Harmony Gold Mining (NYSE:HMY) Shares Gap Up – What’s Next?

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $19.45, but opened at $20.57. Harmony Gold Mining shares last traded at $20.4130, with a volume of 1,341,393 shares traded.

Analyst Ratings Changes

Several research analysts recently weighed in on HMY shares. Zacks Research upgraded Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Wall Street Zen cut Harmony Gold Mining from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Harmony Gold Mining in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Harmony Gold Mining Trading Up 5.9%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.64 and a current ratio of 0.84. The stock’s 50 day simple moving average is $17.53 and its 200-day simple moving average is $17.31.

Institutional Investors Weigh In On Harmony Gold Mining

A number of large investors have recently made changes to their positions in the stock. Ballentine Partners LLC raised its stake in Harmony Gold Mining by 5.0% in the 4th quarter. Ballentine Partners LLC now owns 12,859 shares of the mining company’s stock worth $256,000 after acquiring an additional 607 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Harmony Gold Mining by 7.6% in the second quarter. GAMMA Investing LLC now owns 9,548 shares of the mining company’s stock valued at $145,000 after purchasing an additional 678 shares during the period. Parallel Advisors LLC increased its holdings in shares of Harmony Gold Mining by 15.5% in the first quarter. Parallel Advisors LLC now owns 6,364 shares of the mining company’s stock valued at $98,000 after purchasing an additional 852 shares during the period. Vise Technologies Inc. increased its holdings in shares of Harmony Gold Mining by 4.5% in the fourth quarter. Vise Technologies Inc. now owns 24,002 shares of the mining company’s stock valued at $478,000 after purchasing an additional 1,030 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Harmony Gold Mining by 11.5% in the first quarter. Royal Bank of Canada now owns 11,003 shares of the mining company’s stock worth $169,000 after purchasing an additional 1,136 shares during the last quarter. 31.79% of the stock is owned by hedge funds and other institutional investors.

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.