Harmony Gold Mining (NYSE:HMY) Stock Price Up 6.1% – Here’s Why

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) traded up 6.1% during mid-day trading on Thursday . The company traded as high as $11.88 and last traded at $11.85. 1,702,436 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 7,371,318 shares. The stock had previously closed at $11.17.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a report on Tuesday, November 12th. StockNews.com cut Harmony Gold Mining from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th.

Harmony Gold Mining Stock Down 7.7 %

The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 0.63 and a beta of 1.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 1.07. The business has a 50 day simple moving average of $9.93 and a 200 day simple moving average of $9.95.

Institutional Trading of Harmony Gold Mining

Hedge funds have recently modified their holdings of the stock. Consolidated Portfolio Review Corp acquired a new stake in shares of Harmony Gold Mining in the third quarter valued at $1,187,000. ABC Arbitrage SA purchased a new position in Harmony Gold Mining in the fourth quarter valued at $20,229,000. Public Employees Retirement System of Ohio purchased a new position in Harmony Gold Mining in the third quarter valued at $1,412,000. HighTower Advisors LLC increased its holdings in Harmony Gold Mining by 298.5% in the third quarter. HighTower Advisors LLC now owns 52,383 shares of the mining company’s stock valued at $525,000 after buying an additional 39,237 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Harmony Gold Mining during the fourth quarter worth about $188,000. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.