Harmony Gold Mining (NYSE:HMY) Shares Gap Down – Here’s What Happened

Harmony Gold Mining Company Limited (NYSE:HMY) gapped down prior to trading on Tuesday . The stock had previously closed at $8.88, but opened at $8.57. Harmony Gold Mining shares last traded at $8.58, with a volume of 404,861 shares trading hands.

Analyst Ratings Changes

HMY has been the subject of several research analyst reports. Bank of America initiated coverage on Harmony Gold Mining in a report on Monday, October 21st. They issued a “neutral” rating for the company. StockNews.com downgraded shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, JPMorgan Chase & Co. boosted their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a research report on Tuesday, November 12th.

Harmony Gold Mining Stock Performance

The company has a market cap of $5.54 billion, a PE ratio of 6.39, a P/E/G ratio of 0.46 and a beta of 1.72. 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 stock’s 50-day simple moving average is $9.93 and its 200 day simple moving average is $9.68.

Institutional Investors Weigh In On Harmony Gold Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of HMY. Hara Capital LLC acquired a new stake in shares of Harmony Gold Mining in the third quarter valued at about $38,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Harmony Gold Mining in the second quarter valued at approximately $41,000. Wallace Advisory Group LLC purchased a new position in shares of Harmony Gold Mining during the second quarter valued at approximately $94,000. International Assets Investment Management LLC acquired a new stake in Harmony Gold Mining during the third quarter worth approximately $1,035,000. Finally, Ground Swell Capital LLC purchased a new stake in Harmony Gold Mining in the 3rd quarter worth approximately $115,000. Institutional investors and hedge funds own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

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.