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

Harmony Gold Mining Company Limited (NYSE:HMY)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $8.25, but opened at $8.56. Harmony Gold Mining shares last traded at $8.60, with a volume of 962,931 shares trading hands.

Analysts Set New Price Targets

HMY has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Bank of America started coverage on Harmony Gold Mining in a report on Monday, October 21st. They issued a “neutral” rating on the stock. Finally, StockNews.com downgraded shares of Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th.

Harmony Gold Mining Trading Up 2.1 %

The stock has a market capitalization of $5.48 billion, a PE ratio of 5.64, a P/E/G ratio of 0.43 and a beta of 1.73. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $9.08 and a 200 day moving average price of $9.64.

Hedge Funds Weigh In On Harmony Gold Mining

Hedge funds have recently bought and sold shares of the company. Consolidated Portfolio Review Corp bought a new position in shares of Harmony Gold Mining during the third quarter valued at about $1,187,000. Public Employees Retirement System of Ohio purchased a new position in shares of Harmony Gold Mining in the 3rd quarter worth approximately $1,412,000. HighTower Advisors LLC grew its holdings in shares of 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 acquiring an additional 39,237 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Harmony Gold Mining during the second quarter valued at approximately $1,141,000. Finally, Bridgewater Associates LP lifted its holdings in Harmony Gold Mining by 34.6% during the third quarter. Bridgewater Associates LP now owns 403,178 shares of the mining company’s stock worth $4,100,000 after acquiring an additional 103,608 shares during the period. 31.79% of the stock is owned by hedge funds and other institutional investors.

About Harmony Gold Mining

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.