Harmony Gold Mining (HMY) Shares Down 6.2%

Harmony Gold Mining Co. (NYSE:HMY)’s share price was down 6.2% during trading on Wednesday . The stock traded as low as $1.66 and last traded at $1.67. Approximately 4,166,227 shares traded hands during trading, a decline of 3% from the average daily volume of 4,284,959 shares. The stock had previously closed at $1.78.

Several equities analysts have recently commented on HMY shares. ValuEngine raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Deutsche Bank raised Harmony Gold Mining from a “sell” rating to a “hold” rating in a report on Thursday, November 30th. Bank of America lowered Harmony Gold Mining from a “buy” rating to a “neutral” rating in a report on Friday, October 20th. Finally, BidaskClub lowered Harmony Gold Mining from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold”.

The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 0.02.

Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA grew its holdings in Harmony Gold Mining by 84.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 61,810 shares of the mining company’s stock worth $113,000 after buying an additional 28,381 shares in the last quarter. Cetera Investment Advisers bought a new position in Harmony Gold Mining in the 2nd quarter worth approximately $103,000. JPMorgan Chase & Co. bought a new position in Harmony Gold Mining in the 2nd quarter worth approximately $128,000. SignalPoint Asset Management LLC bought a new position in Harmony Gold Mining in the 3rd quarter worth approximately $151,000. Finally, First Trust Advisors LP grew its holdings in Harmony Gold Mining by 111.4% in the 3rd quarter. First Trust Advisors LP now owns 87,826 shares of the mining company’s stock worth $161,000 after buying an additional 46,272 shares in the last quarter. 25.04% of the stock is owned by institutional investors and hedge funds.

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About Harmony Gold Mining

Harmony Gold Mining Company Limited, through its subsidiaries, is engaged in gold mining and related activities, including exploration, extraction and processing. The Company’s segments include South Africa Underground, Surface, and International. The South Africa Underground segment includes Kusasalethu, Doornkop, Phakisa, Tshepong, Masimong, Target 1, Bambanani, Joel, Unisel and Target 3.

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