Brokerage Firm Rating Update on Harmony Gold Mining Company Limited (HMY)

Harmony Gold Mining Company Limited (HMY) : Zacks Investment Research ranks Harmony Gold Mining Company Limited (HMY) as 4, which is a Sell recommendation. A total of 1 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 1 research analysts is 3, which indicates as a Hold.


For the current week, the company shares have a recommendation consensus of Buy. Also, Equity analysts at the Brokerage firm JP Morgan upgrades its rating on Harmony Gold Mining Company Limited (NYSE:HMY). The rating major has initiated the coverage with overweight rating on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on July 12, 2016.

Harmony Gold Mining Company Limited (NYSE:HMY): stock was range-bound between the intraday low of $3.82 and the intraday high of $4.09 after having opened at $4.07 on Wednesdays session. The stock finally closed in the red at $4.07, a loss of -4.37%. The stock remained in the red for the whole trading day. The total traded volume was 5,503,319 shares. The stock failed to cross $4.09 in Wednesdays trading. The stocks closing price on Thursday was $4.12.

Harmony Gold Mining Company Limited is a gold-mining and exploration company. The Company has operations in South Africa and Papua New Guinea. In South Africa, the Companys operations are focused on the Witwatersrand Basin and the Kraaipan Greenstone Belt. The Company operates nine underground mines, one open-pit mine and several surface operations. The Companys operations in Papua New Guinea form part of a 50% joint venture with Newcrest Mining Limited. These operations include the Hidden Valley open-pit gold and silver mine, the Wafi-Golpu project and exploration tenements. In addition to its joint venture work, Harmony also has a 100%-owned exploration portfolio that focuses on prospective areas in Papua New Guinea. The Golpu project is a differentiating feature for Harmony and is one of the gold copper porphyries in South East Asia with an expected life-span of approximately 40 years. It has a diameter of approximately 600 meters and a proven depth of approximately 1,700 meters.

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