Harmony Gold Mining (NYSE:HMY) Shares Up 6.3% – Time to Buy?

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) were up 6.3% on Wednesday . The stock traded as high as $25.84 and last traded at $25.6760. Approximately 4,164,865 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 4,115,509 shares. The stock had previously closed at $24.16.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Investec raised shares of Harmony Gold Mining to a “hold” rating in a report on Friday, October 10th. Zacks Research lowered shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Wall Street Zen upgraded Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Harmony Gold Mining in a report on Thursday, January 22nd. Finally, Hsbc Global Res raised Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Harmony Gold Mining has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Stock Up 5.1%

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.41. The business’s 50-day moving average is $20.48 and its two-hundred day moving average is $17.71.

Institutional Investors Weigh In On Harmony Gold Mining

Hedge funds have recently bought and sold shares of the company. Shilanski & Associates Inc. grew its stake in shares of Harmony Gold Mining by 3.0% in the third quarter. Shilanski & Associates Inc. now owns 22,909 shares of the mining company’s stock worth $416,000 after purchasing an additional 670 shares during the last quarter. Signaturefd LLC grew its stake in Harmony Gold Mining by 5.6% in the third quarter. Signaturefd LLC now owns 16,323 shares of the mining company’s stock worth $296,000 after purchasing an additional 867 shares during the period. Compound Planning Inc. increased its stake in shares of Harmony Gold Mining by 3.5% in the 3rd quarter. Compound Planning Inc. now owns 26,673 shares of the mining company’s stock worth $484,000 after acquiring an additional 913 shares in the last quarter. Personal CFO Solutions LLC increased its stake in shares of Harmony Gold Mining by 4.6% during the second quarter. Personal CFO Solutions LLC now owns 22,767 shares of the mining company’s stock valued at $318,000 after purchasing an additional 993 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Harmony Gold Mining by 11.5% during the 2nd quarter. GAMMA Investing LLC now owns 9,692 shares of the mining company’s stock valued at $135,000 after buying an additional 1,003 shares in the last quarter. 31.79% of the stock is currently owned by institutional investors and hedge funds.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.

In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.