Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Here’s Why

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $19.95, but opened at $20.67. Harmony Gold Mining shares last traded at $20.1230, with a volume of 1,075,485 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HMY. Zacks Research downgraded shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Weiss Ratings restated a “buy (b)” rating on shares of Harmony Gold Mining in a report on Wednesday, October 8th. HSBC upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Thursday, October 9th. Hsbc Global Res upgraded Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Finally, Wall Street Zen cut shares of Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 20th. 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 stock. According to MarketBeat, Harmony Gold Mining presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Trading Up 1.2%

The stock’s fifty day moving average price is $18.51 and its 200-day moving average price is $16.62. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC bought a new position in shares of Harmony Gold Mining in the third quarter valued at about $25,000. Quantessence Capital LLC bought a new stake in shares of Harmony Gold Mining during the third quarter worth approximately $672,000. Qube Research & Technologies Ltd grew its position in shares of Harmony Gold Mining by 37.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,515,205 shares of the mining company’s stock valued at $27,501,000 after purchasing an additional 411,101 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Harmony Gold Mining by 196.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 400,717 shares of the mining company’s stock worth $7,273,000 after purchasing an additional 265,477 shares during the last quarter. Finally, Mariner LLC boosted its stake in Harmony Gold Mining by 8.1% in the 3rd quarter. Mariner LLC now owns 126,939 shares of the mining company’s stock valued at $2,304,000 after purchasing an additional 9,510 shares during the period. 31.79% of the stock is owned by institutional investors and hedge funds.

About Harmony Gold Mining

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.