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

Harmony Gold Mining Company Limited (NYSE:HMY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $8.68, but opened at $9.28. Harmony Gold Mining shares last traded at $9.40, with a volume of 1,355,764 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Bank of America began coverage on shares of Harmony Gold Mining in a research note on Monday, October 21st. They issued a “neutral” rating for the company. JPMorgan Chase & Co. upped their target price on Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, StockNews.com lowered Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th.

Harmony Gold Mining Trading Up 7.6 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.56. The company’s 50-day simple moving average is $10.05 and its 200-day simple moving average is $9.69.

Hedge Funds Weigh In On Harmony Gold Mining

Institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its stake in Harmony Gold Mining by 3.3% in the 3rd quarter. Van ECK Associates Corp now owns 68,895,088 shares of the mining company’s stock valued at $700,663,000 after buying an additional 2,206,537 shares during the period. Wellington Management Group LLP increased its stake in shares of Harmony Gold Mining by 76.8% during the third quarter. Wellington Management Group LLP now owns 2,676,433 shares of the mining company’s stock worth $27,219,000 after acquiring an additional 1,162,292 shares during the period. Acadian Asset Management LLC raised its holdings in Harmony Gold Mining by 111.5% during the second quarter. Acadian Asset Management LLC now owns 1,853,606 shares of the mining company’s stock worth $16,978,000 after purchasing an additional 977,142 shares in the last quarter. AQR Capital Management LLC lifted its position in Harmony Gold Mining by 63.7% in the second quarter. AQR Capital Management LLC now owns 1,567,543 shares of the mining company’s stock valued at $14,374,000 after purchasing an additional 609,971 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in Harmony Gold Mining in the 1st quarter valued at approximately $2,097,000. Institutional investors and hedge funds own 31.79% of the company’s stock.

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.