Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Still a Buy?

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $8.25, but opened at $8.56. Harmony Gold Mining shares last traded at $8.60, with a volume of 962,931 shares.

Analyst Ratings Changes

Several brokerages have recently weighed in on HMY. Bank of America began coverage on Harmony Gold Mining in a report on Monday, October 21st. They issued a “neutral” rating for the company. 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. Finally, StockNews.com cut Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th.

Harmony Gold Mining Price Performance

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 fifty day moving average price of $9.19 and a two-hundred day moving average price of $9.65.

Institutional Investors Weigh In On Harmony Gold Mining

A number of hedge funds and other institutional investors have recently modified their holdings of HMY. Veracity Capital LLC raised its stake in Harmony Gold Mining by 7.9% in the 3rd quarter. Veracity Capital LLC now owns 13,747 shares of the mining company’s stock worth $140,000 after purchasing an additional 1,003 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its stake in shares of Harmony Gold Mining by 5.0% in the second quarter. Beverly Hills Private Wealth LLC now owns 28,916 shares of the mining company’s stock valued at $265,000 after buying an additional 1,378 shares during the period. Creative Planning raised its position in shares of Harmony Gold Mining by 3.6% in the 3rd quarter. Creative Planning now owns 59,686 shares of the mining company’s stock valued at $607,000 after buying an additional 2,061 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Harmony Gold Mining by 15.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,366 shares of the mining company’s stock worth $178,000 after buying an additional 2,611 shares in the last quarter. Finally, Hara Capital LLC bought a new position in Harmony Gold Mining in the third quarter valued at about $38,000. Institutional investors and hedge funds 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.