Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Time to Buy?

Shares of Harmony Gold Mining Company Limited (NYSE:HMY) gapped up prior to trading on Thursday . The stock had previously closed at $15.18, but opened at $16.05. Harmony Gold Mining shares last traded at $16.25, with a volume of 1,232,558 shares traded.

Analyst Ratings Changes

Several equities analysts have recently commented on HMY shares. Wall Street Zen lowered Harmony Gold Mining from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Morgan Stanley upgraded shares of Harmony Gold Mining to an “overweight” rating in a report on Thursday, April 16th. Finally, Zacks Research raised shares of Harmony Gold Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Harmony Gold Mining Trading Down 0.2%

The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03. The firm has a 50-day simple moving average of $16.53 and a 200-day simple moving average of $18.42.

Institutional Investors Weigh In On Harmony Gold Mining

A number of institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new position in Harmony Gold Mining in the third quarter worth about $25,000. TD Private Client Wealth LLC purchased a new stake in shares of Harmony Gold Mining during the fourth quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Harmony Gold Mining in the 4th quarter valued at about $26,000. Ascentis Independent Advisors bought a new stake in shares of Harmony Gold Mining in the 1st quarter valued at about $28,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Harmony Gold Mining in the 1st quarter worth approximately $33,000. Institutional investors own 31.79% of the company’s stock.

Harmony Gold Mining Company Profile

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.