Harmony Gold Mining (NYSE:HMY) Shares Gap Up – What’s Next?

Harmony Gold Mining Company Limited (NYSE:HMY) gapped up prior to trading on Tuesday . The stock had previously closed at $15.30, but opened at $15.95. Harmony Gold Mining shares last traded at $16.1160, with a volume of 2,104,317 shares.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Thursday, January 22nd. Wall Street Zen lowered Harmony Gold Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 14th. Finally, Zacks Research cut Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Harmony Gold Mining currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Harmony Gold Mining Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.54 and a quick ratio of 0.38. The company’s fifty day moving average is $20.79 and its two-hundred day moving average is $19.05.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FIL Ltd purchased a new stake in Harmony Gold Mining in the fourth quarter valued at $111,182,000. Invesco Ltd. raised its stake in shares of Harmony Gold Mining by 12,337.7% during the 2nd quarter. Invesco Ltd. now owns 4,795,844 shares of the mining company’s stock valued at $66,998,000 after buying an additional 4,757,285 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Harmony Gold Mining by 215.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,374 shares of the mining company’s stock valued at $82,289,000 after buying an additional 3,806,468 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Harmony Gold Mining by 286.6% in the 2nd quarter. AQR Capital Management LLC now owns 3,961,141 shares of the mining company’s stock valued at $54,248,000 after buying an additional 2,936,552 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of 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 worth $41,862,000 after buying an additional 2,276,099 shares during the last quarter. 31.79% of the stock is currently owned by institutional investors and hedge funds.

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.