Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Should You Buy?

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $19.45, but opened at $20.57. Harmony Gold Mining shares last traded at $20.4130, with a volume of 1,341,393 shares traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Wall Street Zen lowered Harmony Gold Mining from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Harmony Gold Mining in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Harmony Gold Mining has a consensus rating of “Moderate Buy”.

Harmony Gold Mining Stock Down 2.3%

The company’s fifty day moving average is $17.74 and its 200 day moving average is $17.33. The company has a current ratio of 0.84, a quick ratio of 0.64 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On Harmony Gold Mining

A number of large investors have recently modified their holdings of HMY. AQR Capital Management LLC increased its position in shares of Harmony Gold Mining by 48.2% in the third quarter. AQR Capital Management LLC now owns 5,871,169 shares of the mining company’s stock valued at $105,916,000 after acquiring an additional 1,910,028 shares during the last quarter. FIL Ltd acquired a new position in Harmony Gold Mining during the fourth quarter valued at approximately $111,182,000. Goldman Sachs Group Inc. boosted its position in Harmony Gold Mining by 215.7% during the first quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock valued at $82,289,000 after purchasing an additional 3,806,468 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Harmony Gold Mining by 31.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,042,664 shares of the mining company’s stock valued at $60,549,000 after purchasing an additional 736,233 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in Harmony Gold Mining by 29.3% in the fourth quarter. Lazard Asset Management LLC now owns 2,988,156 shares of the mining company’s stock valued at $59,464,000 after purchasing an additional 677,479 shares in the last quarter. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.