Harmony Gold Mining (NYSE:HMY) Shares Gap Down – Here’s What Happened

Harmony Gold Mining Company Limited (NYSE:HMY) shares gapped down before the market opened on Monday . The stock had previously closed at $21.74, but opened at $20.57. Harmony Gold Mining shares last traded at $20.0920, with a volume of 942,887 shares changing hands.

Analyst Upgrades and Downgrades

HMY has been the subject of a number of research analyst reports. Investec raised shares of Harmony Gold Mining to a “hold” rating in a research report on Friday, October 10th. Wall Street Zen downgraded Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Harmony Gold Mining in a research report on Wednesday, October 8th. Zacks Research downgraded Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, HSBC upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Stock Down 7.5%

The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $18.51 and a 200-day simple moving average of $16.59.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HMY. Advisory Services Network LLC bought a new stake in shares of Harmony Gold Mining during the third quarter valued at approximately $25,000. Colonial Trust Advisors purchased a new position in Harmony Gold Mining during the second quarter valued at $26,000. Assetmark Inc. increased its holdings in Harmony Gold Mining by 907.5% in the 3rd quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock valued at $32,000 after acquiring an additional 1,579 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Harmony Gold Mining by 181.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,773 shares of the mining company’s stock worth $50,000 after purchasing an additional 1,789 shares in the last quarter. Finally, First Horizon Advisors Inc. bought a new position in shares of Harmony Gold Mining during the 2nd quarter valued at about $55,000. 31.79% of the stock is owned by hedge funds and other institutional investors.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.

In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.