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

Harmony Gold Mining Company Limited (NYSE:HMY) gapped down before the market opened on Thursday . The stock had previously closed at $10.92, but opened at $10.19. Harmony Gold Mining shares last traded at $10.23, with a volume of 1,434,466 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HMY shares. JPMorgan Chase & Co. raised their price objective on Harmony Gold Mining from $8.20 to $8.40 and gave the company a “neutral” rating in a report on Tuesday, November 12th. StockNews.com downgraded Harmony Gold Mining from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th.

Harmony Gold Mining Stock Performance

The firm has a market capitalization of $6.31 billion, a P/E ratio of 5.88, a price-to-earnings-growth ratio of 0.63 and a beta of 1.75. 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 50-day moving average of $10.17 and a 200-day moving average of $10.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HMY. Hara Capital LLC bought a new position in Harmony Gold Mining during the 3rd quarter worth $38,000. Grove Bank & Trust raised its position in Harmony Gold Mining by 400.0% during 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 last quarter. Jones Financial Companies Lllp raised its position in Harmony Gold Mining by 230.3% during the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the mining company’s stock worth $48,000 after purchasing an additional 4,081 shares during the last quarter. Optiver Holding B.V. bought a new position in shares of Harmony Gold Mining in the 4th quarter worth about $75,000. Finally, Quantbot Technologies LP bought a new position in shares of Harmony Gold Mining in the 4th quarter worth about $77,000. 31.79% of the stock is owned by 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.