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 Wednesday . The stock had previously closed at $19.28, but opened at $20.63. Harmony Gold Mining shares last traded at $20.7650, with a volume of 528,626 shares trading hands.

Analyst Ratings Changes

A number of research firms have commented on HMY. Weiss Ratings restated a “buy (b-)” rating on shares of Harmony Gold Mining in a research report on Friday, July 17th. Zacks Research upgraded Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Finally, Wall Street Zen raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Harmony Gold Mining Price Performance

The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average is $16.67 and its two-hundred day moving average is $17.29.

Institutional Investors Weigh In On Harmony Gold Mining

A number of institutional investors have recently modified their holdings of HMY. Public Employees Retirement System of Ohio purchased a new stake in shares of Harmony Gold Mining in the 2nd quarter valued at $952,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lifted its stake in Harmony Gold Mining by 15.7% during the 2nd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 114,200 shares of the mining company’s stock worth $1,737,000 after acquiring an additional 15,500 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Harmony Gold Mining during the 2nd quarter valued at about $152,000. GAMMA Investing LLC boosted its holdings in Harmony Gold Mining by 7.6% during the 2nd quarter. GAMMA Investing LLC now owns 9,548 shares of the mining company’s stock valued at $145,000 after acquiring an additional 678 shares during the period. Finally, DV Trading LLC boosted its holdings in Harmony Gold Mining by 1,181.7% during the 1st quarter. DV Trading LLC now owns 11,125 shares of the mining company’s stock valued at $171,000 after acquiring an additional 10,257 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.