Harmony Gold Mining (NYSE:HMY) Price Target Raised to $8.40

by · The Markets Daily

Harmony Gold Mining (NYSE:HMY – Get Free Report) had its price target raised by JPMorgan Chase & Co. from $8.20 to $8.40 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 8.20% from the company’s current price.

Separately, Bank of America assumed coverage on shares of Harmony Gold Mining in a research report on Monday, October 21st. They set a “neutral” rating for the company.

Read Our Latest Report on HMY

Harmony Gold Mining Stock Performance

Shares of NYSE:HMY traded down $0.21 on Tuesday, hitting $9.15. 814,185 shares of the company’s stock were exchanged, compared to its average volume of 4,737,729. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. Harmony Gold Mining has a 1-year low of $4.72 and a 1-year high of $12.29. The firm’s 50-day moving average is $10.28 and its 200 day moving average is $9.69.

Institutional Investors Weigh In On Harmony Gold Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in Harmony Gold Mining by 3.3% in the 3rd quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock valued at $700,663,000 after acquiring an additional 2,206,537 shares during the period. Tidal Investments LLC purchased a new stake in shares of Harmony Gold Mining during the first quarter worth approximately $59,033,000. Acadian Asset Management LLC lifted its holdings in shares of Harmony Gold Mining by 111.5% during the second quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock worth $16,978,000 after purchasing an additional 977,142 shares during the period. AQR Capital Management LLC grew its position in Harmony Gold Mining by 63.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock valued at $14,374,000 after buying an additional 609,971 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Harmony Gold Mining in the 1st quarter valued at $8,171,000. Hedge funds and other institutional investors own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

(Get Free Report)

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.

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