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

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $11.27, but opened at $11.64. Harmony Gold Mining shares last traded at $11.68, with a volume of 1,680,836 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, Bank of America began coverage on Harmony Gold Mining in a report on Monday, October 21st. They set a “neutral” rating for the company.

Harmony Gold Mining Stock Performance

The stock has a 50-day moving average of $9.18 and a 200 day moving average of $9.70. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Harmony Gold Mining

A number of hedge funds have recently added to or reduced their stakes in HMY. Consolidated Portfolio Review Corp acquired a new position in shares of Harmony Gold Mining during the third quarter worth approximately $1,187,000. Public Employees Retirement System of Ohio bought a new position in Harmony Gold Mining in the 3rd quarter worth approximately $1,412,000. HighTower Advisors LLC boosted its position in Harmony Gold Mining by 298.5% in the 3rd 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 stake in shares of Harmony Gold Mining in the 2nd quarter valued at $1,141,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Harmony Gold Mining during the third quarter worth $1,526,000. Institutional investors own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

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.