Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Still a Buy?

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $9.77, but opened at $10.16. Harmony Gold Mining shares last traded at $10.30, with a volume of 1,300,950 shares changing hands.

Analyst Ratings Changes

HMY has been the subject of several analyst reports. Bank of America began coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They issued a “neutral” rating for the company. StockNews.com upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th.

Harmony Gold Mining Stock Performance

The stock’s 50 day simple moving average is $8.96 and its 200 day simple moving average is $9.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Consolidated Portfolio Review Corp purchased a new position in shares of Harmony Gold Mining in the 3rd quarter valued at $1,187,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Harmony Gold Mining during the third quarter worth $1,412,000. HighTower Advisors LLC grew its holdings in shares of Harmony Gold Mining by 298.5% during the third quarter. HighTower Advisors LLC now owns 52,383 shares of the mining company’s stock valued at $525,000 after buying an additional 39,237 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Harmony Gold Mining in the 2nd quarter valued at $1,141,000. Finally, Sanctuary Advisors LLC purchased a new position in Harmony Gold Mining in the 3rd quarter worth $1,526,000. Institutional investors own 31.79% of the company’s stock.

About Harmony Gold Mining

Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of gold. The company explores for uranium, silver, copper, and molybdenum deposits. It has eight underground operations in the Witwatersrand Basin; an open-pit mine on the Kraaipan Greenstone Belt; and various surface source operations in South Africa.