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

Harmony Gold Mining Company Limited (NYSE:HMY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $15.30, but opened at $15.95. Harmony Gold Mining shares last traded at $16.1160, with a volume of 2,104,317 shares.

Wall Street Analyst Weigh In

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

Harmony Gold Mining Stock Up 3.2%

The company’s fifty day simple moving average is $21.03 and its 200 day simple moving average is $19.06. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On Harmony Gold Mining

Several large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC purchased a new position in Harmony Gold Mining during the third quarter worth about $25,000. Colonial Trust Advisors purchased a new stake in shares of Harmony Gold Mining in the 2nd quarter valued at about $26,000. TD Private Client Wealth LLC bought a new stake in shares of Harmony Gold Mining during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Harmony Gold Mining during the fourth quarter worth about $26,000. Finally, Assetmark Inc. grew its holdings in shares of Harmony Gold Mining by 907.5% during the third quarter. Assetmark Inc. now owns 1,753 shares of the mining company’s stock worth $32,000 after purchasing an additional 1,579 shares in the last quarter. Institutional investors own 31.79% of the company’s stock.

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.