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

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) gapped up prior to trading on Wednesday . The stock had previously closed at $19.28, but opened at $20.63. Harmony Gold Mining shares last traded at $20.7650, with a volume of 528,626 shares.

Analyst Upgrades and Downgrades

HMY has been the topic of several research analyst reports. Zacks Research upgraded Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen raised Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Harmony Gold Mining in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Harmony Gold Mining Trading Up 9.5%

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 of $16.39 and a 200 day moving average of $17.31.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HMY. Public Employees Retirement System of Ohio purchased a new position in shares of Harmony Gold Mining in the second quarter valued at $952,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. raised its stake in Harmony Gold Mining by 15.7% during the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 114,200 shares of the mining company’s stock valued at $1,737,000 after purchasing an additional 15,500 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Harmony Gold Mining during the second quarter valued at $152,000. GAMMA Investing LLC lifted its position in Harmony Gold Mining by 7.6% during 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 last quarter. Finally, DV Trading LLC grew its stake in shares of Harmony Gold Mining by 1,181.7% in the 1st quarter. DV Trading LLC now owns 11,125 shares of the mining company’s stock worth $171,000 after buying an additional 10,257 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.