Harmony Gold reinstated with a Neutral at BofA

BofA reinstated coverage of Harmony Gold (HMY) with a Neutral rating and $12.06 price target calling it a “higher cost,” large South African listed gold producer. The firm believes Harmony’s “poor safety & fatality records relative to other producers” may deter some investors from owning shares, BofA noted. While “bullish on gold,” the firm is “wary of company specific risks,” BofA added.