Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Here’s Why

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $15.18, but opened at $16.05. Harmony Gold Mining shares last traded at $16.25, with a volume of 1,232,558 shares.

Analyst Ratings Changes

Several research firms have issued reports on HMY. Morgan Stanley raised shares of Harmony Gold Mining to an “overweight” rating in a 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 report on Saturday, June 20th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Harmony Gold Mining Trading Up 6.1%

The company’s 50 day moving average price is $16.58 and its two-hundred day moving average price is $18.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.54 and a quick ratio of 0.38.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HMY. Assenagon Asset Management S.A. acquired a new position in shares of Harmony Gold Mining during the 4th quarter worth approximately $17,832,000. Aquatic Capital Management LLC increased its holdings in shares of Harmony Gold Mining by 78.7% in the third quarter. Aquatic Capital Management LLC now owns 332,461 shares of the mining company’s stock valued at $6,034,000 after purchasing an additional 146,459 shares during the last quarter. Ninety One UK Ltd acquired a new stake in shares of Harmony Gold Mining in the fourth quarter valued at approximately $6,939,000. Eschler Asset Management LLP lifted its position in Harmony Gold Mining by 507.6% during the fourth quarter. Eschler Asset Management LLP now owns 70,596 shares of the mining company’s stock worth $1,405,000 after buying an additional 58,978 shares in the last quarter. Finally, ABC Arbitrage SA lifted its position in Harmony Gold Mining by 143.6% during the fourth quarter. ABC Arbitrage SA now owns 2,488,874 shares of the mining company’s stock worth $49,529,000 after buying an additional 1,467,370 shares in the last quarter. 31.79% of the stock is owned by hedge funds and other institutional investors.

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.