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Harmony Gold Mining Co. Ltd. (HMY) [hlAlert]

Rating:
Underweight
HMY
down 32.59 %

Harmony Gold Mining Co. Ltd. (HMY) downgraded to Underweight by HSBC Securities

Posted on: Thursday,  Aug 8, 2013  8:25 AM ET by HSBC Securities

HSBC Securities rated Underweight Harmony Gold Mining Co. Ltd. (NYSE: HMY) on 08/08/2013. Previously HSBC Securities rated Overweight Harmony Gold Mining Co. Ltd. (NYSE:
HMY) on 04/29/2013., when the stock price was $4.94. Since then, Harmony Gold Mining Co. Ltd. has lost 32.59% as of 08/08/2013's recent price of $3.33.
If you would have followed the previous HSBC Securities's recommendation on HMY, you would have lost 32.59% of your investment in 101 days.

Harmony Gold Mining Company Limited (Harmony) is a gold producer. The Company conducts underground and surface gold mining and related activities, including exploration, processing, smelting and beneficiation. As of June 30, 2009, its mining operations reported total proven and probable reserves of approximately 48.2 million ounces. During the fiscal year ended June 30, 2009 (fiscal 2009), the Company processed approximately 21.1 million tons of ore. During fiscal 2009, all of the Company?s total gold production took place in South Africa. During fiscal 2009, approximately 93% of its South African gold came from underground mines, and approximately 7% came from its surface operations. On August 27, 2009, it acquired two new exploration projects, the Amanab and the Mount Hagen Projects, in Papua New Guinea.

HSBC has refined and refocused its Global Equities organisation, creating a lean and flexible business model built to meet the needs of global issuers and investors today and in the future. Acknowledging the changing demands of clients, we have also refined our research model, moving away from traditional maintenance to focus on long term, thematic research (a two-year-plus horizon) combined with short term (zero to three months), real-time, actionable ideas both for companies and sectors.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
8/8/2013 8:25 AM Sell
None
3.33
as of 12/13/2013
1 Week up  3.52 %
1 Month up  21.40 %
3 Months up  32.60 %
1 YTD down  -36.71 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
4/29/2013 8:25 AM Buy
None
4.94 6.90
9/16/2011 8:25 AM Buy
None
12.84 17.00
5/11/2011 8:25 AM Hold
None
13.64 16.00
3/25/2011 8:25 AM Sell
None
14.08 14.00
3/29/2010 9:25 AM Hold
None
9.58 11.00
1/26/2009 9:25 AM Sell
None
11.40
10/9/2007 9:25 AM Hold
None
10.31

(*) Stock Price at the time of the recommendation.
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