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

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) gapped up before the market opened on Tuesday . The stock had previously closed at $10.00, but opened at $10.21. Harmony Gold Mining shares last traded at $10.08, with a volume of 1,064,703 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HMY. JPMorgan Chase & Co. upped their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. StockNews.com cut shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th.

Harmony Gold Mining Trading Up 6.5 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56. The firm has a fifty day moving average of $10.20 and a 200 day moving average of $10.00. The firm has a market capitalization of $6.76 billion, a PE ratio of 6.28, a P/E/G ratio of 0.63 and a beta of 1.75.

Institutional Trading of Harmony Gold Mining

A number of institutional investors and hedge funds have recently made changes to their positions in HMY. Hara Capital LLC acquired a new position in shares of Harmony Gold Mining during the 3rd quarter valued at $38,000. Grove Bank & Trust boosted its position in shares of Harmony Gold Mining by 400.0% in the fourth quarter. Grove Bank & Trust now owns 5,000 shares of the mining company’s stock worth $41,000 after buying an additional 4,000 shares during the period. Jones Financial Companies Lllp grew its stake in Harmony Gold Mining by 230.3% during the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the mining company’s stock valued at $48,000 after acquiring an additional 4,081 shares in the last quarter. Optiver Holding B.V. acquired a new position in Harmony Gold Mining in the 4th quarter valued at approximately $75,000. Finally, Quantbot Technologies LP acquired a new stake in Harmony Gold Mining during the fourth quarter valued at $77,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.