Harmony Gold Mining (NYSE:HMY) Shares Gap Up – Still a Buy?

Harmony Gold Mining Company Limited (NYSE:HMY) shares 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 changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Harmony Gold Mining from $8.20 to $8.40 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Bank of America began coverage on Harmony Gold Mining in a research note on Monday, October 21st. They issued a “neutral” rating for the company. 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 company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 5.64, a PEG ratio of 0.43 and a beta of 1.73. The firm has a 50 day moving average price of $9.08 and a two-hundred day moving average price of $9.64.

Hedge Funds Weigh In On Harmony Gold Mining

A number of hedge funds have recently bought and sold shares of HMY. Consolidated Portfolio Review Corp bought a new position in shares of Harmony Gold Mining in the 3rd quarter worth about $1,187,000. Public Employees Retirement System of Ohio acquired a new stake in Harmony Gold Mining during the third quarter worth approximately $1,412,000. HighTower Advisors LLC increased its holdings in Harmony Gold Mining by 298.5% in the third quarter. HighTower Advisors LLC now owns 52,383 shares of the mining company’s stock worth $525,000 after purchasing an additional 39,237 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in Harmony Gold Mining in the second quarter valued at approximately $1,141,000. Finally, Bridgewater Associates LP boosted its holdings in shares of Harmony Gold Mining by 34.6% during the 3rd quarter. Bridgewater Associates LP now owns 403,178 shares of the mining company’s stock worth $4,100,000 after buying an additional 103,608 shares in the last quarter. Institutional investors 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.