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

Harmony Gold Mining Company Limited (NYSE:HMY) gapped down prior to trading on Monday . The stock had previously closed at $19.59, but opened at $18.50. Harmony Gold Mining shares last traded at $18.20, with a volume of 1,585,417 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HMY. Zacks Research downgraded shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $21.40 and a two-hundred day moving average price of $18.98.

Institutional Trading of Harmony Gold Mining

A number of large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC acquired a new stake in Harmony Gold Mining during the 4th quarter valued at $1,815,000. Caitong International Asset Management Co. Ltd acquired a new position in Harmony Gold Mining in the fourth quarter worth $196,000. Dorsey Wright & Associates grew its holdings in shares of Harmony Gold Mining by 4.4% during the fourth quarter. Dorsey Wright & Associates now owns 144,460 shares of the mining company’s stock worth $2,875,000 after purchasing an additional 6,086 shares during the last quarter. Compound Planning Inc. grew its holdings in shares of Harmony Gold Mining by 6.2% during the fourth quarter. Compound Planning Inc. now owns 28,314 shares of the mining company’s stock worth $563,000 after purchasing an additional 1,641 shares during the last quarter. Finally, Vident Advisory LLC increased its stake in shares of Harmony Gold Mining by 34.1% in the fourth quarter. Vident Advisory LLC now owns 169,690 shares of the mining company’s stock valued at $3,377,000 after buying an additional 43,130 shares in the last quarter. 31.79% of the stock is currently owned by institutional investors.

About Harmony Gold Mining

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.