Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Here’s What Happened

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $18.05, but opened at $20.01. Harmony Gold Mining shares last traded at $19.69, with a volume of 1,659,319 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have 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. Morgan Stanley upgraded Harmony Gold Mining to an “overweight” rating in a research note on Thursday, April 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Harmony Gold Mining in a report on Friday, July 17th. Finally, Wall Street Zen downgraded Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Harmony Gold Mining currently has an average rating of “Moderate Buy”.

Harmony Gold Mining Stock Performance

The firm’s fifty day moving average is $15.93 and its 200-day moving average is $17.52. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03.

Institutional Trading of Harmony Gold Mining

A number of hedge funds and other institutional investors have recently modified their holdings of HMY. Advisory Services Network LLC acquired a new position in shares of Harmony Gold Mining during the third quarter worth $25,000. TD Private Client Wealth LLC acquired a new stake in shares of Harmony Gold Mining during the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Harmony Gold Mining during the 4th quarter worth $26,000. Ascentis Independent Advisors bought a new stake in Harmony Gold Mining during the 1st quarter worth $28,000. Finally, Banque Cantonale Vaudoise acquired a new position in Harmony Gold Mining in the 1st quarter worth about $33,000. Institutional investors own 31.79% of the company’s stock.

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.