The National Bank of Canada FI has recently acquired an impressive new stake in Harmony Gold Mining Company Limited (NYSE:HMY) during the last fiscal quarter, as recently reported by its latest Form 13F filing with the US Securities and Exchange Commission (SEC). This has undoubtedly caused a great deal of buzz among investors who are paying close attention to this move. In particular, the National Bank’s acquisition of over one million shares – precisely 1,037,158 – represents a substantial injection of $3.526 million into the mining company’s stock.
This significant acquisition has actually been rather fortuitous timing for HMY as it follows a series of recent research reports on the company that have only added to investor interest. For instance, StockNews.com just released coverage on Harmony Gold Mining, announcing a “hold” rating on the company’s stock. Meanwhile, HSBC decided to rate HMY even lower, moving from “hold” to “reduce.” However, Investec offered a much more optimistic outlook in their report and upgraded Harmony Gold Mining to a “buy” rating.
Given this recent positive press fueling market sentiment surrounding Harmony Gold Mining Company Limited (NYSE:HMY), many other hedge funds may soon follow suit and invest in HMY shares themselves. Interested investors should watch carefully how these recent developments impact HMY’s performance over time.
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Institutional Investors Show Interest in Harmony Gold Mining Company Limited for Long-Term Value
Harmony Gold Mining Company Limited, a well-known name in the gold mining industry, has been attracting attention from different institutional investors recently. A number of these investors have either added to or reduced their stakes in the company, and behind each of these moves are discerning reasons that guide such actions.
Sequoia Financial Advisors LLC is among the few who chose to buy into Harmony Gold Mining in Q1 this year. Their newly-acquired position reportedly cost them around $54,000. Another investor that sees potential in the company is O Dell Group LLC who bought a new position worth approximately $28,000 towards Q3 2021. On the other hand, Signaturefd LLC was reported to boost its holdings by an impressive 334.9% during the same period and now owns 12,816 shares valued at $31,000. While Enlightenment Research LLC also expressed interest in investing in Harmon Gold Mining’s first quarter report; they were willing to shell out around $65,000 for their new position.
It appears that these institutional investors are looking beyond immediate gains as they believe that there is more long-term value to be uncovered with their investment decisions. Bank of New York Mellon Corp also joined this group with a reported spend of approximately $67,000.
According to recent reports, 36.50% of HMY’s stock is owned by institutional investors and hedge funds – which suggests that there seems to be a growing interest in acquiring positions across various sectors and types of investments within this industry.
Harmony Gold Mining Co Ltd not only focuses on gold mining but also on land rehabilitation and mine closure – contributing positively towards a sustainable environment. The company operates through different segments including Tshepong Operations and Masimong among others which focus on operations both underground and on surface level areas.
In terms of performance over time, HMY recorded a 12 month high of $5.04 while recording a low price of $1.93 – pointing to a highly volatile period for the company in relation to its reported share price.
Despite this volatility, given the increasing attention it has been receiving from institutional investors, there seems to be underlying good signs for Harmony Gold Mining Company Limited.
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