Harmony Gold Mining (NYSE:HMY) Trading 6.4% Higher – Here’s What Happened

Harmony Gold Mining Company Limited (NYSE:HMY) traded up 6.4% during trading on Friday . The company traded as high as $9.34 and last traded at $9.16. 2,583,961 shares changed hands during trading, a decline of 51% from the average session volume of 5,255,932 shares. The stock had previously closed at $8.61.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HMY. StockNews.com downgraded Harmony Gold Mining from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Bank of America assumed coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. increased their target price 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 firm has a 50-day simple moving average of $9.01 and a two-hundred day simple moving average of $9.63. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 5.95, a price-to-earnings-growth ratio of 0.43 and a beta of 1.73.

Hedge Funds Weigh In On Harmony Gold Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HMY. Hara Capital LLC bought a new stake in Harmony Gold Mining in the third quarter worth approximately $38,000. Ashton Thomas Private Wealth LLC bought a new stake in Harmony Gold Mining in the second quarter worth $41,000. Wallace Advisory Group LLC acquired a new position in Harmony Gold Mining during the second quarter worth $94,000. Ground Swell Capital LLC bought a new position in Harmony Gold Mining during the third quarter valued at about $115,000. Finally, DGS Capital Management LLC acquired a new stake in shares of Harmony Gold Mining in the third quarter worth about $139,000. Institutional investors own 31.79% of the company’s stock.

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.