Harmony Gold Mining (NYSE:HMY) Stock Price Down 6.3% – Here’s What Happened

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price was down 6.3% during mid-day trading on Wednesday . The company traded as low as $14.48 and last traded at $14.4360. Approximately 896,268 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 4,975,253 shares. The stock had previously closed at $15.40.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HMY. Morgan Stanley raised Harmony Gold Mining to an “overweight” rating in a research report on Thursday, April 16th. Wall Street Zen downgraded shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Zacks Research upgraded shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Harmony Gold Mining Trading Down 6.5%

The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.03. The firm has a 50 day simple moving average of $16.50 and a two-hundred day simple moving average of $18.35.

Hedge Funds Weigh In On Harmony Gold Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in HMY. GAMMA Investing LLC boosted its position in shares of Harmony Gold Mining by 7.6% during the 2nd quarter. GAMMA Investing LLC now owns 9,548 shares of the mining company’s stock worth $145,000 after purchasing an additional 678 shares in the last quarter. DV Trading LLC lifted its stake in shares of Harmony Gold Mining by 1,181.7% in the first quarter. DV Trading LLC now owns 11,125 shares of the mining company’s stock valued at $171,000 after purchasing an additional 10,257 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in Harmony Gold Mining by 16.0% during the first quarter. Segall Bryant & Hamill LLC now owns 35,500 shares of the mining company’s stock worth $546,000 after buying an additional 4,900 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Harmony Gold Mining by 11.5% during the 1st quarter. Royal Bank of Canada now owns 11,003 shares of the mining company’s stock worth $169,000 after acquiring an additional 1,136 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Harmony Gold Mining by 75.0% in the first quarter. Quantinno Capital Management LP now owns 124,760 shares of the mining company’s stock valued at $1,918,000 after purchasing an additional 53,466 shares during the last quarter. Institutional investors and hedge funds own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

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.