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

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) gapped up prior to trading on Tuesday . The stock had previously closed at $15.30, but opened at $15.95. Harmony Gold Mining shares last traded at $16.1160, with a volume of 2,104,317 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HMY. Wall Street Zen lowered Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. Finally, Zacks Research lowered shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Harmony Gold Mining Trading Up 3.2%

The firm has a 50 day moving average of $21.03 and a 200 day moving average of $19.06. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. FIL Ltd bought a new stake in Harmony Gold Mining in the 4th quarter valued at about $111,182,000. Invesco Ltd. boosted its position in Harmony Gold Mining by 12,337.7% during the second quarter. Invesco Ltd. now owns 4,795,844 shares of the mining company’s stock worth $66,998,000 after purchasing an additional 4,757,285 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Harmony Gold Mining by 215.7% in the first quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock worth $82,289,000 after purchasing an additional 3,806,468 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Harmony Gold Mining by 286.6% in the second quarter. AQR Capital Management LLC now owns 3,961,141 shares of the mining company’s stock worth $54,248,000 after purchasing an additional 2,936,552 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Harmony Gold Mining by 7,504.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,306,431 shares of the mining company’s stock valued at $41,862,000 after purchasing an additional 2,276,099 shares during the period. Institutional investors own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

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.