Blue Trust Inc. Increases Holdings in Harmony Gold Mining Company

Blue Trust Inc. has made a significant move by boosting its holdings in Harmony Gold Mining Company Limited (NYSE:HMY) by 35.6% during the fourth quarter, as detailed in its recent 13F filing with the SEC. By the end of the most recent quarter, Blue Trust Inc. owned a total of 54,288 shares after adding an additional 14,266 shares. The current value of these holdings stands at $446,000.

Other institutional investors and hedge funds have also been active in adjusting their positions in Harmony Gold Mining. For instance, Consolidated Portfolio Review Corp entered a new position in the third quarter worth $1,187,000. The Public Employees Retirement System of Ohio also made a new investment in Harmony Gold Mining during the third quarter, valued at $1,412,000. Additionally, HighTower Advisors LLC significantly increased its stake by 298.5%, owning 52,383 shares following an acquisition of 39,237 shares in the last quarter, valued at $525,000. Thrivent Financial for Lutherans also acquired a new stake during the second quarter for approximately $1,141,000, while Sanctuary Advisors LLC invested about $1,526,000 during the third quarter. Institutional investors collectively hold 31.79% of the company’s stock.

Analyst Ratings Changes

Several research firms have changed their ratings for Harmony Gold Mining. On November 12th, JPMorgan Chase & Co. raised their price target for the stock from $8.20 to $8.40, maintaining a “neutral” rating. Bank of America also initiated coverage on Harmony Gold Mining with a “neutral” rating on October 21st. In another report, StockNews.com downgraded Harmony Gold Mining from a “buy” rating to a “hold” rating.

Harmony Gold Mining Stock Performance

As of Friday, the shares of NYSE HMY opened at $11.27. The company exhibits a low debt-to-equity ratio of 0.04, a quick ratio of 1.07, and a current ratio of 1.56. Over the past months, the stock's 50-day moving average is $9.15, while its 200-day moving average is $9.70. The stock reached a twelve-month low of $5.41 and a high of $12.29.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is engaged in the exploration, extraction, and processing of gold. In addition to gold, the company also explores for uranium, silver, copper, and molybdenum deposits. Harmony operates eight underground mines in the Witwatersrand Basin, an open-pit mine in the Kraaipan Greenstone Belt, and several surface operations in South Africa.

Conclusion

With Blue Trust Inc. increasing its investment in Harmony Gold Mining, along with continued interest from other institutional investors, the market is closely monitoring the future developments of this company.

Stocks, Mining, Investment