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

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) 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.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Bank of America assumed coverage on shares of Harmony Gold Mining in a report on Monday, October 21st. They issued a “neutral” rating on the stock. Finally, StockNews.com raised shares of Harmony Gold Mining from a “hold” rating to a “buy” rating in a report on Tuesday.

Harmony Gold Mining Stock Performance

The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average price of $8.96 and a 200-day moving average price of $9.66.

Institutional Trading of Harmony Gold Mining

A number of large investors have recently made changes to their positions in HMY. Hara Capital LLC purchased a new position in Harmony Gold Mining in the third quarter worth about $38,000. Grove Bank & Trust boosted its holdings in shares of Harmony Gold Mining by 400.0% in the 4th 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 bought a new position in shares of Harmony Gold Mining during the 2nd quarter valued at approximately $94,000. Ground Swell Capital LLC purchased a new stake in Harmony Gold Mining during the 3rd quarter valued at $115,000. Finally, Ballentine Partners LLC lifted 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 worth $115,000 after buying an additional 1,533 shares during the last quarter. 31.79% of the stock is currently owned by institutional investors.

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.