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 Tuesday . The stock had previously closed at $10.00, but opened at $10.21. Harmony Gold Mining shares last traded at $10.08, with a volume of 1,064,703 shares traded.

Analysts Set New Price Targets

HMY has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a report on Tuesday, November 12th. StockNews.com cut Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th.

Harmony Gold Mining Trading Up 6.5 %

The stock has a market capitalization of $6.76 billion, a PE ratio of 6.28, a price-to-earnings-growth ratio of 0.63 and a beta of 1.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56. The business’s 50-day moving average is $10.20 and its two-hundred day moving average is $10.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp increased its position in Harmony Gold Mining by 12.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,599,913 shares of the mining company’s stock worth $13,135,000 after purchasing an additional 171,136 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in Harmony Gold Mining during the fourth quarter worth $539,000. GTS Securities LLC purchased a new position in Harmony Gold Mining in the fourth quarter worth $492,000. Vise Technologies Inc. acquired a new stake in Harmony Gold Mining in the fourth quarter valued at $130,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Harmony Gold Mining during the 4th quarter worth $279,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.