Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Still a Buy?

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) gapped up prior to trading on Wednesday . The stock had previously closed at $13.86, but opened at $14.94. Harmony Gold Mining shares last traded at $14.6630, with a volume of 2,482,748 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HMY shares. Wall Street Zen lowered shares of Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 14th. Zacks Research lowered Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.54 and a quick ratio of 0.38. The business has a 50 day moving average price of $20.18 and a 200 day moving average price of $19.07.

Institutional Investors Weigh In On Harmony Gold Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new stake in shares of Harmony Gold Mining in the 3rd quarter valued at about $25,000. Colonial Trust Advisors bought a new stake in shares of Harmony Gold Mining in the second quarter worth $26,000. TD Private Client Wealth LLC acquired a new position in Harmony Gold Mining during the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new position in Harmony Gold Mining in the fourth quarter valued at $26,000. Finally, Assetmark Inc. lifted its position in Harmony Gold Mining by 907.5% during the 3rd quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock worth $32,000 after buying an additional 1,579 shares in the last quarter. 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.