Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Time to Buy?

Harmony Gold Mining Company Limited (NYSE:HMY) shares gapped up prior to trading on Friday . The stock had previously closed at $20.19, but opened at $20.98. Harmony Gold Mining shares last traded at $20.8930, with a volume of 660,721 shares traded.

Analysts Set New Price Targets

Several equities analysts recently weighed in on HMY shares. Zacks Research raised Harmony Gold Mining to a “hold” rating in a research note on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Harmony Gold Mining in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a research report on Sunday, September 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Harmony Gold Mining presently has an average rating of “Moderate Buy”.

Harmony Gold Mining Trading Up 3.2%

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.64. The firm’s fifty day simple moving average is $18.13 and its 200-day simple moving average is $17.31.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HMY. Advisory Services Network LLC purchased a new position in Harmony Gold Mining during the third quarter worth $25,000. TD Private Client Wealth LLC purchased a new stake in shares of Harmony Gold Mining in the fourth quarter valued at $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Harmony Gold Mining in the fourth quarter valued at $26,000. Ascentis Independent Advisors acquired a new stake in shares of Harmony Gold Mining during the first quarter valued at $28,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Harmony Gold Mining during the first quarter valued at $33,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited is a South African gold producer headquartered in Randfontein, South Africa. The company explores for, extracts, and processes gold from underground and surface operations, producing doré bars and gold concentrate for sale to refiners. Harmony is listed on the Johannesburg Stock Exchange and its American depositary shares trade on the New York Stock Exchange under the symbol HMY.

Harmony’s operations are primarily located in South Africa, where its assets include the Mponeng, Doornkop, Kusasalethu, and Tshepong operations, as well as surface retreatment and tailings-processing businesses.