inc. boosted 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 last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Harmony Gold Mining in the 2nd quarter worth about $3,609,000. Envestnet Asset Management Inc. lifted its holdings in shares of Harmony Gold Mining by 15.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 184,507 shares of the mining company’s stock worth $2,578,000 after acquiring an additional 24,779 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its holdings in shares of 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 worth $4,795,000 after purchasing an additional 103,150 shares during the last quarter. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Gold Mining Company Profile

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.