Harmony Gold Mining (NYSE:HMY) Shares Gap Down – Time to Sell?

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) gapped down before the market opened on Tuesday . The stock had previously closed at $20.99, but opened at $19.70. Harmony Gold Mining shares last traded at $19.3630, with a volume of 2,032,647 shares.

Analyst Ratings Changes

HMY has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Harmony Gold Mining has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Harmony Gold Mining Stock Performance

The stock’s fifty day simple moving average is $21.34 and its two-hundred day simple moving average is $18.43. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FIL Ltd acquired a new stake in shares of Harmony Gold Mining during the 4th quarter worth approximately $111,182,000. Public Employees Retirement System of Ohio increased its position in Harmony Gold Mining by 16.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 466,359 shares of the mining company’s stock worth $9,281,000 after buying an additional 65,642 shares during the period. Russell Investments Group Ltd. lifted its stake in Harmony Gold Mining by 6.9% in the fourth quarter. Russell Investments Group Ltd. now owns 784,801 shares of the mining company’s stock valued at $15,704,000 after buying an additional 50,651 shares during the last quarter. ExodusPoint Capital Management LP boosted its holdings in shares of Harmony Gold Mining by 636.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 138,542 shares of the mining company’s stock valued at $2,757,000 after acquiring an additional 119,728 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Harmony Gold Mining during the fourth quarter worth about $2,569,000. 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 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.