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

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $8.43, but opened at $8.26. Harmony Gold Mining shares last traded at $8.24, with a volume of 1,548,598 shares changing hands.

Wall Street Analyst Weigh In

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

Harmony Gold Mining Trading Down 0.6 %

The company has a market capitalization of $5.32 billion, a P/E ratio of 6.03, a price-to-earnings-growth ratio of 0.46 and a beta of 1.72. 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 company has a fifty day simple moving average of $9.83 and a two-hundred day simple moving average of $9.67.

Hedge Funds Weigh In On Harmony Gold Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new position in shares of Harmony Gold Mining during the third quarter valued at $38,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Harmony Gold Mining in the 2nd quarter valued at about $41,000. Wallace Advisory Group LLC acquired a new stake in shares of Harmony Gold Mining during the 2nd quarter worth approximately $94,000. Ballentine Partners LLC bought a new stake in shares of Harmony Gold Mining during the second quarter worth approximately $112,000. Finally, Ground Swell Capital LLC bought a new position in Harmony Gold Mining in the third quarter valued at approximately $115,000. 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.