Harmony Gold Mining (NYSE:HMY) Shares Gap Down – Should You Sell?

Harmony Gold Mining Company Limited (NYSE:HMY) shares gapped down prior to trading on Monday . The stock had previously closed at $8.43, but opened at $8.26. Harmony Gold Mining shares last traded at $8.24, with a volume of 1,548,598 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HMY. Bank of America started coverage on Harmony Gold Mining in a research note on Monday, October 21st. They set a “neutral” rating for the company. StockNews.com downgraded shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Finally, JPMorgan Chase & Co. upped their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a research report on Tuesday, November 12th.

Harmony Gold Mining Stock Performance

The company has a 50-day moving average of $9.81 and a 200 day moving average of $9.66. The firm has a market capitalization of $5.28 billion, a PE ratio of 5.99, a PEG ratio of 0.46 and a beta of 1.72. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Harmony Gold Mining

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hara Capital LLC bought a new position in shares of Harmony Gold Mining in the 3rd quarter worth $38,000. Ashton Thomas Private Wealth LLC bought a new stake in Harmony Gold Mining in the 2nd quarter worth approximately $41,000. Wallace Advisory Group LLC bought a new stake in shares of Harmony Gold Mining in the 2nd quarter worth approximately $94,000. Ballentine Partners LLC purchased a new stake in Harmony Gold Mining during the second quarter valued at about $112,000. Finally, Ground Swell Capital LLC bought a new stake in shares of Harmony Gold Mining in the 3rd quarter valued at about $115,000. 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.