Short Interest in Harmony Gold Mining Company Limited (HMY) Decreases By 78.1%

Harmony Gold Mining Company Limited (NYSE:HMY) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 3,069,782 shares, a drop of 78.1% from the June 15th total of 14,019,042 shares. Based on an average daily volume of 6,178,543 shares, the days-to-cover ratio is currently 0.5 days.

Institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in Harmony Gold Mining Company Limited by 24.7% in the first quarter. Van ECK Associates Corp now owns 76,080,435 shares of the mining company’s stock valued at $186,397,000 after buying an additional 15,081,214 shares during the last quarter. Schroder Investment Management Group boosted its position in Harmony Gold Mining Company Limited by 2.4% in the first quarter. Schroder Investment Management Group now owns 4,439,224 shares of the mining company’s stock valued at $10,388,000 after buying an additional 105,124 shares during the last quarter. Alps Advisors Inc. boosted its position in Harmony Gold Mining Company Limited by 53.7% in the second quarter. Alps Advisors Inc. now owns 2,430,868 shares of the mining company’s stock valued at $4,011,000 after buying an additional 849,107 shares during the last quarter. UBS Group AG boosted its position in Harmony Gold Mining Company Limited by 367.4% in the first quarter. UBS Group AG now owns 992,720 shares of the mining company’s stock valued at $2,432,000 after buying an additional 780,348 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Harmony Gold Mining Company Limited by 93.7% in the fourth quarter. AQR Capital Management LLC now owns 932,174 shares of the mining company’s stock valued at $2,060,000 after buying an additional 450,828 shares during the last quarter. 31.68% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Gold Mining Company Limited (NYSE:HMY) opened at 1.86 on Friday. Harmony Gold Mining Company Limited has a 12-month low of $1.56 and a 12-month high of $4.55. The stock’s 50 day moving average price is $1.71 and its 200 day moving average price is $2.18. The company has a market cap of $813.38 million, a PE ratio of 3.86 and a beta of -1.95.

A number of equities analysts have issued reports on the company. ValuEngine cut Harmony Gold Mining Company Limited from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded Harmony Gold Mining Company Limited from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Harmony Gold Mining Company Limited from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a report on Wednesday, May 3rd. Five investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company has an average rating of “Sell” and an average price target of $2.50.

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About Harmony Gold Mining Company Limited

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, and Unisel.

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