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

Harmony Gold Mining Company Limited (NYSE:HMY) gapped down prior to trading on Tuesday . The stock had previously closed at $15.72, but opened at $14.76. Harmony Gold Mining shares last traded at $14.95, with a volume of 967,315 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HMY. Zacks Research downgraded shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a report on Friday. BMO Capital Markets began coverage on shares of Harmony Gold Mining in a report on Thursday, July 17th. They issued a “market perform” rating and a $16.00 price target on the stock. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.20.

Harmony Gold Mining Stock Performance

The business’s fifty day moving average price is $14.65 and its two-hundred day moving average price is $14.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.46 and a current ratio of 1.84. The stock has a market capitalization of $9.48 billion, a P/E ratio of 8.84, a P/E/G ratio of 0.10 and a beta of 0.77.

Hedge Funds Weigh In On Harmony Gold Mining

A number of large investors have recently made changes to their positions in HMY. Colonial Trust Advisors purchased a new position in shares of Harmony Gold Mining during the 2nd quarter worth about $26,000. Spire Wealth Management purchased a new position in shares of Harmony Gold Mining during the 1st quarter worth about $33,000. First Horizon Advisors Inc. purchased a new position in shares of Harmony Gold Mining during the 2nd quarter worth about $55,000. Hantz Financial Services Inc. boosted its stake in shares of Harmony Gold Mining by 533.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 4,449 shares of the mining company’s stock worth $62,000 after purchasing an additional 3,747 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of Harmony Gold Mining during the 2nd quarter worth about $69,000. 31.79% of the stock is owned by hedge funds and other institutional investors.

About Harmony Gold Mining

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.