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

Harmony Gold Mining Company Limited (NYSE:HMY) gapped down before the market opened on Friday . The stock had previously closed at $11.72, but opened at $11.34. Harmony Gold Mining shares last traded at $11.04, with a volume of 1,652,632 shares traded.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. StockNews.com lowered Harmony Gold Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th.

Harmony Gold Mining Stock Performance

The business has a 50-day moving average price of $9.93 and a 200-day moving average price of $9.95. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Harmony Gold Mining

Several hedge funds have recently modified their holdings of HMY. Mackenzie Financial Corp grew its position in Harmony Gold Mining by 12.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,599,913 shares of the mining company’s stock worth $13,135,000 after purchasing an additional 171,136 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new stake in shares of Harmony Gold Mining during the fourth quarter valued at $539,000. GTS Securities LLC acquired a new position in shares of Harmony Gold Mining in the 4th quarter valued at $492,000. Vise Technologies Inc. purchased a new position in Harmony Gold Mining in the 4th quarter worth $130,000. Finally, Squarepoint Ops LLC purchased a new position in Harmony Gold Mining in the 4th quarter worth $279,000. Institutional investors and hedge funds own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of gold. The company explores for uranium, silver, copper, and molybdenum deposits. It has eight underground operations in the Witwatersrand Basin; an open-pit mine on the Kraaipan Greenstone Belt; and various surface source operations in South Africa.