Macquarie Upgrades Harmony Gold Mining Co. (ADR) to Neutral

Brokerage firm Macquarie Upgrades its rating on Harmony Gold Mining Co. (ADR)(NYSE:HMY). The shares have been rated Neutral. Previously, the analysts had a Underperform rating on the shares. The rating by Macquarie was issued on Jul 5, 2016.

Harmony Gold Mining Co. (ADR) (HMY) made into the market gainers list on Fridays trading session with the shares advancing 4.94% or 0.21 points. Due to strong positive momentum, the stock ended at $4.46, which is also near the day’s high of $4.47. The stock began the session at $4.21 and the volume stood at 53,25,741 shares. The 52-week high of the shares is $4.47 and the 52 week low is $0.53. The company has a current market capitalization of $1,945 M and it has 43,61,87,130 shares in outstanding.

Harmony Gold Mining Co. (ADR)(HMY) last announced its earnings results on Feb 4, 2016 for Fiscal Year 2016 and Q2.Earnings per share were $0.01.

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 Company’s 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 Company’s 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 1700 meters.

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