Harmony Gold Mining (NYSE:HMY) Shares Gap Down – Should You Sell?

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $20.99, but opened at $19.70. Harmony Gold Mining shares last traded at $19.3630, with a volume of 2,032,647 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen upgraded Harmony Gold Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Harmony Gold Mining in a research report on Thursday, January 22nd. Finally, Zacks Research lowered Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Harmony Gold Mining currently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Price Performance

The business’s 50-day moving average is $21.34 and its two-hundred day moving average is $18.43. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04.

Institutional Trading of Harmony Gold Mining

A number of hedge funds have recently made changes to their positions in HMY. FIL Ltd acquired a new stake in Harmony Gold Mining during the 4th quarter valued at $111,182,000. Invesco Ltd. grew its stake in shares of Harmony Gold Mining by 12,337.7% during the second quarter. Invesco Ltd. now owns 4,795,844 shares of the mining company’s stock valued at $66,998,000 after acquiring an additional 4,757,285 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of 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 worth $82,289,000 after acquiring an additional 3,806,468 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Harmony Gold Mining by 286.6% in the second quarter. AQR Capital Management LLC now owns 3,961,141 shares of the mining company’s stock worth $54,248,000 after acquiring an additional 2,936,552 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Harmony Gold Mining by 7,504.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,306,431 shares of the mining company’s stock valued at $41,862,000 after purchasing an additional 2,276,099 shares during the last quarter. Hedge funds and other institutional investors own 31.79% of the company’s stock.

About Harmony Gold Mining

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.