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

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $14.35, but opened at $14.79. Harmony Gold Mining shares last traded at $14.76, with a volume of 782,043 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HMY. Wall Street Zen raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Hsbc Global Res raised shares of Harmony Gold Mining from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 17th.

Harmony Gold Mining Price Performance

The stock’s 50-day simple moving average is $15.46 and its 200 day simple moving average is $12.29. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 0.63 and a beta of 0.98.

Hedge Funds Weigh In On Harmony Gold Mining

Several hedge funds have recently added to or reduced their stakes in HMY. Vontobel Holding Ltd. boosted its holdings in shares of Harmony Gold Mining by 4.1% in the fourth quarter. Vontobel Holding Ltd. now owns 516,166 shares of the mining company’s stock valued at $4,238,000 after acquiring an additional 20,336 shares during the period. ABC Arbitrage SA acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at approximately $20,229,000. Truist Financial Corp boosted its holdings in shares of Harmony Gold Mining by 29.5% in the fourth quarter. Truist Financial Corp now owns 18,731 shares of the mining company’s stock valued at $154,000 after acquiring an additional 4,267 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Harmony Gold Mining by 18.0% in the fourth quarter. Private Advisor Group LLC now owns 13,037 shares of the mining company’s stock valued at $107,000 after acquiring an additional 1,987 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at approximately $923,000. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

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.