Harmony Gold Mining (NYSE:HMY) Trading Up 6.1% – Still a Buy?

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) traded up 6.1% during trading on Thursday . The company traded as high as $11.88 and last traded at $11.85. 1,702,436 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 7,371,318 shares. The stock had previously closed at $11.17.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com cut shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. upped their price target 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.

Harmony Gold Mining Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07. The company’s fifty day simple moving average is $9.88 and its 200 day simple moving average is $9.94.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HMY. ABC Arbitrage SA bought a new position in Harmony Gold Mining in the 4th quarter worth $20,229,000. Van ECK Associates Corp grew its position in shares of Harmony Gold Mining by 3.3% in the 3rd quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock worth $700,663,000 after buying an additional 2,206,537 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Harmony Gold Mining in the 4th quarter worth about $11,903,000. Wellington Management Group LLP grew its position in shares of Harmony Gold Mining by 76.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock worth $27,219,000 after buying an additional 1,162,292 shares during the period. Finally, Millennium Management LLC grew its position in shares of Harmony Gold Mining by 59.5% in the 4th quarter. Millennium Management LLC now owns 2,635,182 shares of the mining company’s stock worth $21,635,000 after buying an additional 982,740 shares during the period. 31.79% of the stock is currently owned by institutional investors.

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.