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

Harmony Gold Mining Company Limited (NYSE:HMY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $9.77, but opened at $10.16. Harmony Gold Mining shares last traded at $10.30, with a volume of 1,300,950 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have commented on HMY. Bank of America began coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They set a “neutral” rating for the company. StockNews.com cut 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. lifted their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th.

Harmony Gold Mining Trading Up 4.4 %

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 company’s 50 day moving average price is $8.91 and its 200 day moving average price is $9.65.

Institutional Investors Weigh In On Harmony Gold Mining

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hara Capital LLC acquired a new position in Harmony Gold Mining during the third quarter worth $38,000. Grove Bank & Trust increased its holdings in shares of Harmony Gold Mining by 400.0% during the fourth quarter. Grove Bank & Trust now owns 5,000 shares of the mining company’s stock worth $41,000 after purchasing an additional 4,000 shares during the period. Wallace Advisory Group LLC acquired a new stake in shares of Harmony Gold Mining during the 2nd quarter worth $94,000. Ground Swell Capital LLC acquired a new stake in shares of Harmony Gold Mining during the 3rd quarter worth approximately $115,000. Finally, Ballentine Partners LLC grew its position in Harmony Gold Mining by 12.2% in the fourth quarter. Ballentine Partners LLC now owns 14,048 shares of the mining company’s stock valued at $115,000 after acquiring an additional 1,533 shares during the last quarter. 31.79% of the stock is owned by institutional investors and hedge funds.

About Harmony Gold Mining

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.